PRESS DIGEST - Malaysia - Aug 29

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)

-- Improving people's well-being especially those from the lower and middle-income groups is expected to be a major thrust of Budget 2009 which will be tabled on Friday.

-- Excitement today is focused on what the governemnt would do to put back some disposable income into the economy and boost domestic consumption, Executive Director at KPMG Tax Services Sdn Bhd, Pauline Tam said.

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

-- United Malays National Organisation (UMNO) will conduct an indepth study on why the Permatang Pauh electorate voted against Barisan Nasional (National Front) in the by-election, UMNO Deputy President Najib Razak said.

BUSINESS TIMES

-- Low-cost carrier AirAsia Bhd (AIRA.KL) said second quarter net profit plunged 95 percent to 9.4 million ringgit due to foreign exchange losses and high fuel costs.

-- UEM Group UEMW.KL has made a total buyout offer of 288 million ringgit for the rest of shares it does not own in Opus Group Bhd OPUI.KL and Pharmaniaga Bhd (PHMA.KL), UEM Group said in an announcement.

THE EDGE FINANCIAL DAILY (www.theedgedaily.com)

-- Opposition leader Anwar Ibrahim marked his return to parliament on Thursday after a decade's absence by leading an opposition walkout in protest against the government's refusal to refer the controversial DNA Identification Bill to a select committee.

-- Five months after a change in the government of Penang, Abad Naluri Sdn Bhd, the company that had wanted to undertake a controversial multi-billion-ringgit property development project in the state, received confirmation that its proposal had been rejected.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- Budget 2009, to be unveiled by Prime Minister Abdullah Ahmad Badawi in Parliament on Friday is expected to help lighten the people's burden in a high inflationary environment and sustain economic growth.

-- Sabah state-owned Sabah Air Aviation Sdn Bhd, which returned to the black this year, is all set to play catch-up and tap into the 1.65 billion ringgit ($500 million) offshore oil support services business outside Malaysia, its Chief Executive Officer Affendi Mohd Stephen said.

THE SUN (www.sun2surf.com)