PRESS DIGEST - Malaysia - Sept 8

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)

-- Fifty members of the Barisan Nasional (National Front) Backbenchers Club (BBC) will leave for Taiwan on an eight-day study trip starting today (Monday), BBC Chairman Tiong King Sing said.

-- Kulim (M) Bhd (KULM.KL: Quote, Profile, Research, Stock Buzz) will be looking at plantation REITs (real estate investment trusts) and a separate listing for its plantation unit as part of its effort to unlock the value of the group's diversified portfolio, Managing Director Ahamad Mohamad said.

-- Salcon Engineering Bhd (SLCN.KL: Quote, Profile, Research, Stock Buzz) hopes to secure its first job in India next year, said Director and Chief Executive Officer How See Hock.

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

-- Seventy-three civil servants have applied for permission to do part-time jobs or run a petty trade as of July 30, a month after the government opened the door for them to supplement their income in view of the rising cost of living.

-- Human Resources Minister S. Subramaniam has instructed the Social Security Organisation (Socso) to relax the rules on the payment of benefits for workers who sustain injuries in accidents while travelling to and from their workplace.

BUSINESS TIMES

-- The Ascott Group, the hospitality arm of CapitaLand Ltd, may float its assets in Malaysia into Ascott Residence Trust, a real estate investment trust (REIT) listed in Singapore, Ascott International Management (2001) Pte Ltd senior Vice President (operations) Alfred Ong said.

THE EDGE FINANCIAL DAILY (www.theedgedaily.com)

-- Bursa Malaysia Bhd (BMYS.KL: Quote, Profile, Research, Stock Buzz) is developing a regulatory framework aimed at attracting global market makers, particularly for its newly-launched US dollar-denominated crude palm oil futures, its head of global markets Raghbir Singh Bhart said.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- The High Court recently ruled that the application of the Al-Bai' Bithaman Ajil, a hugely popular Islamic home loan financing contract in Malaysia for the last two decades but much criticised abroad, is contrary to the Islamic Banking Act 1983.

THE SUN (www.sun2surf.com)

-- Gerakan has the right to question, evaluate and assess its role in the Barisan Nasional (National Front) ruling coalition, said party acting President Koh Tsu Koon.  Continued...