PRESS DIGEST - Malaysia - March 30

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

ALL NEWSPAPERS

- Kedah's Bukit Selambau assembly by-election is a historic 15-corner electoral battle with the Barisan Nasional (National Front) and Pakatan Rakyat (People's Alliance) battling it out with 13 Independents.

THE STAR (www.thestar.com.my)

-- The 4.5 billion ringgit second Penang bridge project and two billion ringgit Penang Sentral transportation and logistics hub will proceed as planned, Prime Minister Abdullah Ahmad Badawi said.

-- CIMB Islamic, the global Islamic banking and finance franchise of the CIMB Banking Group, has 19 mandates from clients in Asia, including the Middle East, to raise nearly $2.5 billion from Islamic capital markets, CIMB Islamic chief executive officer Badlisyah Abdul Ghani said.

BUSINESS TIMES (www.btimes.com.my)

-- HwangDBS Investment Bank Bhd plans to arrange more syndicated loans to companies, particularly in the oil and gas sector, taking advantage of the still seized up bond market and stricter bank lending, managing director Lee Jim Leng said.

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

-- Prime Minister Abdullah Ahmad Badawi has given an assurance that all development projects planned for Kepala Batas, Penang will be implemented even after he retires.

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

-- A year has passed since a passer-by stuck a two-dollar bill in jest on the glass door of Bear Stearns' headquarters in New York, after the investment bank collapsed under the weight of toxic assets and was absorbed by JPMorgan Chase & Co for $240 million (868.8 million ringgit), or $2 (later revised to $10) per share.

-- Mesdaq Market-listed Cuscapi Bhd (CUSC.KL) is set to grow its revenue with a new outsourcing deal in China and two more expected to be clinched by the middle of this year, Cuscapi Outsourcing Managing Director, Francis Meganathan said.

THE MALAYSIAN RESERVE (www.themalaysianreserves.com)

-- Malaysia has been selected as one of the investment destinations of Zurich-based Vontobel Group through its Vontobel Fund - Global Responsibility Asia (Ex Japan) (VFGRA) which focuses on socially responsible corporate practices or CSR in its portfolio construction, Investment Content Manager at Vontobel asset Management, Steffi Schanz said.

-- Kurnia Insurans (Malaysia) Bhd plans to grow its non-motor insurance business to reduce reliance on its motor insurance segment in anticipation of slower car sales, general manager for agency distribution channel Pang Yoke Nam said.