PRESS DIGEST - Malaysia - Feb 26
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 Sultan of Selangor, Sultan Sharafuddin Idris Shah is unhappy over the invasion of Bukit Lanjan assemblywoman Elizabeth Wong's privacy but took no stance on whether she should remain in officd.
-- The Malaysian economy for the fourth quarter last year is expected to at best post a small growth but economists will be watching for tell-tale signs on how fast conditions have deteriorated.
BUSINESS TIMES (www.btimes.com.my)
-- Public Bank Bhd (PUBM.KL) is optimistic of solid earnings growth this year despite a tough economy and has pledged to maintain a high dividend payment, its co-Chairman Thong Yaw Hong said.
NEW STRAITS TIMES (www.nst.com.my)
-- Malaysia is aiming to be among the top 10 most competitive economies in the world, Prime Minister Abdullah Ahmad Badawi said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com)
-- Bank Negara Malaysia bold decision in slashing the key interest rate by 125 basis points over the past two months, on top of a 25 basis points cut last November, is a sign that a recession is looming large, economists said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- Malaysia Airports Holdings Bhd (MAHB.KL), which registered an increase of 5.71 percent in net profit to 305.82 million ringgit in its fiscal year ended December 31, 2008, is in talks to operate and manage airports in the Middle East and Africa, its Managing Director Bashir Abdul Majid said.
-- Expectations that the Malaysian economy will slip into a recession in 2009 have heightened following Bank Negara Malaysia's decision to reduce interest rates so soon after drastically cutting the overnight policy rate in January, economists said.
THE SUN (www.sun2surf.com)
-- Prime Minister Abdullah Ahmad Badawi has asked the Kedah and Perak UMNO chiefs to make early preparations for the Bukit Selambau and Bukit Gantang by-elections, which will be held simultaneously on April 7.
-- Tenaga Nasional Bhd (TENA.KL) is looking at reducing its exposure to foreign currency debt and concentrate on domestic and ringgit loans, its President Che Khalib Mohamad Noh said.
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