PRESS DIGEST - Malaysia - April 24
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 cabinet has decided that the children of parents who are divorced and where one parent converts to another religion have to be brought up in the "common religion at the time of marriage", Minister in the Prime Minister's Department Mohamed Nazri Abdul Aziz said.
-- The Minority Shareholder Watchdog Group (MSWG) is working with Bursa Malaysia Bhd (BMYS.KL) to come up with an organisation or a pool of independent directors for companies to choose from whenever they require independent directors, said MSWG chief executive offier Rita Benoy Bushon.
BUSINESS TIMES (www.btimes.com.my)
-- YTL e-Solution Bhd (YTLE.KL), a subsidiary of YTL Corp Bhd (YTLS.KL), plans to pump in almost three billion ringgit to set up a wireless broadband network in Peninsular Malaysia over the next five years, Managing Director Francis Yeoh said.
-- Hotel operator and property developer Pulai Springs Bhd (PULA.KL) has put its two-year-old Novotel Hydro Majestic Hotel in Kuala Lumpur up for sale, sources said.
NEW STRAITS TIMES (www.nst.com.my)
-- On his first official visit as prime minister, Najib Razak pledged to sustain a special relationship with Indonesia driven by continuity and a steady stream of new initiatives.
-- The lifting of the 30 percent Bumiputera ownership requirement in 27 services sub-sectors this week was an exercise in liberalisation to keep the country up with its much more competitive Asean neighbours, Prime Minister Najib Razak said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
-- Key regional markets shrugged off the weaker overnight close on Wall Street to close sharply higher, notching gains of more than two percent, while at Bursa Malaysia, plantation stocks led the Kuala Lumpur Composite Index (KLCI) to a six-month high.
-- The Employees Provident Fund (EPF) has been increasing its stake in the majority of banking stocks, the latest filings to Bursa Malaysia Securities show.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- Bursa Malaysia Bhd (BMYS.KL) is expected to announce new market making guidelines next week for exchange traded fund (ETFs) and possibly warrants in an effort to increase the liquidity of these asset classes on the exchange, a broker source said.
-- YTL e-Solutions Bhd (YTLE.KL) will invest 2.5 billion ringgit over the next five years in the roll-out of a nationwide mobile Internet network to cater for 14 million customers, its Managing Director Francis Yeoh said.
THE SUN (www.sun2surf.com)
-- The Malaysian Anti-Corruption Commission (MACC) on Thursday said it has not found evidence to prosecute former Penang deputy chief minister (1) Mohammad Fairus Khairuddin.
-- Share prices on Bursa Malaysia closed higher on Thursday on improved sentiment with strong interest seen in plantation, property and information and communication technology (ICT) related stocks, dealers said.
** 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). ($1=3.643 Malaysian Ringgit) ((Kuala Lumpur Newsroom; Tel: +603-2333 8046; Fax: +603-2072 6752; Bureau Email: areuters@gmail.com))
