PRESS DIGEST - Malaysia - July 11
Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
ALL NEWSPAPERS
- Abdullah Ahmad Badawi will step down as Prime Minister and UMNO president in June 2010 and has chosen Najib Razak as his successor.
NEW STRAITS TIMES (www.nst.com.my)
- Deputy Prime Minister Najib Razak on Thursday urged all UMNO members to support the transition plan and continue to support his "boss" Abdullah Ahmad Badawi as president of UMNO and prime minister.
BUSINESS TIMES (www.btimes.com.my)
- It's the Arab tourist season now, but tour and travel agents, hotel operators and shopping complexes say that not many are making their way in Kuala Lumpur.
- Banks are lending to each other at higher rates in the interbank market as they expect Bank Negara Malaysia to raise the key interest rate, analysts said.
THE STAR (www.thestar.com.my)
- Tenaga Nasional Bhd (TENA.KL) has sent a letter to independent power producers (IPPs), inviting them for a fresh round of talks in the wake of recent developments related to rising costs and the IPPs' unwillingness to pay windfall taxes, sources said.
- With more countries in the region raising key interest rates to combat inflation, it seems imminent that Malaysia may follow suit, economists said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
- After weeks of threatening to do so, the opposition led by its leader Wan Azizah Wan Ismail has submitted a motion of no confidence against Prime Minister Abdullah Ahmad Badawi.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
- The stock market on Thursday reacted mildly to news that opposition coalition Pakatan Rakyat (People Unity) had moved an urgent motion of no-confidence against Prime Minister Abdullah Ahmad Badawi.
- Wah Seong Corp Bhd (WAHE.KL) is disposing of its entire stake in Wasco Energy Australia Pty Ltd to WDS Ltd for a minimum value of 38.9 million ringgit cash, as part of a rationalisation exercise, the company said.
THE SUN (www.sun2surf.com)
- Senai Airport in Johor Baru is growing in popularity as the Johor government embarks on a eight-point strategy to bring in more tourists, especially from the ASEAN region, to the state, said state executive councillor for tourism Hoo Seong Chan.
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