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Financials

PRESS DIGEST - Malaysia - Oct 18

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)

* Government officials will soon be provided with hybrid electric cars in another effort to go green, said Energy, Green Technology and Water Minister Peter Chin Fah Kui.

* Shareholders of PLUS Expressways Bhd PLUE.KL have been advised to vote in favour of the 4.60 ringgit cash offer for the assets of the company, AmResearch analyst Hoy Ken majk said.

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

* UMNO takes centre stage this week with Prime Minister Najib Razak expected to deepen his arguments on racial unity in the tone-setting presidential address at its general assembly.

BUSINESS TIMES (www.btimes.com.my)

* Two companies, including a listed entity linked to businessman Mohan Swami, will partner world renowned Johns Hopkins Medicine International and the Royal College of Surgeons in Ireland (RCSI) in the 2 billion ringgit ($648.9 million) healthcare project announced during the 2011 Budget last Friday.

* The Bumiputera Automotive Fund, which was set up to boost development of Bumiputera entrepreneurs in the automotive field, has so far collected almost 226 million ringgit in levy paid for open Approved Permits (APs) this year, Deputy International Trade and Industry Minister Mukhriz Mahathir said.

THE SUN (www.sun2surf.com)

* More than 36,000 lives could be saved with the drafting of a law to allow organ donation between unrelated donors and recipients, Health Minister Liow Tiong Lai said.

* Construction and property companies are likely to be the main beneficiaries from the goodies or incentives as well as the hight-impact projects dished out under Budget 2011, tabled by Prime Minister Najib Razak in Parliament last Friday.

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

* A meeting between the Selangor state government and Suruhanjaya Pengurusan Air Negara (SPAN) is slated for today, to determine the critical issue of when taps in Selangor could run dry.

* Bina Puri Holdings Bhd BPUR.KL is expanding its exposure in electricity-generation projects overseas to establish a larger recurring income base.

THE MALAYSIAN RESERVE (www.themalaysianreserves.com)

* The proposed issuance of three additional stockbroking licences from the existing 35 has received mixed responses with some saying that it is a necessary move in opening up the local equities market to catch the next wave, while others see it as causing unnecessary heightened competition in an already overcrowded market.

* Malaysia has opted for “mega-projects” to boost short-term growth under Budget 2011 but skipped long-term structural economic reforms this time around, analysts said. ($1=3.082 Malaysian Ringgit)

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