I guess the issuance of TOL is not directly related to PSC but...

I guess the issuance of TOL is not directly related to PSC but to the timing of next election. This whole LYC saga has become so politicized in Malaysia and it could be the last straw to collapse the current gov's support. As such, if I am running the gov and decided to have the next election some time soon, I would definitely put TOL on hold. Either I win the next term then issue the TOL or it's the new gov's headache to deal with it. Of course if the election is still some time away, say in a few months. then next week could be it to announce the TOL as there are no apparent reasons to hold it up for such extended period.
This is a classic example of democracy in third world country like Malaysia. In such countries with a irrational uneducated general public, the majority of voters can be easily manipulated and misled by the "intelligent elite" politicians. In these countries common sense doesn't always prevail.