Dec 4, 2009

Malaysia news digest

World map showing countries by nominal GDP per...THE STAR (www.thestar.com.my)
- The east coast of the peninsula is facing the full brunt of the third wave of monsoon rains.
- A distraught mother's eight-hour wait to meet a Cabinet minister over her daughter's citizenship issue has paid off - the 17-year-old daughter is now officially a Malaysian.
NEW STRAITS TIMES (www.nst.com.my)
- The proposed good and services tax (GST) is needed to overcome any drop in tax revenue that result from declining oil reserves, said Prime Minister Najib Razak.
BUSINESS TIMES (www.btimes.com.my)
- Proton Holdings Bhd expects 2009 net profit to surpass 200 million ringgit ($59.31 million), driven by increased sales, operating efficiency and the launch of new models, said its managing director Syed Zainal Abidin Syed Mohd Tahir.
- The Employees Provident Fund (EPF) says contributors can expect a higher dividend this year if the market recovery continues smoothly for the remaining period.
THE EDGE FINANCIAL DAILY (www.theedgedaily.com.my)
- The unprecedented amount of liquidity pumped into the financial system to reflate the global economy is putting pressure on China and could feed its asset price bubble to bursting point, a China investor group official said.
- The Employees Provident Fund's (EPF) investment income for the third quarter ended Sept. 30, 2009 jumped 52.71 percent to 5.5 billion ringgit ($1.63 billion) from 3.6 billion ringgit in the same quarter last year, riding on equities, loans and bonds.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com)
- In line with the recovery of the capital markets, the Employees Provident Fund (EPF) recorded a 52.71 percent growth in investment income to 5.5 billion ($1.63 billion) ringgit in the third quarter this year from 3.6 billion ringgit in the corresponding quarter last year.
- The Malaysian government can shrink its budget deficit to as little as 3 percent of gross domestic product next year by accelerating the sale of its shares in state-owned companies, Barclays Capital said.
THE SUN (www.sun2surf.com)
- Former air stewardess Yim Pek Ha had her 18-year jail sentence for abusing her Indonesian maid reduced yesterday to 12 years upon appeal.
- The huge jump in the number of Influenza A(H1N1) cases reported in the northern hemisphere lately is a reminder for all countries to be on the alert for a possible second wave of the killer flu, said Health Minister Liow Tiong Lai.
($1=3.372 Malaysian Ringgit) ($1=3.372 Malaysian Ringgit)