PRESS DIGEST - Malaysia - Nov 21
Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
ALL NWESPAPERS
-- Wanita (Women) UMNO Deputy Chief Shahrizat Abdul Jalil has finally confirmed that she will contest the No. 1 post, taking on incumbent chief Rafidah Aziz in March party polls.
THE STAR (www.thestar.com.my)
-- Do not mess things up because Malacca's status as a Unesco World Heritage Site will also be affected, Malacca Chief Minister Mohd Ali Rustam said.
-- The current large discount in the crude palm oil (CPO) price of $300 to $330 per tonne against soybean oil will further boost local palm oil exports in the next six months, but CPO price will remain depressed due to high stockpiles, analysts said.
NEW STRAITS TIMES (www.nst.com.my)
-- More government-linked companies should follow in Petronas' footsteps and look at business opportunities in Central Asia, said Prime Minister Abdullah Ahmad Badawi.
-- Malaysia is calling for international rating agencies to be regulated to ensure they are accountable for their actions in providing analyses of companies, International Trade and Industry Minister Muhyiddin Yassin said.
BUSINESS TIMES (www.btimes.com.my)
-- Malaysia may refine rules that govern the regulated short selling of shares, making it a more useful hedging tool for investors, Securities Commission Chairman, Zarinah Anwar said.
-- New car sales in October fell 13 percent over the same month last year and this is likely to continue for the rest of the year as consumer cut back on spending, Malaysia Automotive Association President, Aishah Ahmad said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com)
-- More bad news emerged overnight from the United States as the Federal Reserves braced itself to further slash interest rates given the dramatic worsening of the US economy, causing another round of selling pressure across Asia on Thursday.
-- BASF SE, the world's largest chemical company, will not lay off workers in Malaysia although it is temporarily shutting downs six plants in Kuantan as part of its plan to curb over production due to a significant decline in customer demand, a BASF spokesperson said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- The ringgit hit its lowest in two years against the US dollar on Thursday and currency analysts are not ruling out the possibility of it weakening further.
-- The Securities Commission (SC) is talking to prospective Indian asset management firms to establish operations in Malaysia, SC Chairman Zarinah Anwar said.
THE SUN (www.sun2surf.com)
-- Three weeks after his acquittal of abetment to murder of his former Mongolian lover, political analyst Abdul Razak Baginda on Thursday broke his silence, accusing bloggers of turning lies and assumptions into truth to the extent that the truth becomes irrelevant.
-- Current market conditions have opened up buying opportunities for long-term investors, said the Employees Provident Fund (EPF) Deputy Chief Executive Officer, investment, Johari Abdul Muid.
BERITA HARIAN (www.bharian.com.my)
-- Political analyst Abdul Razak Abdullah Baginda said Deputy Prime Mnister Najib Razak and wife Rosmah Mansor never met Mongolian women Altantuya Shaariibu.
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