PRESS DIGEST - Malaysia - May 13

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 announced measures to hold down the price of rice on Monday, including securing supplies of price-controlled 15-percent-broken rice and setting price caps for two other grades of the grain, Prime Minister Abdullah Ahmad Badawi said.

THE STAR (www.thestar.com.my)

- Sabah Barisan Nasional politicians became the focus of attention on Monday as they continued to claim that the federal Government was not giving enough attention to the state.

- Steel stocks rallied after the government's move to liberalise the steel sector came into effect on Monday, with Southern Steel Bhd (STEE.KL) and Ann Joo Resources Bhd (ANNJ.KL) closing at 10-year highs as investors expected the liberalisation to enhance the players' earnings visibility.

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

- The Malaysian government and Thai rice exporters are deadlocked over the "price tag" for new purchases, with the world's biggest rice exporter insisting on the current market level of about $1,000 (3,197 ringgit) a tonne.

BUSINESS TIMES (www.btimes.com.my)

- Foreign investors have promised to pour in 1.4 billion ringgit to help develop the Tanjung Manis halal hub in Sarawak, Sarawak Chief Minister Abdul Taib Mahmud said.

- The 3 billion ringgit PNB Structured Investment Fund, launched to invest in structured products and a property trust that owns Permodalan Nasional Bhd (PNB) buildings, may generate returns of more than 6-7 percent a year, PNB President Hamad Kama Piah Che Othman said.

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

- Another Barisan Nasional (National Front) member of parliament from Sabah, Abdul Ghapur Salleh (Kalabakan-BN), has called for more funds to be channelled to the state by increasing its oil royalty to 20 percent from the current five percent.

- The board of Sarawak Hidro Sdn Bhd will have to decide on the amount of compensation to be paid to a consortium led by IMPSA (Malaysia) Sdn Bhd which is claiming an additional 245 million ringgit for a contract to supply four turbines to the Bakun hydroelectric project that was originally fixed at 464 million ringgit, Second Finance Minister Nor Mohamed Yakcop said.

THE MALAYSIAN RESERVE (news@themalaysianreserve.com)

- The Taiwan Stock Exchange, currently on an aggressive globalisation move, is sending a delegation to Kuala Lumpur for the first time to meet with Taiwanese entrepreneurs and local businessmen to entice them to list their companies in Taipei, National President of the Taipei Investors Association in Malaysia Ting Chung Cheng said.

- MISC Bhd's (MISC.KL) net profit slipped 14.79 percent to 2.43 billion ringgit for its financial year ended March 31, 2008, from 2.85 billion ringgit a year ago, as its taxes rose 112.8 percent to 71 million ringgit from 33.38 million ringgit in financial year 2007.

THE SUN (www.sun2surf.com)

- Packet One Networks (Malasyia) Sdn Bhd (P1) has enhanced its offerings for the converged telecommunications world by capitalising on Internet Protocol-based voice solutions with sister company Nextel Communications Sdn Bhd (Nextel), P1 Chief Executive Officer, Michael Lai 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).