Malaysia’s SC announces strong finish to record year for capital raising
06 February 2013
By Asia Asset Management
The Malaysian capital markets enjoyed a landmark year in 2012 with a record RM145.9 billion (US$47.2 billion) in funds raised through corporate bonds and initial public offerings (IPOs), marking a dramatic increase of 89% from the RM77.2 billion raised in 2011.
The numbers were released on Monday (February 4) in conjunction with the Security Commission’s (SC’s) Q4 quarterly scorecard. The SC also noted that a total of RM123.8 billion worth of issuance took place in the corporate bond market, marking a 73% increase from the RM71.2 billion in the previous year. This represents the highest amount raised to date with Sukuk issuances amounting to RM97.5 billion or 79% of the total bond issuances. In addition, funds raised from IPOs more than tripled from RM6.0 billion in 2011 to RM22.1 billion.
The SC received a total of 46 applications for corporate proposals in the last quarter of 2012, an increase of 31% compared to 35 applications in Q3 2012. The bulk of the applications received (72%) were in relation to private debt securities (PDS). There was also an increase in IPO applications received for the Main Market with six applications in Q4 2012 compared to five in the previous quarter.
26 PDS and six IPO applications, expected to raise RM25.2 billion of funds, were approved in Q4 2012. 29 new collective investment schemes and eight private retirement schemes (PRS) were also approved during the same period.
In terms of process efficiency, substantive applications considered as well as licensing applications in Q4 2012 have all been within the time charter set.
Capital market statistics in relation to the SC scorecard cover information on processing, approvals and rejections of applications, including timing and reasons. In addition to these scorecard indicators, the quarterly statistics of applications approved by the SC for the fourth quarter of 2012 were also reported.
The full series of capital market statistics released by the SC is set out below.
CAPITAL MARKET STATISTICS
SC Scorecard Q4 2012 & Statistics of Applications Approved by the SC in Q4 2012
A. Corporate applications to the SC – Q4 2012
Table 1: Status of substantive applications as at December 31, 2012
Table 2: Substantive applications considered/withdrawn in Q4 2012
Table 3: Processing Turnaround Time for Substantive Applications Considered in Q4 2012
B. Corporate applications approved by the SC – Q4 2012
i) Applications approved
Table 4: Number of applications approved
ii) Private debt securities (PDS)
Table 5: Approved ringgit-denominated issues
Table 6: Approved foreign currency-denominated issues by foreign corporations
Table 7: Approved foreign currency-denominated issues by Malaysian Issuers
C. Take-Overs & Mergers
Table 8: Number of Applications Considered under the Malaysian Code on Take-overs and Mergers 2010
D. Unit Trusts, Collective Investment Schemes & Private Retirement Schemes
Table 9: Number of Applications Approved Relating to Unit Trusts, Other Collective Investment Schemes and Private Retirement Schemes
Table 10: Status of Licensing Applications
Table 11: Processing Turnaround Time for Licensing Applications
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