PRESS DIGEST - Malaysia - May 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)
- United Malays National Organisation (UMNO) members must counter the notion that they are arrogant and corrupt, said Prime Minister Abdullah Ahmad Badawi.
- Timber giant Ta Ann Holdings Bhd (TAAN.KL) is looking at substantially expanding its oil palm plantation within the next five years to balance its business portfolio, group Managing Director Wong Kuo Hea said.
NEW STRAITS TIMES (www.nst.com.my)
- United Malays National Organisation (UMNO) must dispel the perception that the party, and the Barisan Nasional (National Front), are arrogant and feeble, Prime Minister Abdullah Ahmad Badawi said.
BUSINESS TIMES (www.btimes.com.my)
- CCK Consolidated Holdings Bhd (CCKH.KL), a Sarawak-based poultry and seafood processing company, will spend 20 million ringgit to widen its retail footprint in Sabah and Peninsular Malaysia, CCK Managing Director John Tiong said.
- I-Berhad (IBHD.KL), a household appliance maker, has received offers from the Middle East and South Korean investors to buy some of its properties at the 2 billion ringgit I-City project, a futuristic commercial development in Shah Alam, Selangor, Chief Executive Officer Tey Siew Thuan said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
- Public Bank Bhd (PUBM.KL) recently overtook Malayan Banking Bhd (Maybank) (MBBM.KL) as the country's largest banking group in terms of market value, but still trails in terms of assets, analysts said.
THE MALAYSIAN RESERVE (news@themalaysianreserve.com)
- The number of outsourcing companies permitted to bring in foreign workers would be slashed to almost half its present number, says Home Minister Syed Hamid Albar.
THE SUN (www.sun2surf.com)
- Prime Minister Abdullah Ahmad Badawi says the Barisan Nasional federal government can fall if it fails to tackle the food crisis and inflation.
- The outlook for property market this year remains positive due to strong domestic consumption, high market liquidity and loans being reasonably cheap, Zerin Properties Sdn Bhd Chief Executive Previndran Singhe 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).
