PRESS DIGEST - Malaysia - July 14

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

ALL NEWSPAPERS

- The government will announce another measures on Friday to help lighten the people's burden after the fuel price increase, Prime Minister Abdullah Ahmad Badawi said.

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

- Malaysia's economy is largely stable even though the country is facing a global crisis, including an increase in the prices of fuel and food, Prime Minister Abdullah Ahmad Badawi said.

BUSINESS TIMES (www.btimes.com.my)

- The Securities Commission is keeping a close eye on a dispute between Oilcorp Bhd (OILC.KL) and its auditor, an episode that has raised corporate governance concerns, industry executives said.

THE STAR (www.thestar.com.my)

- All eyes are on the outcome of an emergency motion of no-confidence against Prime Minister Abdullah Ahmad Badawi and his cabinet on Monday.

- Ingress Corp Bhd (IESS.KL) is tipped to have secured another 1 billion ringgit worth of contract to supply signalling and communication systems for the Ipoh-Padang Besar double-tracking railway project, an industry source said.

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

- A cutback in consumer spending resulting from declining disposable income is expected to take a toll on the economy in the second half of the year.

- The Anti-Corruption Agency cannot be fully independent until and unless the laws are amended, granting the agency full prosecution powers, Bar Council Chairwoman Ambiga Sreenevasan said.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

- Avenue Invest Bhd, a member of ECM Libra Avenue Group, has become the target of numerous investor complaints after the net asset value of two of its bond funds - BondEXTRA and IncomeEXTRA - fell more than 10 percent each within a single day last Monday without any prior warning by the company to investors.

- The Securities Commission has approved the applications of Kuwait Finance House, DBS Asset Management and CIMB-Principal Islamic Asset Management to set up Islamic fund management companies in Malaysia, Chairman Zarinah Anwar said.