PRESS DIGEST - Malaysia - Nov 12

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)

- Shifting into an exciting phase and entering into a new era of in-depth growth - that was how Prime Minister Najib Razak and Chinese President Hu Jintao described the close ties between the two countries.

- Minority shareholders of The New Straits Times Press (M) Bhd (NSTP.KL) who are disgruntled over Media Prima Bhd's (MPRM.KL) takeover offer may soon have more than one reason to cheer, sources said.

NEW STRAITS TIMES (www.nst.com.my)

- Malaysian Chinese Association (MCA) deputy president Chua Soi Lek has offered his post to vice-president Liow Tiong Lai provided such a move ensured the party's unity and stability.

- Malaysians can expect a vigorous and all-inclusive Barisan Nasional (BN) in the near future as the necessary steps to turn BN into a more relevant political institution have been initiated, BN secretary-general Tengku Adnan Tengku Mansor said.

BUSINESS TIMES (www.btimes.com.my)

- Malaysian Resources Corp Bhd (MRCB) (MYRS.KL) plans to undertake its biggest development project ever in the Klang Valley by as early as next year, group managing director Shahril Ridza Ridzuan said.

- The country's oldest Islamic bank, Bank Islam Malaysia Bhd, says it plans to be active in the equity capital market, now that it has a licence to offer the full scope of Islamic Investment banking activities, its head of corporate investment banking Mashitah Osman said.

THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)

- China has finally got a piece of the electrified double-tracking railway project in the country after the Malaysian government agreed in principle for Chinese contractors to build the stretch between Gemas and Johor Bahru.

- Media Prima Bhd (MPRM.KL) is expected to revise upwards its offer for The News Straits Times Press (Malaysia) Bhd (NSTP.KL) shares it does not own by improving the swap ratio, sources said.

THE MALAYSIAN RESERVES (www.themalaysianreserve.com)

- Malaysia and China on Wednesday signed a series of memoranda of understanding (MOUs) that will see the two trading partners cooperate in various fields and projects as well as offer an increase in the exports of palm oil and timber to the Asian economic superpower.

- The Bank of East Asia Ltd's shares rose 15.2 percent or HK$4.40 (1.92 ringgit) to HK 33.35 percent a share on Wednesday on speculation that Guoco Group Ltd, controlled by Malaysian billionaire Quek Leng Chan, is aiming to increase its stake in the former, according to reports.

THE SUN (www.sun2surf.com)

- The mayor has nipped in the bud a 32.4 million ringgit three-year contract to supply flowers, sources said.

- The economy faces a bumpy road in its recovery from the fourth quarter of 2009, Malaysian Institute of Economic Research (MIER) executive director Mohamed Ariff aid.

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($1=3.400 Malaysian Ringgit)