Statistics of Submission Approved by the SC Corporate Proposals The Securities Commission (SC) approved 73 corporate proposals during the third quarter of year 2001, marginally lower than the 77 approvals granted in the previous quarter (Table 1). Cumulatively, the SC has approved 225 corporate proposals in the first nine months of 2001. Table 1: Number of corporate proposals approved Number of submissions approved Type Q3 2001 Q2 2001 Q1 - Q3 2001 Q1 - Q3 2000 New listings 12 10 34 40 Capital-raising exercises * 24 29 91 80 Acquisitions 5 2 15 28 Restructuring & reorganisations ** 5 6 15 26 Recapitalisation Employee share option schemes 18 18 39 59 Others *** 9 12 31 52 Total 73 77 225 285 * Include equity issues, private placements and restricted issues, issues of debt securities, ICULS and preference shares. ** Include debt restructuring. *** Include bonus issues, transfers to Main Board, disposals of assets, issues of replacement warrants and exercises by unlisted companies. During the third quarter of 2001, the largest number of approvals was granted under the category of capital-raising exercises (24). These include the approvals for equity issues, private placements and restricted issues, issues of debt securities, irredeemable convertible unlisted loan stocks (ICULS) and preference shares. The SC also approved 12 new listing applications, bringing the total number of approvals for such applications since the beginning of the year to 34. The SC also approved five acquisition and another five restructuring and reorganisation proposals in the third quarter.
Private Debt Securities The SC approved a total of 28 private debt securities (PDS) issues amounting to RM10.2 billion in the third quarter (Table 2). Sixteen of these approvals were for conventional PDS issues while the remaining 12 approvals were for issuance of Islamic-based PDS - representing 57.1% and 42.9%, respectively, of total PDS issues during the third quarter. The total number of PDS issues for the first nine months of 2001 stood at 83 (conventional: 57; Islamic: 26) amounting to RM37.0 billion. Table 2: Number of Issues Approved relating to Private Debt Securities Q3 2001 Q1 - Q2 2001 Type Number of Issues Size of Issues Number of Issues Size of Issues (RM mil) (RM mil) Conventional 16 5,026.31 41 16,734.88 Islamic 12 5,219.13 14 10,055.00 Total 28 10,245.44 55 26,789.88 Take-overs and Mergers The SC approved 44 applications under the Malaysian Code on Take-overs and Mergers during the third quarter of 2001, a relatively higher number compared with the 38 approved in the previous quarter (Table 3). The number of approvals granted under this category since January to end September 2001 stood at 115, a decline of 4.2% from the corresponding period last year (120). Seven of the approvals granted in the third quarter were for waivers from the mandatoryoffer obligation while six approvals were given for clearance of offer documents. The remaining 31 approvals were for extension of time for despatch of offer documents, appointment of independent advisers, clearance of independent advice circular and other ancillary applications including request for rulings.
Table 3: Number of approved submissions relating to the Malaysian Code on Takeovers and Mergers Number of submissions approved Type Q3 2001 Q2 2001 Q1- Q3 2001 Q1- Q3 2000 Clearance of offer document 6 4 11 13 Application for waiver from 7 12 31 36 mandatory-offer obligation Others* 31 22 73 71 Total 44 38 115 120 * Include extension of time for despatch of offer documents, appointment of independent advisers, clearance of independent advice circular and other ancillary applications including request for rulings. Unit Trusts and Other Collective Investment Schemes In terms of unit trust and other collective investment schemes applications, the SC approved a total of 35 applications during the third quarter of year 2001 (Table 4). As such, total approvals under this category stood at 93, a 6.9% increase compared with 87 approvals for the corresponding period of last year. The SC also approved the establishment of 15 new funds, representing a more than two-fold increase from the last quarter which saw the approval of six new funds. During the third quarter, the SC also approved two applications to increase fund size and 18 other applications relating to extension of time, appointment of external fund managers, change in shareholding structure, revaluation of property and appointment of institutional agents for distribution of unit trusts. Table 4: Number of Submissions Approved Relating to Unit Trusts and Other Collective Investment Schemes Number of submissions approved Type Q3 2001 Q2 2001 Q1 - Q3 2001 Q1 - Q3 2000 Establishment of new funds 15 6 26 10 Increase in fund size 2 8 12 20 Exemption/variation from - 3 5 3 Guidelines * Other applications ** 18 14 50 54 Total 35 31 93 87 * Exclude applications submitted through the establishment of new schemes. ** Include applications for extension of time, appointment of external fund managers, change in shareholding structure, revaluation of property and appointment of institutional agents for distribution of unit trust.
Statistik Permohonan yang Diluluskan oleh SC Cadangan Korporat Suruhanjaya Sekuriti (SC) telah meluluskan sebanyak 73 cadangan korporat bagi suku ketiga tahun 2001, rendah sedikit daripada 77 kelulusan yang diberikan pada suku tahun sebelumnya. Secara kumulatif, SC telah meluluskan 225 cadangan korporat pada sembilan bulan pertama 2001. Jadual 1: Bilangan Cadangan Korporat yang Diluluskan Bilangan permohonan yang diluluskan Suku Pertama - Suku Pertama - Jenis Suku Ketiga 2001 Suku Kedua 2001 Suku Ketiga 2001 Suku Ketiga 2000 Penyenaraian baru 12 10 34 40 Penjanaan modal * 24 29 91 80 Perolehan 5 2 15 28 Penyusunan & pengaturan 5 6 15 26 semula ** Pemodalan semula - - - - Skim opsyen saham pekerja 18 18 39 59 Lain-lain *** 9 12 31 52 Jumlah 73 77 225 285 * Termasuk terbitan ekuiti, penempatan persendirian dan terbitan terhad, terbitan sekuriti hutang, ICULS dan saham keutamaan. ** Termasuk penyusunan semula hutang. *** Termasuk terbitan bonus, pemindahan ke Papan Utama, penjualan aset dan terbitan waran gantian dan cadangan oleh syarikat tidak tersenarai. Pada suku ketiga tahun 2001, jumlah kelulusan terbesar diberikan bagi kategori penjanaan modal (24). Ini termasuk kelulusan bagi terbitan ekuiti, penempatan persendirian dan terbitan terhad, terbitan sekuriti hutang, stok pinjaman tidak bercagar boleh tukar tidak boleh tebus (ICULS) dan saham keutamaan. SC juga meluluskan 12 penyenaraian baru, menjadikan jumlah kelulusan bagi permohonan sedemikian sejak awal tahun kepada 91. SC juga meluluskan lima perolehan dan lima lagi cadangan pengaturan dan penstrukturan semula pada suku ketiga.
