PRESS DIGEST - Malaysia - June 4

Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE STAR (www.thestar.com.my)

-- The financial services sector will issue more Islamic papers this year although the outlook for sukuk or the Islamic bond market is sluggish, said Malaysian Rating Corp Bhd (MARC) chief executive officer Mohd Razlan Mohamed.

-- Mumbai-based biotechnology firm Actis Biologics Pvt Ltd is looking to raise up to $300 million (1.03 billion ringgit) for its Biocity project in Malacca by the year-end, Actis Biologics Malaysia executive vice-president Thenakaran Ganapathi said.

BUSINESS TIMES (www.btimes.com.my)

-- TIN can manufacturer Can-One Bhd (CNON.KL) will push ahead with plans to buy a 32.9 percent stake in bigger rival Kian Joo Can Factory Bhd (KJCS.KL) despite recent setbacks, Can-One Executive Director Chee Khay Leong said.

THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)

-- Petroliam Nasional Bhd (Petronas) [PETR.UL] and Exxon Mobil Corporation have committed to spend at least $2.1 billion (7.31 billion ringgit) to develop seven existing oil fields off Peninsular Malaysia, Petronas said in a statement.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- Tanco Holdimngs Bhd (TANC.KL), a property developer and resort operator, has been asked to pay $98.04 million (341.65 million ringgit) by the liquidators of Lehman Brothers Commercial Corp Asia Ltd, Tanco Holdings said.

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