August 2, 2011 / 12:40 AM / 9 years ago

PRESS DIGEST - MALAYSIA - Aug 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)

* Lestari Pasifik Bhd, in an unprecedented joint venture with Russian company Arter Group, is expecting to receive project financing from the Chinese government to build bio-refinery plants in Malaysia and Indonesia to produce biofuel from second generation bioethanol.

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

* Immigration offices will open round the clock until Aug 14 to register illegal immigrants under an amnesty exercise that started yesterday.

BUSINESS TIMES (www.btimes.com.my)

RHB Capital Bhd , which is on the lookout for acquisitions in Southeast Asia, is still keen on buying PT Bank Mestika Dharma, an official said, quashing speculation that it may drop the deal as Indonesia looks to cap foreign ownership in banks.

THE SUN (www.thesundaily.my/)

* The recently proposed food stamps scheme will have to be studied carefully before any announcements on it are made, Domestic Trade, Consumerism and Cooperatives Minister Ismail Sabri Yaakob said yesterday.

THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)

* Large oil palm planters like Lee Shin Cheng’s IOI Corp Bhd , which last week paid 830 million ringgit ($282.5 million)for close to 12,000 hectares of mature oil palm estates in Sabah, aren’t a favourite among investors currently due to the bearish outlook for crude palm oil prices.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com.my)

* Former corporate high flyer Halim Saad is believed to be eyeing Lembaga Tabung Haji’s 25 percent stake in Ramunia Holdings Bhd , an oil and has company currently nursing its PN17 status.

($1 = 2.938 Malaysian Ringgit)

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