PRESS DIGEST - Malaysia - June 2

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)

- Mumbai-based Sunil Mantri Realty Ltd (Sunil Mantri) plans to pump in some $100 million (324 million ringgit ) to participate in the development of Bandar MSC Cyberport in Kulai, the first Multimedia Super Corridor (MSC) cybercity in Johor, MSC Cyberport Chief Executive Officer Ganesh Kumar Bangah said.

- Malaysian companies reported earnings that were generally within expectations albeit with a slight downside bias in the January-March quarter, analysts said.

THE STAR (www.thestar.com.my)

- Owners of locally-made cars not already fitted with rear seat belts will get them installed for free, Transport Minister Ong Tee Keat said.

- UMNO supreme council members will "pull no punches" when they gather at a two-day retreat to discuss how best to rebuild and move the party forward following its setback in the general election.

- Interior fit-out company LCL Corp Bhd (LCLC.KL) is close to securing the first few packages of a major fit-out project for Dubai's Meydan Racecourse, LCL group Managing Director Low Chin Meng said.

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

- ASEAN is willing to provide more relief for the victims of cyclone Nargis, and Myanmar should let it, Deputy Prime Minister Najib Razak said.

- The government has struck a deal with car manufacturers to provide and install rear seat belts without charge in locally-manufactured cars soon, Transport Minister Ong Tee Keat said.

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

- The story of Ann Joo Resources Bhd (ANNJ.KL) is one that encapsulates far-sightedness, and a steely commitment to follow through a well-defined expansion strategy to transform itself from a scrap metal dealer over 60 years ago to a prominent steel miller and trader in Malaysia today, its Executive Director Lim Hong Thye said.

THE MALAYSIAN RESERVE (news@themalaysianreserve.com)

- The Swiss-based ICB Banking Group, controlled by former Malaysian finance minister Daim Zainuddin and listed on the London Stock Exchange's Alternative Investment Market last May, plans to embark on an awareness roadshow, ICB Financial Group Holdings AG Chief Executive Officer, Harith Harun said.

- Golden Plus Holdings Bhd's (GPLU.KL) boardroom tussle in its extraordinary general meeting (EGM) last week is reminiscent of the tussle in Ayer Molek Rubber Company Bhd (AMolek) (AMRS.KL) last year.

THE SUN (www.sun2surf.com)

- Tune Money Sdn Bhd, which operates the no-frills web-based financial services portal Tune money.com, is entertaining the possibility of selling a stake in the company to strategic investors either local or international, its Chief Executive Officer Tengku Zafrul Aziz said.

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