Sekuriti Hutang Swasta SC telah meluluskan sejumlah 28 terbitan sekuriti hutang swasta (PDS) berjumlah RM10.2 bilion pada suku tahun ketiga (Jadual 2). Enam belas daripada kelulusan ini adalah bagi terbitan PDS konvensional sementara baki 12 kelulusan adalah bagi terbitan PDS berasaskan Islam - masing-masing mewakili 57.1% dan 42.9% daripada jumlah terbitan PDS pada suku tahun ketiga. Terdapat sebanyak 83 terbitan PDS bagi sembilan bulan pertama tahun 2001 (konvensional:57; Islam:26) yang berjumlah RM37.0 bilion. Jadual 2: Bilangan Permohonan yang Diluluskan berkaitan Sekuriti Hutang Swasta Suku Ketiga 2001 Suku Pertama - Suku Kedua 2001 Jenis Jumlah terbitan Saiz terbitan Jumlah terbitan Saiz terbitan (RM juta) (RM juta) Konvensional 16 5,026.31 41 16,734.88 Islam 12 5,219.13 14 10,055.00 Jumlah 28 10,245.44 55 26,789.88 Pengambilalihan dan Percantuman SC telah meluluskan 44 permohonan bawah Kod Pengambilalihan dan Percantuman Malaysia bagi suku ketiga tahun 2001, agak tinggi berbanding 38 yang diluluskan pada suku sebelumnya. Jumlah kelulusan yang diberikan bawah kategori ini sejak Januari ke akhir September 2001 ialah 115, penurunan sebanyak 4.2% bagi tempoh yang sama tahun lepas (120). Tujuh daripada kelulusan yang diberikan pada suku ketiga adalah bagi pengecualian daripada kewajipan tawaran mandatori manakala enam kelulusan diberikan bagi penjelasan dokumen tawaran. Baki 31 kelulusan adalah bagi pelanjutan masa yang diperlukan untuk penghantaran dokumen tawaran, pelantikan penasihat bebas, kelulusan pekeliling penasihat bebas dan permohonan sampingan lain termasuk permohonan bagi ketetapan Kod. Jadual 3: Bilangan Permohonan yang Diluluskan berkaitan Bilangan permohonan yang diluluskan Jenis Suku Ketiga 2001 Suku Kedua 2001 Suku Pertama - Suku Pertama - Suku Ketiga 2001 Suku Ketiga 2000 Penjelasan dokumen tawaran 6 4 11 13 Permohonan pengecualian daripada 7 12 31 36 kewajipan tawaran mandatori Lain-lain* 31 22 73 71 Jumlah 44 38 115 120 * Termasuk pelanjutan masa bagi penghantaran dokumen tawaran, pelantikan penasihat bebas, kelulusan pekeliling penasihat bebas dan permohonan sampingan lain termasuk permohonan bagi ketetapan Kod.
Unit Amanah dan Skim Pelaburan Kolektif Lain Bagi unit amanah dan skim pelaburan kolektif lain, SC telah meluluskan 35 permohonan pada suku ketiga tahun 2001. Oleh itu, jumlah kelulusan bawah kategori ini ialah 93, peningkatan sebanyak 6.9% berbanding tempoh yang sama tahun sebelumnya (87). SC juga telah meluluskan 15 permohonan bagi penubuhan dana baru menggambarkan lebih daripada dua kali ganda peningkatan dari suku sebelumnya, yang telah menyaksikan kelulusan enam dana baru. Pada suku ketiga, SC juga telah meluluskan dua permohonan untuk pertambahan saiz dana dan 18 permohonan berkaitan pelanjutan masa, pelantikan pengurus dana luar, perubahan struktur pegangan saham, penilaian semula hartanah dan perlantikan ejen-ejen institusi bagi pengagihan unit amanah. Jadual 4: Bilangan Permohonan yang Diluluskan berkaitan Unit Amanah dan Skim Pelaburan Kolektif Lain Bilangan permohonan yang diluluskan Suku Ketiga 2001 Suku Kedua 2001 Suku Pertama - Suku Pertama - Suku Ketiga 2001 Suku Ketiga 2000 Penubuhan dana baru 15 6 26 10 Penambahan saiz dana 2 8 12 20 Pengecualian/ kelainan daripada - 3 5 3 Garis Panduan * Permohonan lain ** 18 14 50 54 Jumlah 35 31 93 87 * Tidak termasuk permohonan melalui penubuhan skim-skim baru. ** Termasuk permohonan bagi pelanjutan masa, pelantikan pengurus dana luar, perubahan dalam struktur pegangan saham, penilaian semula hartanah dan pelantikan ejen-ejen institusi bagi pengagihan unit amanah. SURUHANJAYA SEKURITI 15 Oktober 2001