August 23, 2011 / 12:05 AM / 9 years ago

PRESS DIGEST - MALAYSIA - Aug 23

Aug 23 (Reuters) - Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

ALL NEWSPAPERS

* The country’s largest bank, Malayan Banking Bhd (Maybank) , posted a 26.5 percent increase in 4Q net profit, buoyed by strong loans growth and a better performance across all its business segments, making it a record year for the banking group.

THE STAR (www.thestar.com.my)

* Low-cost carrier AirAsia Bhd will only start equity accounting its share of profits from Thai AirAsia (TAA) and Indonesia AirAsia (IAA) when the amount of unrecognised losses from these associates have been reversed, the airline said.

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

* Two key initiatives have been launched to enable Public Service Department scholars to play a key role in driving the nation’s transformation.

BUSINESS TIMES (www.btimes.com.my)

* The country’s largest banking group, Malayan Banking Bhd (Maybank) , plans to refresh its brand in a move to keep up with the times and reflect its progress, chief executive officer Abdul Wahid Omar said.

* English football club Manchester United has hired a slew of banks including Malaysia’s CIMB Group for its planned listing on the Singapore stock exchange, according to news portal Finance Asia.

THE SUN (www.thesundaily.my/)

* Construction outfit and property developer Gabungan AQRS Bhd, enroute to a listing on the main market of Bursa Malaysia, has postponed the launch of its prospectus for its initial public offering (IPO), sources said.

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

* Oil palm planter IJM Plantations Bhd is investing more than 1 billion malaysian ringgit ($336,757,029.803) to double its total planted area in Indonesia to 40,000ha and expects to see substantial earnings contribution from the venture from 2014 onwards, IJM Plantations chief financial officer Puru Kumaran said.

* Petronas Dagangan Bhd , the best-performing stock in Malaysia’s benchmark index this year, plans to extend its reach in South-East Asia after making its first overseas venture into Indonesia, its chief executive officer Amir Hamzah Azizan said. ($1 = 2.970 Malaysian Ringgits) (Kuala Lumpur newsroom, +603 2333 8046; fax +603 2161-3340, areuters@gmail.com))

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