PRESS DIGEST - Malaysia - July 14

Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

ALL NEWSPAPERS

- The government will announce another measures on Friday to help lighten the people's burden after the fuel price increase, Prime Minister Abdullah Ahmad Badawi said.

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

- Malaysia's economy is largely stable even though the country is facing a global crisis, including an increase in the prices of fuel and food, Prime Minister Abdullah Ahmad Badawi said.

BUSINESS TIMES (www.btimes.com.my)

- The Securities Commission is keeping a close eye on a dispute between Oilcorp Bhd (OILC.KL) and its auditor, an episode that has raised corporate governance concerns, industry executives said.

THE STAR (www.thestar.com.my)

- All eyes are on the outcome of an emergency motion of no-confidence against Prime Minister Abdullah Ahmad Badawi and his cabinet on Monday.

- Ingress Corp Bhd (IESS.KL) is tipped to have secured another 1 billion ringgit worth of contract to supply signalling and communication systems for the Ipoh-Padang Besar double-tracking railway project, an industry source said.

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

- A cutback in consumer spending resulting from declining disposable income is expected to take a toll on the economy in the second half of the year.

- The Anti-Corruption Agency cannot be fully independent until and unless the laws are amended, granting the agency full prosecution powers, Bar Council Chairwoman Ambiga Sreenevasan said.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

- Avenue Invest Bhd, a member of ECM Libra Avenue Group, has become the target of numerous investor complaints after the net asset value of two of its bond funds - BondEXTRA and IncomeEXTRA - fell more than 10 percent each within a single day last Monday without any prior warning by the company to investors.

- The Securities Commission has approved the applications of Kuwait Finance House, DBS Asset Management and CIMB-Principal Islamic Asset Management to set up Islamic fund management companies in Malaysia, Chairman Zarinah Anwar said.

THE SUN (www.sun2surf.com)

- Share prices on Bursa Malaysia will likely remain volatile this week with focus to be more on external factors while more stability is expected from the local political scene, dealers 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). ($1=3.275 Malaysian Ringgit)