August 11, 2011 / 12:10 AM / 9 years ago

PRESS DIGEST - MALAYSIA - Aug 11

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)

* All premises housing wildlife, including pet shops, will now have to apply for permits to continue operating under the new Wildlife Conservation Act 2010, Department of Wildlife and National Parks (Perhilitan) director-general Abd Rasid Samsudin said.

* Long-haul budget carrier AirAsia X has chosen Morgan Stanley as its adviser for its proposed initial public offering (IPO) for which listing plans, targeted for next year, were underway, said AirAsia group chief executive officer Tony Fernandes.

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

* Budget 2012 will focus on tackling the rising cost of living, Prime Minister Najib Razak said.

BUSINESS TIMES (www.btimes.com.my)

* The immediate priority for Malaysia Airlines’ (MAS) executive committee is to outline a strategy to regain its position as a premium airline that can compete with the likes of Singapore Airlines and Cathay Pacific, a source said.

* Malaysia’s oil palm plantation industry is expected to gradually adopt the Malaysian Agricultural Producers Association pay hike proposal for some 157,270 plantation workers nationwide, industry executives said.

THE SUN (www.thesundaily.my/)

* Air travel will cost more soon when airport tax, or passenger service charge, is raised from next month, sources said.

* Land & General Bhd is looking to spread its wings to Johor and is in talks with some landowners there to acquire properties, its managing director Low Gay Teck.

THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)

* Amidst a small rebound in local equities which saw the FBM KLCI registering a 0.57 percent gain after three days in the red, shares in both Malaysian Airlines System Bhd (MAS) and AirAsia Bhd saw active trading after a two-day suspension as investors reacted to the share swap exercise between the two companies’ shareholders, the analyst said.

* Terengganu-based construction outfit Ahmad Zaki Resources Bhd has reached financial close with Bank Pembangunan Malaysia Bhd for the 1.5 billion ringgit KL Outer Ring Road (KLORR) priject, industry sources said.

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

* Property developer Mah Sing Group Bhd is targeting land acquisition which could potentially yield five billion ringgit to seven billion ringgit in gross development value (GDV) compared to 10 landbanking transactions in 2010 with combined GDV of approximately four billion ringgit, group managing director/chief executive Leong Hoy Kum said.

($1=3.118 Malaysian Ringgit)

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