MALAYSIAN NEWSPAPER HIGHLIGHTS - OCT 27, 2010.

KUALA LUMPUR, Oct 27 Asia Pulse - Highlights of today's newspapers:

BUSINESS TIMES:

- Bank Negara Malaysia is not concerned about rising household debt as the level of bad loans is still low and there are various ways to keep it in check.

- Analysts think it is unlikely that Bursa Malaysia Bhd (1818) will contemplate a merger and acquisition (M&A) exercise any time soon, but agree that the stock exchange could ramp up efforts to form alliances with other stock exchanges in Southeast Asia and in North Asia.

- The task force on Islamic finance and global financial stability has proposed the setting up of an Islamic Financial Stability Forum (IFSF) as a cross-border dialogue platform for regulators to promote financial stability in the sector.

- Times Avenue, a RM160 million office and retail project on Jalan Imbi, Kuala Lumpur, has been 70 per cent sold, one month ahead of its launch in November.

- The Maldives, which is set to open its first Islamic bank in January 2011 with the help of a Malaysian institute, aims for the bank to capture up to a fourth of the banking market there in three to five years.

THE STAR:

- The Cabinet is set to give its green light to build the country's first nuclear power plant by 2021 as stipulated in the recently unveiled Economic Transformation Programme (ETP), but the choice of location remains a secret.

- YTL Communications Sdn Bhd (YTL Comms), which is gearing up for the launch of its 4G mobile Internet services next month, is expected to unveil its own mobile phones soon.

- Petronas Chemicals Group Bhd, the petrochemicals unit of Petronas Nasional Bhd (Petronas), aims to raise between US$3.7bil and US$4.2bil in Malaysia's biggest initial public offering (IPO), two people familiar with the matter said.

- Cagamas Bhd, the national mortgage corporation, will look at issuing up to RM2bil in new Islamic medium term notes, said chief executive officer Steven Choy.

- MTD Capital Bhd told Bursa Malaysia yesterday that the Philippine Supreme Court has declared as valid and constitutional the supplemental toll operation agreement for MTD's South Luzon Toll Expressway project.

ASIA PULSE bl 27-10 1248