PRESS DIGEST - Malaysia - Sept 22
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)
-- The Road Transport Department (JPJ) is going on a nationwide blitz with almost 700 additional enforcement personnel reporting for duty this month, JPJ Enforcement Director Salim Parlan said.
-- Hap Seng Consolidated Bhd (HAPS.KL) expects earnings to be sustainable on the back of its existing businesses despite uncertainty in the global economic outlook, group Managing Director Edward Lee Ming Foo said.
NEW STRAITS TIMES (www.nst.com.my)
-- Deputy Prime Minister Najib Razak's first day as finance minister on Monday will see him tackling two of the most important issues: the price of fuel at the pump and the depreciating ringgit against the US dollar.
BUSINESS TIMES
-- Firefly, a low-fare community airline wholly owned by Malaysia Airlines (MAS) (MASM.KL), said it is open to strategic investors as it looks to grow, FlyFirefly Sdn Bhd Managing Director Eddy Leong said.
-- Malaysia is probably headed for its slowest initial public offering (IPO) market in almost 20 years, as a weak stock market takes its toll on fund-raising efforts.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com)
-- The subprime mortgage crisis leading to a financial meltdown in the United States has raised concerns over the viability of the independent investment banking model encompassing stand-alone securities firms and the traditional merchant banking business.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- Vastalux Energy Bhd (VTLE.KL) is expected to have a significant role in Lynas Corp Ltd's venture to set up its first plant outside Australia.
-- Initial public offerings (IPOs) this year have been badly affected by the bearish market performance and negative investor sentiment as share prices of newly-listed companies declined an average of 23.66 percent as of last Friday.
THE SUN (www.sun2surf.com)
-- The Selangor state government will draft a law and amend its State Assembly Orders to give the legislature and its committees more bite to compel witnesses to testify against abuse of power, its Speaker Teng Chang Khim said.¦
-- Gerakan has called on the government to set up a parliamentary select committee to review all aspects of the Internal Security Act (ISA), its Acting President Koh Tsu Koon 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).
