PRESS DIGEST - Malaysia - May 29
Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
BUSINESS TIMES (www.btimes.com.my)
- Sime Darby Bhd (SIME.KL), the world's largest listed oil palm planter, said third quarter net profit more than doubled from a year ago because of stronger crude palm oil prices.
THE STAR (www.thestar.com.my)
- Expectations are high among Sabah leaders that Prime Minister Abdullah Ahmad Badawi will announce some "goodies" for the state during his visit this weekend.
- Malaysia's gross domestic product (GDP) grew 7.1 percent for the first quarter compared with 5.1 percent in the same quarter a year ago, driven by double-digit expansion in private and public consumption spending, Bank Negara Governor Zeti Akhtar Aziz said.
NEW STRAITS TIMES (www.nst.com.my)
- The government will decide on Friday on mechanisms to prevent foreign-registered vehicles from buying subsidised fuel at border areas, Prime Minister Abdullah Ahmad Badawi said.
- Former Parti Keadilan Rakyat (National Justice Party) Youth chief Mohamad Ezam Mohd Nor on Wednesday handed his application to rejoin UMNO to party President Abdullah Ahmad Badawi.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
- Former Terengganu Chief Minister Idris Jusoh has resigned as Terengganu UMNO chief, a post he held for four years.
- Ann Joo Resources Bhd (ANNJ.KL) will start producing flat-steel products by mid-2009 to expand its offerings, boost earnings and enter a market that has relatively few competitors, its Executive Director Lim Hong Thye.
THE MALAYSIAN RESERVE (news@themalaysianreserve.com)
- Bank Negara Malaysia on Wednesday announced further liberalisation of the foreign exchange administration rules that will provide greater flexibility and speed for the business community to obtain funding, BNM Governor Zeti Akhtar Aziz said.
THE SUN (www.sun2surf.com)
- RapidKL fares are going up with the government's proposal to stop subsidising the company with immediate effect to save tax-payers' money, said Deputy Prime Minister Najib Razak.
- The future of Proton Holdings Bhd (PROT.KL) looks good for its stakeholders as the national carmaker is set to regain its rightful place as the number one national car soon, Proton Vendors Association President, Wan Mohamed Wan Embong said.
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