PRESS DIGEST - Malaysia - March 10
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 government's mini budget must address issues of financing for businesses and provide incentives to boost private consumption, said various groups.
-- United Malacca Bhd (UMRS.KL) has aborted its maiden oil palm plantation joint venture in Indonesia after about one year of negotiations, its Chief Executive Officer Leong Tat Thim said.
BUSINESS TIMES (www.btimes.com.my)
-- Tenaga Nasional Bhd (TNB) (TENA.KL) believes that there is a "very strong case" to justify a review of all the power pacts it has with independent power producers (IPPs) to ensure reasonable tariffs for consumers and a sustainable sector, its Chairman Leo Moggie said.
-- British hypermarket operator Tesco may give French rival Carrefour a run for its money in Malaysia as it looks to enter the convenience store business through franchising.
NEW STRAITS TIMES (www.nst.com.my)
-- Malaysian King Tuanku Mizan Zainal Abidin said the country can only move forward if Malaysians remain united.
-- Malaysian Trades Union Congress (MTUC) Vice-President A. Balasubramaniam says the workforce is already under great stress and the influx of foreign workers will further aggravate the situation.
THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)
-- Penny stocks abound in the market. This follows the massive selldown by investors concerned about the country's economic fundamentals and political tension against the backdrop of a weaker global economic landscape, fund managers and analysts said.
-- While there are some who believe now is the time to jump right into the markets considering how low they have fallen, there are others who reckon it's best to adopt a conservative investment strategy for now at least, until the middle of the year, CIMB Private Banking's co-head Carolyn Leng said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- Naza Group is currently in talks with French carmaker PSA Peugeot-Citroen to jointly develop a compact car, sources said.
-- Business activity and the life of people in Perak have been negatively affected by the current political stalemate, and the business community is showing its impatience towards politicians, President of the Perak Chinese Chamber of Commerce and industry Lim Kok Cheong said.
THE SUN (www.sun2surf.com)
-- Work visas have been issued to some 70,000 Bangladeshis who are expected to take up jobs in the country soon and the Malaysian Trades Union Congress (MTUC) wants the permits revoked, its Vice-President A. Balasubramaniam said.
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