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KUALA LUMPUR, April 30 Asia Pulse - Highlights of today's newspapers:
THE STAR
- Malaysia International Shipping Corporation Bhd (MISC) has proposed to acquire American Eagle Tankers Inc Ltd, owner and operator of Aframax tankers, for US$445mil, under a plan to expand its petroleum-based transportation market.
- Asian stock markets rose yesterday, buoyed by the overnight rally on Wall Street on robust US company earnings and indications that the Severe Acute Respiratory Syndrome (SARS) outbreak may be easing.
- Select banking stocks with good asset quality and good dividend yield are expected to remain on investors' buying lists despite the current weak market conditions.
- Qualified holders of Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) can expect to receive another double-digit windfall, in view of its record pre-tax profit before zakat of RM333.3mil for the financial year ended Dec 31, 2002.
- The Kulim Hi-Tech Park (KHTP) in Kedah is now redirecting its ef-forts towards wooing small- and medium-scale industries (SMIs) instead of new multinational corporations in view of the current global economic slowdown.
Source: HighBeam Research, MALAYSIAN NEWSPAPER HIGHLIGHTS - APRIL 30, 2003.