PRESS DIGEST - Malaysia - May 2

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)

- Information Minister Ahmad Shabery Cheek will propose to cabinet on Friday to stop the live telecast as certain Members of Parliament (MPs) had turned parliamentary proceedings into a playground.

- This week saw once again a litany of accounting issues and deviation between unaudited and audited financial results announced by companies listed on Bursa Malaysia (BMYS.KL).

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

- Muslim nations must come together to face global uncertainties and the food crisis, Prime Minister Abdullah Ahmad Badawi said.

BUSINESS TIMES (www.btimes.com.my)

- Property developer and hotel owner IGB Corp Bhd (IGBS.KL) is in no hurry to sell the five-star Renaissance Kuala Lumpur, Executive Director Tan Boon Lee said.

- JPK Holdings Bhd (JPKH.KL), a loss-making plastic precision moulder, seems to have mistimed its share buyback this month as the stock has dramatically fallen.

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

- No sooner had Terengganu Chief Minister Ahmad Said warmed his seat as the state's new chief executive than two unsolicited contracts landed on his desk, awaiting his signature.

- The discrepancy in the share prices of Media Chinese International Ltd (MDCH.KL), which is listed both in Malaysia and Hong Kong, would be corrected by the dual-listing trading mechanism itself, Chief Executive Francis Tiong said.

THE MALAYSIAN RESERVE (news@themalaysianreserve.com)

- Malaysia's PPB Group (PEPT.KL) expects current high wheat prices to take a bite out of profit margins but hopes that its moves to buy the commodity forward and source it from non-traditional markets will minimise the sting, Managing Director Tan Gee Sooi said.

THE SUN (www.sun2surf.com)

- Pertubuhan Bunga Tanjung (PBT), the organisation for wives of Barisan Nasional (National Front) elected representatives in Penang, has challenged Chief Minister Lim Guan Eng and his chief of staff, Jeff Ooi, to an open debate on the handling of the group's funds and its contentious dissolution, PBT head Chui Kah Peng said.