PRESS DIGEST - Malaysia - Sept 26

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

ALL NEWSPAPERS

-- The United Malays National Organisation's (UMNO) supreme council meets in emergency session on Friday to again thrash out the leadership transition plan, including the possibility of postponing the December party elections.

THE STAR (www.thestar.com.my)

-- Brokerage firms in the country are feeling the pinch after six months of lacklustre trade, with a daily volume that has not crossed the two-billion mark since October last year, a research head at a foreign bank-backed brokerage said.

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

-- The government has allocated an additional 100 million ringgit to build houses for the low-income group over this year and next, Deputy Prime Minister Najib Razak said.

BUSINESS TIMES

-- Construction group UBG Bhd (UBGB.KL) plans to partner Mubadala Development Co, the investment arm of Abu Dhabi, to set up an oil and gas exploration and production company in Malaysia, UBG said in a statement.

-- MTD Capital Bhd (MTDC.KL), a construction and toll road operator, said the 37km Cibitung-Cilincing toll road in Jakarta, Indonesia, will cost the company over 1.1 billion ringgit to build -- more than 35 percent than originally budgeted, MTD Chairman Nik Hussain Abdul Rahman said.

THE EDGE FINANCIAL DAILY (www.theedgedaily.com)

-- The power transition plan for Prime Minister and UMNO President Abdullah Ahmad Badawi to hand over the reins to his deputy in mid-2010 could be brought forward, and a special UMNO supreme council meeting has been called for Friday to discuss the issue.

-- Malayan Banking Bhd (Maybank) (MBBM.KL) upsized its fund-raising exercise by 500 million ringgit to 1.1 billion ringgit in innovative tier-1 capital securities on Thursday.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- The Securities Commission has granted global giant Nomura Group's application to establish a stockbroking company in the country under the government's initiative to strengthen the country's position as an international Islamic financial centre.

-- Four major foreign companies will be investing a total of 5.67 billion ringgit to undertake manufacturing activities in the Tanjung Langsat Industrial Complex in Johor, Johor Corp's Chief Executive Officer, Muhammad Ali Hashim said.