PRESS DIGEST - Malaysia - Nov 17

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

ALL NEWSPAPERS

- The High Court on Monday declared Kedah's Kota Siputeh state seat vacant and ordered the Election Commission (EC) to call a by-election.

- CIMB Group Holdings Bhd (CIMB.KL) shares rose to a new record on Monday after it announced plans for a dual listing on the Stock Exchange of Thailand (SET) next year that will boost its regional profile.

THE STAR (www.thestar.com.my)

- The Malaysian Chinese Association (MCA) leadership needs to set aside their differences and soldier on with a focused mission, the party was told by top Chinese community and business leaders.

- The Malaysian Industrial Development Authority (Mida) is currently reviewing the country's investment policy to make it more promotive of the development of high-technology, knowledge-based and capital-intensive industries, and less supportive of low value-added ones, said the agency's director-general Jalilah Baba.

NEW STRAITS TIMES (www.nst.com.my)

- Thousands of flood victims were evacuated in Kedah and Perak on Monday as intermittent but occasionally heavy rain caused water to rise in the low-lying areas, a state flood evacuation spokesman said.

BUSINESS TIMES (www.btimes.com.my)

- Affin Holdings Bhd (AFIN.KL), owner of the country's second smallest lender Affin Bank Bhd, said in a statement that it is not in talks to merge with Hong Leong Bank Bhd (HLBB.KL).

THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)

- OSK Investment Bank Bhd (OSK IB) has rejected the entire allocation of 1.5 million initial public offering (IPO) shares in the soon-to-be listed telecommunications company Maxis Bhd given that it was too small and "simply not meaningful", said OSK IB.

THE MALAYSIAN RESERVES (www.themalaysianreserve.com)

- BIMB Holdings Bhd (BIMB.KL) has ended talks to sell a strategic stake in Syarikat Takaful Malaysia Bhd (TAKA.KL) to Abu Dhabi-Kuwait-Malaysia Strategic Investment Corporation (ADKM Investment), BIMB said in a statement.

THE SUN (www.sun2surf.com)

- As traditional timber importing markets are wilting under the economic slowdown, Malaysian exporters are turning to India, which has constantly shown signs of healthy import trends, said senior director of the Malaysian Timber Council's trade promotion and marketing division, Tham Sing Khow.

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($1=3.400 Malaysian Ringgit)