CAPITAL MARKET STATISTICS

SC Scorecard Q4 2008
&
Statistics of Submissions Approved by SC in Q4 2008

A. Corporate Submissions to the SC – Q4 2008

Table 1: Status of Substantive Applications as at 31 December 2008

Total

Balance brought forward from Q3 2008

25

Add: Applications received during Q4 20081

41

Total applications

66

Less: Applications Considered during Q4 2008

47

Less: Applications Withdrawn/Returned during Q4 2008

2

Balance carried forward to Q1 2009

17

1 Substantive Applications exclude other applications such as extension of time, waiver from guidelines, appeal against SC’s decision, etc.


Table 2: Substantive Applications Considered/Withdrawn/Returned in Q4 2008

Type of proposals

Approved

Rejected

Deferred

Withdrawn/
Returned

Total

Initial public offerings

  • Main Board
  • Second Board
  • MESDAQ

 

1

1

 



 



 

1

 

2

1

Mergers & Acquisitions

3

1

4

Restructurings

2

1

3

Equity capital-raising

10

10

Private debt securities

20

20

Others*

9

9

TOTAL

46

1

2

49

* Includes transfer to Main Board, proposals by unlisted public company, etc.


Table 3: Processing Turnaround Time for Substantive Applications Considered in Q4 2008

Substantive Applications

Within Time Charter1

Exceeds Time Charter

Total

No.

%

No.

%

No.

%

47

100

47

100

1 SC time charter is 60 working days for applications involving initial public offerings (IPOs) and acquisitions/disposals of assets resulting in a significant change in the business direction/policy of a listed company. The 21 working days are for applications involving large capitalisation IPOs and equity raising proposals. The 28 and 14 working days each are for Asset-Backed and private debt securities respectively. For stand-alone rights proposal and private placements up to 10% of the paid-up share capital, the time charter is 5 working days and 1 working day respectively. The processing times are computed from the date of receipt of complete application to date of decision letter.

Table 4: Status of Licensing Applications in Q4 2008

Type of licence application

Received

Withdrawn

Returned

Considered

Approved

Rejected

Pending

Representative

 

 

 

 

 

 

New

342

7

17

318

299

0

19

Renewal

805

1

2

802

800

0

2

Corporation

 

 

 

 

 

New

11

0

0

11

5

0

6

Renewal

34

0

0

34

31

0

3

Individual

New

1

0

0

1

0

0

1

Renewal

0

0

0

0

0

0

0

Total

1,193

8

19

1,166

1,135

0

31

Table 5: Processing Turnaround Time for Licensing Applications in Q4 2008

Type of licence application

Within
time charter

Exceeds
time charter

Total

%

Total

%

Representative

 

 

 

 

New

273

91.30

26

8.7

Renewal

800

100

0

0

Corporation

 

 

 

 

New

5

100

0

0

Renewal

31

100

0

0

Individual

New

0

0

0

0

Renewal

0

0

0

0

Total

1,109 (97.70%)

26 (2.3%)

B. Statistics of Applications Approved by the SC – Q4 2008

i) Corporate Proposals

Table 6: Number of Corporate Proposals Approved

Type of Proposals

No. of Corporate Proposals Approved

Q4 2008

Q3 2008

Q4 2007

Initial public offerings

2

11

3

Mergers & Acquisitions

3

8

5

Restructurings

2

1

Equity capital-raising

10

9

30

Private debt securities

20

23

29

Others

9

13

19

TOTAL

46

65

86

ii) Private Debt Securities

Table 7: Approved RM-denominated PDS Issues

Type

Q4 2008

Q3 2008

Q1-Q4 2008

Q1-Q4 2007

No. of issues

Size of issues
(RM
mil)

No. of issues

Size of issues
(RM
mil)

No. of issues

Size of issues
(RM
mil)

No. of issues

Size of issues
(RM
mil)

Conventional

101

31,327.17

112

8,574.00

523

96,757.89

604

36,700.03

Sukuk

95

14,639.00

14

6,875.00

435

33,234.00

526

31,802.24

Combination7

28

4,000.00

49

10,000.00

8

90,300.00

Total

21

49,966.17

25

15,449.00

99

139,991.89

120

158,802.27

1

Include one Asset-Backed Securities (ABS) amounting RM20.0 billion.

