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PRESS DIGEST - MALAYSIA - March 14
March 14, 2012 / 1:06 AM / 6 years ago

PRESS DIGEST - MALAYSIA - March 14

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)

* Preliminary findings by an accounting firm called in to review Silver Bird Group Bhd’s affairs indicate that the bread and confectionery maker remains a going concern, which means there is no reason to believe that the business will come to a halt anytime soon, sources said.

* Phison Engineering Corp will set up a branch in Malaysia, with operations targeted to begin in the next three to six months, Phison chairman and chief executive officer Pua Khein-Seng said.

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

* The government will consider introducing a second round of the one-off 500 ringgit ($160) aid for the poor and needy, under the 1Malaysia People’s Aid (BR1M) programme, if it collects higher revenue this year, Prime Minister Najib Razak said.

BUSINESS TIMES (www.btimes.com.my)

* Maybank Islamic Bhd (MIB), already the region’s largest Islamic bank by asset size, is pursuing an aggressive stance to further strengthen its presence in Indonesia and Singapore, its chief executive officer Muzaffar Hisham said.

* A wholly-owned unit of IJM Corp Bhd has bought a substantial 20 percent stake in 7.07 billion ringgit ($2.33 billion) highway concession holder West Coast Expressway Sdn Bhd for 6.8 million ringgit ($2.24 million), IJM Corp said in a statement.

THE SUN (www.thesundaily.my/)

* Bank Negara Malaysia (BNM) has been asked to submit a report on the My First Home Scheme, which has come under the fire after banks have reportedly refused to approve full loans to applicants earnings below 3,000 ringgit ($990), Deputy Finance Minister Donald Lim Siang Chai said.

* Malaysia should put off plans to further increase aircraft charges in 2013 and 2014, International Air Transport Association (IATA) director-general and chief executive officer Tony Tyler said.

THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)

* Could the remaining minority shareholders of YTL Cement Bhd - who are stubbornly holding on to their shares - get a better deal, or be a thorn in the flesh for YTL Corp Bhd <YTLS.KL?, YTL Cement said in a statement.

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

* Malaysian Airline System Bhd (MAS) expects further growth potential through its involvement in the Indian aviation maintenance, repair and overhaul (MRO) space through MAS GMR Aero Technic Ltd (MGAT) - a joint venture between MAS and GMR Hyderabad International Airport Ltd, MAS senior vice president Khairuddin Hamzah said.

($1 = 3.0345 Malaysian ringgits)

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