THE STAR (www.thestar.com.my)
- Grieving families and upset Malaysians are questioning if breaches of safety precautions led to the deaths of a teacher and five students when their dragon boat capsized on Sunday.
- The Securities Commission (SC) is looking into the submission of Petra Perdana Bhd executive director Shamsul Saad, purportedly relating to 'breaches in procedures' over the sale of a block of Petra Energy Bhd shares belonging to Petra Perdana and also the sale of vessels by Petra Perdana to Petra Energy, an SC spokesman said.
NEW STRAITS TIMES (www.nst.com.my)
- There is no longer a need to quote reference numbers for government-related dealings from now on. The MyKad number will be enough, Deputy Prime Minister Manyuddin Yassin said.
BUSINESS TIMES (www.btimes.com.my)
- Composites Technology Research Malaysia Sdn Bhd, a government-owned maker of aircraft components, plans to carry out an initial public offering (IPO) in as early as 2011, chief executive officer Rosdi Mahmud said.
- Alliance Bank Malaysia Bhd's chief executive officer Bridget Lai, who is on leave amid an internal probe, has been given till Friday to respond to a set of questions from the board, sources said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
- The board of Ho Hup Construction Co Bhd has slammed an alternative regularisation plan proposed by its former managing director, Low Tuck Choy, saying it will further constrain its cash flow and fail to lift the construction outfit out of Practice Note 17 (PN17) status, Ho Hup said in a statement.
- Shares of Affin Holdings Bhd jumped as much as 12 cents or five percent on Monday as investors reacted to news on the financial services group's intention to acquire a bank in Indonesia, the Malaysian entity's first foray overseas.
THE MALAYSIA RESERVE (www.themalaysianreserve.com)
- Dubai Group LLC, an investment firm of the Dubai ruler, is eyeing to sell its stakes in Bank Islam Malaysia Bhd at an indicative one billion ringgit, marking the exit from its major investment in Malaysia, a source said.
THE SUN (www.sun2surf.com)
- UBG Bhd said the company and two of its subsidiaries have yet to receive any notice of takeover from PetroSaudi International Ltd, or its nominees, pursuant to the Malaysian Code on Takeovers and Mergers.
** Looking for more information from local sources? Reuters Business Briefing has 13 Malaysian sources including Business Times Malaysia. For details of the product please call your local help desk (PHONE/HELP).
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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)
- AirAsia X Sdn Bhd will spend up to $10 million to refurbish all its eight aircraft with the first plane to be grounded for the fitting on January 28, said chief executive officer Azran Osman-Rani.
- Genting Bhd, which has invested in US-listed MGM Mirage Inc's bonds, is looking at a number of investment opportunities in the United States, its chairman Lim Kok Thay said.
NEW STRAITS TIMES (www.nst.com.my)
- The United States has been asked to review the warden notice and travel alert on Sabah that it issued through its embassy in Kuala Lumpur, as it could create a 'wrong, misleading and negative impression' on the security situation in Malaysia, said Foreign Affairs Ministry deputy secretary-general 1 Mohd Radzi Abd Rahman.
BUSINESS TIMES (www.btimes.com.my)
- Gaming group Genting plans to set up a hub Iskandar Malaysia, Johor, that will feature a mall with premium outlets in the first phase and, later, hotels and a theme park, Genting Bhd chairman Lim Kok Thay said.
- The banking group EON Capital Bhd, which is being eyed for a takeover by Hong Leong Bank Bhd, on Tuesday asked for Bank Negara Malaysia's approval to talk to potential third parties and their related corporations in the country.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
- EON Capital Bhd has left the door open to negotiate with other banks, besides Hong Leong Bank Bhd , for a potential acquisition or disposal of assets and liabilities or a merger and acquisition (M&A).
THE MALAYSIA RESERVE (www.themalaysianreserve.com)
- Labuan banks and investments banks are now allowed to establish offices in other parts of Malaysia, in a move seen to allow them to conduct deals in markets like Kuala Lumpur where most of the financial transaction are conducted, a banker said.
- Ho Hup Construction Company Bhd, mired by boardroom tussles involving its top executives, is mulling making more reports against former managing director Low Tuck Choy.
THE SUN (www.sun2surf.com)
- The Federal Land Development Authority (Felda) will have to pay 11 million ringgit in damages to 354 settlers over payments for palm oil fruits after the agency's bid to bring up the matter for appeal was refused by the Federal Court, Putrajaya on Tuesday.
- Proton Holdings Bhd hopes to tap into Petronas Lubricants International's (PLI) vast resources, particularly research and development, in its efforts to expand into overseas markets through a 10-year agreement, Proton group managing director Syed Zainal Abidin Syed Mohamed Tahir said.
** Looking for more information from local sources? Reuters Business Briefing has 13 Malaysian sources including Business Times Malaysia. For details of the product please call your local help desk (PHONE/HELP).
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