PRESS DIGEST - Malaysia - Aug 20
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)
-- The Securities Commission (SC) is actively reviewing complaints from minority shareholders of Unico Holdings Bhd on the proposed capital reduction and distribution of Unico-Desa Plantations Bhd (UICO.KL) shares, an SC spokesman said.
-- Telekom Malaysia Bhd (TM) (TLMM.KL) posted a marginal 1.8 percent increase in net profit to 114.7 million ringgit for its second quarter ended June 30 against 112.7 million ringgit in the year-earlier period, driven mainly by its broadband segment.
NEW STRAITS TIMES (www.nst.com.my)
-- At least three seed banks are needed for the expansion of agriculture across the country, Prime Minister Abdullah Ahmad Badawi said.
BUSINESS TIMES
-- Malasia's largest builder and power group YTL Corp Bhd's (YTLS.KL) net profit for its final quarter to June 30, 2008 fell 35.5 per cent to 231.5 million ringgit from 359.4 million ringgit in the same period last year, YTL Corp said.
-- CIMB Group has won the mandate to arrange a S$1 billion (2.36 billion ringgit) Islamic bond issue for Singapore-listed property developer, City Developments Ltd, an analyst said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com)
-- Telekom Malaysia Bhd (TM) (TLMM.KL) believes that it has the best proposal to wire up the country with its 15.2 billion ringgit high-speed broadband project and is awaiting the green light from the government for its rollout, its group Chief Executive Officer, Zamzamzairani Mohd Isa said.
-- Green Packet Bhd's (GRNP.KL) subsidiary and WiMAX operator Packet One Networks (Malaysia) Sdn Bhd (P1) expects to spend about one billion ringgit in the next four years to increase its coverage, as part of its effort to promote high-speed wireless broadband services to Malaysians, said its Chief Executive Officer, Michael Lai said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- Malaysian Merchant Marine Bhd (MMMB.KL) is looking at reviewing its capital structure and has held talks with several advisors on the subject, Deputy Chairman, Ramesh Rajaratnam said.
THE SUN (www.sun2surf.com)
-- Former Immigration Department director-general Wahid Md Don pleaded not guilty in a Sessions Court on Tuesday to receiving a 60,000 ringgit bribe from a businessman to speed up the approval of visas for 4,337 Bangladeshi workers.
-- Stockbrokers are in favour of shorter trading hours on Bursa Malaysia, research house said.
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