2

Include one ABS amounting RM1.5 billion.

3

Include two issues by multilateral development banks amounting RM7.8 billion, two issues by agencies of foreign government amounting RM4.85 billion, five issues by foreign multinational corporations amounting RM10.5 billion and four ABS amounting RM23.15 billion.

4

Include nine ABS amounting RM8.2 million.

5

Include one issue of a multi-currency Islamic securities programme which has a combined limit of RM10.0 billion (or its equivalent in foreign currency) with a ringgit denominated Islamic securities programme.

6

Include two ABS amounting RMRM3.4 billion.

7

Combination of conventional and sukuk.

8

Include one issue by a foreign multinational corporation amounting RM1.0 billion and one issue by an agency of a foreign government amounting RM3.0 billion.

9

Include three issues by agencies of foreign government amounting RM9.0 billion and one issue by a foreign multinational corporation amounting RM1.0 billion.


Table 8: Approved Foreign Currency-denominated PDS Issues by Foreign Corporations

Type

Q4 2008

Q3 2008

Q1-Q4 2008

Q1-Q4 2007

No. of offers

Size of offers
(USD
mil)

No. of offers

Size of offers
(USD
mil)

No. of offers

Size of offers
(USD
mil)

No. of offers

Size of offers
(USD
mil)

Conventional

1

1,000.00

Sukuk

11

22

5,000.00

103

8,637.00

Combination4

2

3,000.00

Total

1

2

5,000.00

13

12,637.00

1 Offer size has yet to be finalised at the point of approval.
2 Include one which has yet to finalise the offer size at the point of approval.
3 Include adjustments to reflect updated figures.
4 Combination of conventional and sukuk.


Table 9: Approved Foreign Currency-denominated PDS Issues by Malaysian Issuers

Type

Q4 2008

Q3 2008

Q1-Q4 2008

Q1-Q4 2007

No. of offers

Size of offers
(
mil)

No. of offers

Size of offers
(
mil)

No. of offers

Size of offers
(
mil)

No. of offers

Size of offers
(
mil)

Conventional

11

USD1,000.00

2

USD1,300.00

1

SGD425.00

Sukuk

Total

1

USD1,000.00

2

USD1,300.00

1

SGD425.00



Table 10: Approved Program Issuance of Structured Products

Type

Q4 2008

Q3 2008

Q1-Q4 2008

Q1-Q4 2007

No. of issues

Size of issues
(RM
mil)

No. of issues

Size of issues
(RM
mil)

No. of issues

Size of issues
(RM
mil)

No. of issues

Size of issues
(RM
mil)

Conventional

3

15,000.00

3

15,000.00

9

39,000.00

16

80,249.90

Sukuk

6

14,000.00

Total

3

15,000.00

3

15,000.00

9

39,000.00

22

94,249.90

iii) Take-overs & Mergers

Table 11: Number of Approved Submissions Relating to the Malaysian Code on Take-overs and Mergers

Type

Number of Submissions Approved

Q4 2008

Q3 2008

Q4 2007

Clearance of offer document

10

16

14

Application for exemption from mandatory offer obligation

20

21

10

Others

27

55

46

Total

57

92

70


iv) Unit Trusts & Collective Investment Schemes

Table: 12: Number of Submissions Relating to Unit Trust and Other Collective Investment Schemes Approved

Type

Number of Submissions Approved

Q4
2008

Q3
2008

Q4
2007

Establishment of new funds

10

42

33

Change in fund size

9

15

33

Exemption/variation from Guidelines1

2

9

5

Other applications 2

22

19

26

Total

43

85

97

1 Excluding applications submitted through the establishment of new schemes.
2 Including applications for extension of time, change of trustee and application to act as E-Host and provide online activities.