Yes, I agree. The price is already moving out of this morning's little "flash-crash"
After seeing the SP drop and wading through some of the speculation and worries expressed here today, can I just make some key points:
The LYC review falls under the ambit of Minister Yeo Bee Ying. The Minister is a very impressive figure, a rising star - and a Cambridge University Scholar, with a Phd in Advanced Chemical Engineering, and an industry background in Schlumberger.
Yeo Bee Ying comes from the Democratic Action Party. DAP is generally meritocratic, pro-business, urban, and keen on the integrity of justice as a defence against political tyranny.
DAP is compared with Singapore's much admired ruling party, the PAP. Their political roots and core-vote are very similar.
Please note the terms of the LYC review are quite rational, and endorse a rational process. PM Mahatir has also shown clear commitment to a rational process.
In contrast Yeo's political junior, Fuziah Salleh, though well educated and far more worldly than she shows herself to be, must pander to a provincial, xenophobic and sectarian political base.
We're all familiar with disingenuously self-righteous game-players like Fuziah in western politics and "activism". Like most of them, she's after attention, and will make noise and drama for effect rather than enlightenment. Her actual agenda is covert, and I've no doubt entirely selfish.
So why would Fuziah, who is cunning and motivated selfishly, cast herself into the political wilderness over bogus "principle" at the very moment the doors to power are opening for her?
She wouldn't.
Fuziah's been given a role to play. She will no doubt use it to polish her bumpkin-greenie-pious image as she must. She will make emotive noises, and feign exadurated vigilance, BUT unless she wants to fall out with her own Government she will have to acquiesce to the rational process.
My main watch-point, is that politics, whatever mighty noises are made, invariably boils down to a scrap over money and privileges.
The Minister, who has Fuziah on the board as a useful chess piece, might also be aiming to negotiate a few concessions - extract further benefits from LYC - now that LYC is finally showing profit and promising a powerful future.
But fundamentally, Malaysia does not want to hurt this golden goose. Just like us share holders, they want to feast on LYC's golden eggs.
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(20min delay)