PRESS DIGEST - Malaysia - April 23

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 on Wednesday announced it would scrap the 30 percent bumiputera equity ruling for 27 services sub-sectors with immediate effect in a move to attract more investments, Prime Minister Najib Razak said.

THE STAR (www.thestar.com.my)

-- The ongoing leadership crisis in Terengganu took another twist with the arrest of a clerk-cum-blogger in Bangi on Monday, believed to be involved in sending out threatening SMSes to three of 10 Barisan Nasional (National Front) assemblymen last week.

-- Bank Negara is likely to cut the benchmark interest rate by another 25 basis points when it meets next week, economists said.

BUSINESS TIMES (www.btimes.com.my)

-- Maxis Communications Bhd will spend 1.6 billion ringgit to improve its network this year, more than double the amount being invested by its rivals, Maxis chief technology officer Jon Hoffman said.

-- BINAIK Equity Bhd BINK.KL, a property developer, is set to taken private in a deal worth some 19 million ringgit, making it the fourth company that wants its shares to be taken off Bursa Malaysia this year.

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

-- Bank Islam is seeking a summary judgement against Selangor Menteri Besar (Chief Minister) Abdul Khalid Ibrahim for alleged default of $18.5 million (66.6 million ringgit) in Islamic loan facilities made to him in 1998 in relation to the purchase of share in Kumpulan Guthrie Bhd.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- The consumer price index (CPI) rose 3.5 percent year-on-year in March 2009, but declined 0.2 percent from February's 3.7 percent, according to data compiled by the Statistics Department.

THE SUN (www.sun2surf.com)

-- Financial services institution Malaysia Building Society Bhd (MBSS.KL) is looking to finance a property project worth 300 million ringgit under its newly launched MBSB Musharakah Joint Venture Programme, its chief executive officer Ahmad Zaini Othman said.

UTUSAN MALAYSIA (www.utusan.com.my)