PRESS DIGEST - Malaysia - Oct 8

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)

-- The selldown on Bursa Malaysia (BMYS.KL) has been more limited amid the free fall in other markets due to the defensive nature of the local bourse and because foreign funds had already exited earlier, analysts said.

-- Khazanah Nasional Bhd has roped in Internet protocol player Global Transit International Sdn Bhd to turn around Time dotCom Bhd (TCOM.KL) and to ensure its long-term operational and financial sustainability, Khazanah said in a statement.

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

-- Biotechnology will be the main driver of development at all of Malaysia's economic corridors, Prime Minister Abdullah Ahmad Badawi said.

BUSINESS TIMES

-- The Melewar group, owned by the Negri Sembilan royal family, may take insurance group MAA Holdings Bhd (MAAS.KL) private, its Chairman Ya'acob Abdullah said.

-- Malayan Banking Bhd (Maybank) (MBBM.KL) plans to buy another 16.3 percent of Bank Internasional Indonesia (BII) at a lower price, increasing its stake to 71.86 percent, Maybank said in a statement.

THE EDGE FINANCIAL DAILY (www.theedgedaily.com)

-- AirAsia Bhd's (AIRA.KL) single largest shareholder Tune Air Sdn Bhd is considering taking the low-cost carrier private at an indicative price of about 1.35 ringgit per share, but this remains an option and is subject to market conditions, AirAsia said in a statement.

-- Time dotCom Bhd (TCOM.KL) on Tuesday saw the entry of a new shareholder, a new business portfolio and a new chief executive officer to turn around its flagging fortunes.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- MAA Holdings Bhd (MAAS.KL) and Melewar Industrial Group Bhd (MSTM.KL) are being considered for a general offer exercise by its largest shareholder Ya'acob Abdullah.

THE SUN (www.sun2surf.com)

-- Five non-governmental organisations (NGOs) jointly launched a petition campaign on Tuesday to urge the government to repeal the Internal Security act (ISA) and release all detainees.

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