Resourced
1. I agree with you on what Nick said about the elections. I was also on the call and it was plain as day to me that Nick was avoiding comment on the issue of TOL and the elections. I wish it weren't so, but that doesn't change the facts.
As a company director he is on the hook for any false or deceptive conduct, so is trying to protect his skin as much as possible by avoiding comment, as any opinion he offers publicly is discoverable.
However...
2. I just also want to note that I DISAGREE with you on the TOL being pushed out until after the election. I know that Deutsche and some Malaysian politicians have explicitly linked TOL issuance to the election, but I have not yet seen evidence that it will occur, particularly when there is so much speculation over the election date.
I personally think the AELB will take another ~1 month or so to conclude on LYC's submission, and in the interim the debate will have been starved of oxygen for long enough (will be 8 months). Just my opinion, DYOR. If anyone has any EVIDENCE to the contrary then please detail it.
Regards and enjoy your weekends
Jaydog
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