PRESS DIGEST - Malaysia - Oct 27

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)

- Treasury officials will meet with their counterparts in other ministries and agencies over spending excesses and non-compliance with guidelines in procurement, Finance Ministry secretary-general Wan Abdul Aziz Wan Abdullah said.

- The government's proposal to reimpose the real property gains tax (RPGT) may ensure a more balanced property market in the long run but industry players see it as counter-productive to the ongoing efforts to stimulate investments in the property sector.

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

- Pan Malaysian Islamic Party (PAS) president Abdul Hadi Awang will hear out PAS spiritual leader Nik Abdul Aziz Nik Mat's explanation on his call for an extraordinary general meeting (EGM) to resolve the party's leadership problems.

BUSINESS TIMES (www.btimes.com.my)

- The reintroduction of a real property gains tax from January 1 next year appears to have triggered a rush to sell properties but agents said it will be very tough to beat the deadline.

- The Securities Commission (SC) said it took control of RBTR Asset Management Bhd because it breached rules under its fund management licence.

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

- Popular Internet news website Malaysiakini.com is in talks on a tie-up with payment systems operator MOL Access-Portal Bhd, a company under the stable of Vincent Tan, sources said.

- Response to Maxis Bhd's share sale, Malaysia's largest initial public offering (IPO), is said to be tepid thus far, with asking prices said to be near the lower end of the 4.80 ringgit ($1.42) and 5.50 ringgit price range that book-runners are indicating, a local fund manager said.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

- Tenaga Nasional Bhd (TENA.KL), the nation's largest electricity provider, saw its profit plunge more than two-fold for the fiscal year 2009 amidst slowing demand and increased operating costs, Tenaga Nasional said.

- Stockbrokers expect the liberalisation of commission sharing to add depth and liquidity to the market as it encourages remisiers to get more business, said chairman of the Association of Stockbroking Companies Malaysia, Saiful Bahri Zainuddin.

THE SUN (www.sun2surf.com)

- The Port Klang Authority (PKA) lodged complaints on Monday with the relevant professional bodies against three of its consultants involved in the scandal-hit Port Klang Free Zone project, PKA chairman Lee Hwa Beng said.

- Petroliam Nasional Bhd (Petronas) [PETR.UL] on Monday said it had awarded two production sharing contracts for Block SB309 and Block SB310 in offshore Sabah to a partnership between Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd.

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