Exactly PU, Lynas have complied, and been approved under the existing laws of Malaysia, unless Anwar is planning a dictatorship he needs to review and change those laws, possibly thru parliament, before he can claim Lynas is operating out side the law.
Obvious one is to make a DEIA, now mandatory, retrospective to Lynas but he'd probably catch other businesses in that at the same time.
Only guessing but I imagine if it were specific to Lynas they would have some redress to international courts. Aside from which the message to foreign investment would be horrific, particularly any Chinese businesses looking to set up in the new JV industrial park nearby. How many of them see Lynas RE as a draw card?
If you go right back you'll find Lynas listed one of the advantages of Malaysia was that their legal system was based on the English rule of law. Unless Anwar is going to try and overturn those fundamentals I can't see how he can pull his little stunt without much broader ramifications. Effectively he's saying he's going to toss aside the whole legal process, with all the scientific studies, and hand the decision back to the local villagers to say yes or no.
Maybe some of our legal eagle's here could express an opinion on that one?
In the meantime do any of our Malaysian contacts have good access to a solid journo? If so IMO the question to put to Anwar in the papers would be "As Lynas is currently operating within Malaysian law what do you propose to change to force them to stop and what other companies would it impact?". And perhaps "What other laws do you plan to change that would effect existing businesses?".
Not gospel, just a few thoughts.
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Open | High | Low | Value | Volume |
$9.50 | $9.96 | $9.38 | $153.8M | 15.88M |
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No. | Vol. | Price($) |
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2 | 914 | $9.67 |
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Price($) | Vol. | No. |
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$9.68 | 12000 | 2 |
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No. | Vol. | Price($) |
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2 | 914 | 9.670 |
1 | 4942 | 9.630 |
2 | 4000 | 9.610 |
1 | 5000 | 9.580 |
1 | 524 | 9.530 |
Price($) | Vol. | No. |
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9.680 | 12000 | 2 |
9.690 | 5598 | 2 |
9.700 | 1500 | 1 |
9.740 | 200 | 1 |
9.750 | 4857 | 5 |
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