PRESS DIGEST - Malaysia - May 22
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)
-- Students sitting for the Sijil Pelajaran Malaysia examination may not be allowed to take as many subjects as they like in future, Deputy Prime Minister Muhyiddin Yassin said.
-- After a likely contraction this year, economists believe the local economy will expand three percent to four percent next year.
BUSINESS TIMES (www.btimes.com.my)
-- YTL Corp Bhd (YTLS.KL), a conglomerate with investments in the utilities, construction, property development and technology, said third quarter net profit more than doubled, helped by its cement business and additional contributions from one of its recent acquisitions.
-- Credit Guarantee Corp Malaysia Bhd (CGC) expects to approve credit guarantees totalling 3.5 billion ringgit ($992.3 million) in 2009, 17 percent more than a year ago, driven loan demand among small and medium enterprises, CGC managing director Wan Azhar Wan Ahmad said.
THE NEW STRAITS TIMES (www.nst.com.my)
-- Prime Minister Najib Razak will today restart talks with his Singapore counterpart, Lee Hsien Loong, on a suitable bridge to replace the 85-year-old Causeway.
THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)
-- Unrealised exchange loss on foreign currency borrowings of 175.5 million ringgit dented Telekom Malaysia Bhd's (TM) (TLMM.KL) bottom line in its first quarter ended March 31, 2009 (1QFY09), leading to its net profit plunging 76 percent to 27.7 million ringgit from 114.4 million ringgit a year earlier, TM said.
-- Although all technical issues, including the letter of indemnity sought by PricewaterhouseCoopers, have been cleared for the Port Klang Authority to release the Port Klang Free Zone report, the port authority's chairman Lee Hwa Beng said he no longer has the power to make public the matter because it is being deliberated in the cabinet.
THE SUN (www.sun2surf.com)
-- The Court of Appeal will deliver its judgement at 3.30pm today (Friday) on an appeal by Barisan Nasional Menteri Besar (Chief Minister) Zambry Abdul Kadir against a High Court ruling last week that Pakatan Rakyat's Mohammad Nizar Jamaluddin is the rightful menteri besar of Perak.
-- Malayan Banking Bhd (Maybank) (MBBM.KL) posted lower pre-tax profit of 2.5 billion ringgit for the nine months ended March 31, 2009 from 3.07 billion ringgit recorded in the same period last year, Maybank said in a statement. ($1=3.527 Malaysian Ringgit)
** Looking for more information from local sources? Reuters Business Briefing has 13 Malaysian sources including Business Times Malaysia. For details of the product please call your local help desk (PHONE/HELP).
