PRESS DIGEST - Malaysia - Oct 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)
-- Thousands of Malaysians working in Singapore risk losing their jobs with the island republic in a recession.
-- Conditions may seem ripe for Bank Negara to cut interest rates at the monetary policy meeting on Friday but economists feel the central bank may leave rates unchanged for the moment.
NEW STRAITS TIMES (www.nst.com.my)
-- Prime Minister Abdullah Ahmad Badawi wants Thailand and Cambodia to translate Asean's "friendly attitude and philosophy" into action in addressing an ongoing border dispute that intensified last week after a deadly gun battle.
BUSINESS TIMES
-- Scomi Engineering Bhd (SMNG.KL), which won its first overseas job for a monorail system in Mumbai last week, is eyeing two more Indian cities for monorail projects worth four billion ringgit over the next two years, Scomi Group Bhd's senior vice-president of group marketing, Kanesan Velupillai said.
-- Sime Darby Healthcare, the conglomerate's new unit that will oversee all its healthcare businesses, is eyeing expansion opportunities in emerging markets such as China, said Sime Darby supervisor committee chairman, Wan Zahid Noordin said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com)
-- A combination of easing demand, falling crude oil prices and fears of a global recession will see prices of crude palm oil (CPO) in a state of volatility in the next few months, Executive Chairman of IOI Group, Lee Shin Cheng said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
-- Wireless broadband provider Packet One Networks (Malaysia) Sdn Bhd (P1) is open for sharing of resources, including its local network infrastructure and possible regional WiMAX licences, P1 Chief Executive Officer Michael Lai said.
-- MISC Bhd (MISC.KL), Malaysian Airlines System Bhd (MAS) (MASM.KL) and Malayan Banking Bhd (Maybank) (MBBM.KL) are among the bluechip counters that may be investment targets for Valuecap Sdn Bhd, OSK Research said.
THE SUN (www.sun2surf.com)
-- UMNO Vice-President Muhyiddin Yassin has called for the format of Barisan Nasional (National Front) to be revamped to make component parties officially work together in serving communities across the racial divide.
-- Prudential Assurance Malaysia Bhd expects a high double-digit growth in the new business annual premium equivalent for its third quarter despite the current economic strains, Chief Executive Officer, Bill Lisle 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). ($1=3.416 Malaysian Ringgit)
