@resourced What you say makes sense. On the other hand, Najib cannot risk to run LYC financially into the ground by delaying the TOL. Foreign investment would turn their backs on Malaysia. The opposition would blame the government for loss of foreign investment/jobs etc. Although LYC is unlikely to run out of money for TOL after the election, such a delay would for sure have impact on future investments. NC already pointed that out.
Najib sits between a rock and a hard place. The less risky choice is to issue the TOL ASAP. He's plenty of time to politicaly de-risk the TOL in the next few months. He has to get this political hot potatoe off the agenda as soon as possible.
LYC Price at posting:
83.5¢ Sentiment: LT Buy Disclosure: Held
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