PRESS DIGEST - Malaysia - Sept 2
Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
* Bank Negara Malaysia (BNM) has issued four new family takaful licences following the liberalisation of the insurance sector in the middle of last year to increase the insurance penetration rate in the country, BNM said in a statement.
THE STAR (www.thestar.com.my)
* Malaysia and Indonesia must take a common stand to resolve the current tension between the two countries and not let any other party make matters worse, Prime Minister Najib Razak said.
* Bank Negara is engaging with banks on possible measures to curb excessive speculation on property prices while developers caution that it should not be imposed across the board to avoid dampening the property market, the central bank said.
NEW STRAITS TIMES (www.nst.com.my)
* Sultan Sharafuddin Idris Shah of Selangor has suspended the datukship titles conferred on former transport minister Ling Liong Sik and O.C. Pahang following criminal charges filed against them over the Port Klang Free Zone issue.
BUSINESS TIMES (www.btimes.com.my)
* Brazil's Vale SA, the world's largest iron ore producer, plans to call for an international tender as early as November to help build a seaport in Teluk Rubiah, Perak near the Straits of Malacca.
THE SUN (www.sun2surf.com)
* Inspector-General of Police (IGP) Musa Hassan's service contract, which ends of September 12, will not be extended for a third time, Home Minister Hishammuddin Hussein said.
* Petronas will acquired BP's 15 percent and 60 percent interests in Ethylene Malaysia Sdn Bhd and Polyethylene Malaysia Sdn Bhd respectively for $363 million cash (1.13 billion ringgit), Petronas said.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
* JCY International Bhd's (JCYI.KL) share price continued to plunge on Monday, falling 7.25 percent or seven cent to 89.5 cent, a dealer said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
* The move to introduce a cap on the loan-to-value ratio (LVR) for mortgages at 80 percent would be counter-productive, industry players said.
($1=3.138 Malaysian Ringgit)
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