PRESS DIGEST - Malaysia - Aug 13

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)

-- Stockbrokers and remisiers have renewed calls for trading hours on Bursa Malaysia to be reduced in light of the current lacklustre market, Presidnet of the Remisiers Association of Malaysia, Sam Ng Soon said.

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

-- The Economic Planning Unit has been directed to recategorise agriculture in order to give it greater emphasis, Prime Minister Abdullah Ahmad Badawi said.

BUSINESS TIMES

-- Property developer Bolton Bhd (BOLT.KL) plans to launch some 3 billion ringgit worth of properties over the next two years as it aims to become one of the top players in the industry, its Chairman Azman Yahya said.

-- Tenaga Nasional Bhd (TENA.KL) has expressed interest to buy a stake in the Bakun hydroelectric dam after Sime Darby Bhd (SIME.KL) pulled out from the project recently, Second Finance Minister Nor Mohamed Yakcop said.

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

-- Tenaga Nasional Bhd (TENA.KL) and Sarawak Energy Bhd (SARA.KL) have jointly put in a bid to take over the Bakun hydroelectric dam and the multi-billion-ringgit undersea cable project which will transmit power to the peninsula, sources said.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- The Securities Commission has agreed to have Oilcorp Bhd's (OILC.KL) financial statements for the year ended December 31, 2007, re-audited by another auditor after Oilcorp's external auditor Baker Tilly Monteiro Heng maintained its disclaimer opinion on the accounts following a special audit.

-- UMW Holdings Bhd's (UMWS.KL) associate company, UMW Standard Drilling Sdn Bhd has signed a $170 million (565.93 million ringgit) contract with PCPP Operating Co Sdn Bhd for the operation of a jack-up drilling rig, Naga 2, which will see significant contributions to its oil and gas division revenue, its group Managing Director, Abdul Halim Harun said.

THE SUN (www.sun2surf.com)

-- The Public Works Department has taken the main contractor of the Middle Ring Road 2 (MRR2) to court to demand 74 million ringgit as payment for repairs to the cracked pillars that hold up the elevated portion of the highway in 2006, said Parliament's Public Accounts Committee Chairman, Azmi Khalid.

-- The Securities Commission will issue more Islamic fund management company licences this year and next year in an effort to continuously internationalise the industry, its Chairman Zarinah Anwar said.

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