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)
* Sand worth millions of ringgit is being illegally “floated” out of the country daily via Sungai Johor in Johor Baru, a source said.
* China’s banking regulator has recognised Malaysia as an approved investment destination, paving the way for an inflow of Chinese funds into this country, Securities Commission’s chairman Zarinah Anwar said.
* Khazanah Nasional Bhd’s partial takeover offer of Singapore-listed Parkway Holdings Ltd at S$3.78 per share is reasonable but “not compelling”, said independent financial adviser Morgan Stanley Asia (S) Pte.
NEW STRAITS TIMES (www.nst.com.my)
* A school-based assessment system may be introduced if the proposal to scrap the Ujian Pencapaian Sekolah Rendah (UPSR) and Penilaian Menengah Rendah (PMR) is accepted, Deputy Prime Minister Muhyiddin Yassin said.
BUSINESS TIMES (www.btimes.com.my)
* The Sunway construction and property group may build a one billion ringgit university hospital to expand its education and healthcare business, sources said.
* Malaysia, which has been in the forefront in developing international standards for the halal industry, has launched two new standards for the cosmetics and logistics businesses, a move which will expand the global halal market potential, Prime Minister Najib Razak said.
THE SUN (www.sun2surf.com)
* Legalised sports betting is “not a problem” in Malaysian society, Information Communication and Culture Minister Rais Yatim said.
* Berjaya Land Bhd (B-Land) (BLAD.KL) recorded a higher revenue of 1.13 billion ringgit for the fourth quarter ended 30 April 2010 compared to 971.7 million ringgit in last year’s corresponding quarter, the group said in a statement.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
* Shareholders of oil and gas provider M3nergy Bhd MRGY.KL are mulling a conditional takeover offer, this time around at 1.85 ringgit per share in what is the second takeover offer for the company in a span of nearly two years, sources said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
* Fajr Capital Ltd, the Islamic investment firm in which Khazanah Nasional Bhd has a 25 percent stake, is buying into Bank Islam Brunei Darussalam Bhd in one of its first significant investments since its inception last year, an industry source said.
* Heitech Padu Bhd (HEIT.KL), an information technology solutions provider, targets to double its overseas revenue this year, eyeing public sector projects abroad even as governments worldwide plan spending cuts, its executive chairman Mohd Hilmey Mohd Taib said.
($1=3.251 Malaysian Ringgit)