PRESS DIGEST - Malaysia - Dec 16

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)

- Malaysia looks set to be included in the list of countries whose citizens require visas to enter Britain beginning 2011, Malaysian Deputy High Commissioner Rustam Yahaya said.

- YNH Property Bhd is seeking legal recourse against Kuwait Finance House (M) Bhd for backing out of a commitment to buy a 45-storey office tower worth 920 million ringgit.

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

- Despite the sharp fall in the profits of Petroliam Nasional Bhd (Petronas) PETR.UL last year, the government is confident it can still achieve the targets of the 2010 Budget through reduced expenditure and prudent spending, Prime Minister Najib Razak said.

BUSINESS TIMES (www.btimes.com.my)

- Malaysia could lose billions of ringgit in palm oil export earnings of a serious labour shortage in Sabah continues, said Malaysian Palm Oil Association chief executive Mamat Salleh.

- Genting Malaysia Bhd (GENM.KL) should have, in the spirit of good corporate governance, sought the approval of its minority shareholders for its latest related party transactions, Minority Shareholder Watchdog Group said.

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

- Petroliam Nasional Bhd's (Petronas) PETR.UL international oil reserves have received a major boost. The national oil company together with four consortiums has landed four oilfield development contracts in Iraq, which is said to have the last and largest proven onshore oil reserves that could be tappped economically.

- Dell Malaysia plans to lay off 700 employees in Penang in 2010 in line with its decision to shift its notebook production in Bukit MInyak to other locations, said Dell Malaysia senior manager of corporate commumications Jasmine Begum.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

- Kuwait Finance House (Malaysia) Bhd has pulled out from a 920 million ringgit deal to purchase 50 percent of Menara YNH from YNH Property Bhd's unit, with no immediate word from either party as to the reasons for the move, YNH Property said in a statement.

- Tenaga Nasional Bhd (TNB) (TENA.KL) is not interested to sell its 20 percent stake in Jimah Energy Ventures Holdings Sdn Bhd following a report of a takeover bid by businessman Halim Saad, TNB president Che Khalib Mohamad Noh said.

THE SUN (www.sun2surf.com)

- Thirteen Malaysian Chinese Association (MCA) Central Committee members on Tuesday handad their resignation letters to party secretary-general Wong Foon Meng, a move that turns the pressure on the factions led by party president Ong Tee Keat and his deputy Chua Soi Lek to do the same to trigger fresh elections.

- Foreign vehicles can fill only 20 litres of petrol and diesel within a 50kn radius of the country's borders from today (Wednesday).

- With the global economy slowly recovering, the Asian Development Bank (ADB) expects Malaysia's economy to return to growth in 2010.

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($1=3395.0 Malaysian Ringgit)