PRESS DIGEST - Malaysia - April 17

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)

- Refunds by the Inland Revenue Board will automatically be banked into taxpayers' bank accounts under e-Refund, its Chief Executive Officer Hasmah Abdullah said.

- A 250 million ringgit hotel project by Ivory Properties Group has attracted the attention of overseas investors who are keen to acquire the property, General Manager Chok Keng Vui said.

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

- The National Front coalition must do more to attract the support of non-Malays, UMNO Deputy President Najib Razak said.

BUSINESS TIMES (www.btimes.com.my)

- Malaysia's smallest hypermarket in terms of outlets, Carrefour, appears to have skirted rules by moving into the convenience store business, sources said.

- Plantation Industries and Commodities Minister Peter Chin Fah Kui said the government may scrap the cess it imposed on palm oil planters to help stabilise cooking oil sold to consumers.

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

- Higher costs of funding and widening credit spreads have led to some local and foreign issuers preferring to delay their fund raising.

- Country Heights Holdings Bhd's (CHHB.KL) founder and group managing director Lee Kim Yew will relinquish his executive role in the property outfit and assume the position of non-executive deputy chairman effective April 22, the company said in a statement.

THE MALAYSIAN RESERVE (news@themalaysianreserve.com)

- The ringgit is expected to strengthen to below three ringgit against the US dollar by year-end, based on the country's resilient economy and strong banking sector, Malaysian Institute of Economnic Research (MIER) Executive Director, Mohamed Ariff said.

- UEM Group Bhd's proposed 4.3 billion ringgit Penang Second Crossing Bridge may be delayed by nine months as parties involved in the project are seeking additional time to fulfill their respective obligations in an earlier agreement to develop the infrastructure, UEM Builders UEMU.KL said in a statement.

THE SUN (www.sun2surf.com)

- The cabinet is expected to decide on the concept and implementation of the Food Security Policy at its meeting next Wednesday, in a move to ensure the people get enough food supply and at reasonable prices, with subsidy where necessary, Domestic Trade and Consumer Affairs Minister Shahrir Abdul Samad said.

UTUSAN MALAYSIA (www.utusan.com.my)

- The government will announce three to four initiatives soon to ease the people's burden following the increase in prices of goods, Deputy Prime Minister Najib Razak said.

- Scomi Engineering Bhd (SMNG.KL) will prepare a feasibility study on a monorail technology in Vietnam, its President Hilmy Zaini said. ($1=3.187 ringgit) ** 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).