PRESS DIGEST - Malaysia - Feb 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)

-- Credit card interest rates and penalty fees are going down, Association of Bank Malaysia (ABM) Chairman Abdul Hamidy Abdul Hafiz said.

-- Foreign exchange (forex) trading and operations have surfaced as a more substantial source of earnings for banks following volatile currency movements, said analysts.

-- Companies should continue with their corporate responsibility initiatives even during times of crises, said Securities Commission Chairman Zarinah Anwar.

BUSINESS TIMES (www.btimes.com.my)

-- Malaysia Airports Holdings Bhd (MAHB.KL) has secured a 950 million ringgit ($262.6 million) loan from CIMB Islamic Bank to develop, among other things, a permanent low-cost carrier terminal (LCCT) at the KL International Airport (KLIA) in Sepang, its Managing Director Bashir Ahmad said.

-- Synovate, a research firm, expects passenger car sales in Malaysia to fall 15.5 percent to 420,000 units this year as business slows and unemployment increases, Synovate Motoresearch senior Vice-President Stephen Popiel said.

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

-- Civil servants need to be more creative in implementing policies which should also become more people-friendly overtime, Prime Minister Abdullah Ahmad Badawi said.

THE EDGE FINANCIAL DAILY (www.theedgedaily.com)

-- Tenaga Nasional Bhd (TENA.KL) expects its new tariff structure to cut its annual revenue by between 1.1 billion ringgit and 1.2 billion ringgit, its President and CEO Che Khalib Mohamad Noh said.

-- Malaysia Airports Holdings Bhd (MAHB.KL) will be able to enjoy higher passenger service charges, better known as airport tax, as well as settle its debts owing to the government under its financial restructuring plan that was unveiled on Thursday, its Managing Director Bashir Ahmad said.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- Following reductions in the base lending rate to help consumers cope with the economic downturn, banks will reduce the yearly interest rate for credit cards to as low as 13.5 percent, the Association of Banks in Malaysia said.

THE SUN (www.sun2surf.com)