PRESS DIGEST - Malaysia - March 13
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)
-- Six people who allegedly insulted the Sultan of Perak via their blogs or by posting of comments are likely to be the first of many people to be charged today under the Communications and Multimedia Act.
-- MMC Corporation-Gamuda Joint Venture Sdn Bhd plans to employ 6,000 more new workers and give out the remaining 100 sub-contracts worth two billion ringgit this year as works on the 329 km electrified double-tracking railway project connecting Ipoh and Padang Besar hit full throttle, company director Azmi Mat Nor said.
BUSINESS TIMES (www.btimes.com.my)
-- Two tycoons and a royalty will go ahead and build the 2.5 billion ringgit Four Seasons Place in Kuala Lumpur although a global economic crisis threatens to hurt demand for expensive hotels and apartments, Venus Assets Chairman Syed Yusof said.
-- MMC Corp Bhd (MMCB.KL) and Gamuda Bhd (GAMU.KL) say they can sort out land purchase issues and complete the 12.5 billion ringgit electrified double-track rail project on time, company executive director Azmi Mat Nor said.
NEW STRAITS TIMES (www.nst.com.my)
-- Deputy Prime Minister Najib Razak said the 60 billion ringgit mini-Budget was not a "silver bullet" against the global economic downturn.
-- The government is placing greater emphasis on the services sector as an engine of growth, Prime Minister Abdullah Ahmad Badawi said.
THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)
-- AmInvestment Bank Bhd on Thursday launched up to 100 million ringgit of zero-strike warrants over investment guru Warren Buffett's Berkshire Hathaway Inc Class B shares priced at one ringgit per zero strike.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- Malayan Banking Bhd (Maybank) (MBBM.KL), the country's biggest bank, fell for an 11th day, capping its longest losing streak in 22 years, on speculation bad debts will increase and capital-raising plans will erode earnings.
-- MIDF Amanah Investment Bank Bhd (MIDF Investment) is pinching back a local talent in Islamic finance from the Middle East as its new deputy chief executive officer, sources said.
THE SUN (www.sun2surf.com)
-- Tourism Minister Azalina Othman Said met with Prime Minister Abdullah Ahmad Badawi on Thursday over investigations by the Malaysian Anti-Corruption Commission (MACC) into money politics and her ministry's activities.
-- Billionaires from the Asia-Pacific region have been affected by the global financial crisis, with only 130 Asians making the Forbes 2009 world billionaires list, a drop from 211 last year, Forbes said in a statement.
-- Deputy Prime Minister Najib Razak on Thursday gave his assurance that the country's credit rating will not be affected by the 7.6 percent fiscal deficit as more money would be disbursed in the mini budget to stimulus the economy.
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