Day 10: Malaysia on Headlines (Sept 16)

No names, no list, no crossovers
By : NST NEWSDESK (Updated: 3:40pm)

PETALING JAYA, TUES:

THE SEPT 16 deadline to effect a takeover of the Government as repeatedly announced by PKR de facto leader Datuk Seri Anwar Ibrahim failed to materialise at 2.30pm this afternoon as anticipated.

At a press conference at the Parti Keadilan Rakyat headquarters in Merchant Square in Petaling Jaya, Anwar declined to name the MPs whom he claimed to have crossed over for fear that they would be harassed.

Anwar, however, insisted that he had the numbers to form the majority to take over from the current Government, although he refused to reveal the number of MPs crossing over.

He added that he had sought a meeting with the prime minister to inform the latter about the list but has not yet received a reply.

"I will show the PM the list when he meets me," Anwar said.



Political, global tensions drag down stock mart
extracted from: (http://www.btimes.com.my/Current_News/BTIMES/Tuesday/Frontpage/markety-2.xml/Article/)

Most investors are taking money off the table, not willing to take a chance in the Malaysian stock market until they can see some form of solid catalyst or lead, says a research head

THE stock market closed lower in dismal trade yesterday amid heightened political tensions and concerns about the global economy following a shake-up on Wall Street.

This lack of investor interest is likely to continue over the short term, analysts and fund managers said, spawning concern that the Kuala Lumpur Composite Index (KLCI) could soon fall below the psychologically important 1,000-point mark.

The KLCI, which closed 12.4 points or 1.2 per cent lower to 1,031.63 yesterday, has not breached the 1,000-point level since November 2006.

Yesterday was also the KLCI's lowest close since November 2006.

"Given the uncertainties at home and abroad, most investors are taking money off the table, not willing to take a chance in the stock market until they can see some form of solid catalyst or lead," said Vincent Khoo, head of research at Aseambankers.

A mere 306.9 million shares valued at RM682.2 million were traded yesterday. Only 12 stocks on the KLCI rose.

Khoo said a big part of the market's listlessness was due to investors being jittery a day ahead of a September 16 target set by Datuk Seri Anwar Ibrahim, former deputy prime minister and de facto opposition leader, to wrest control from the government.

The arrest of three individuals under the Internal Security Act last weekend, one of whom has since been released, also served to heighten political tensions, dealers said.

Regional markets, however, also closed lower yesterday, with Hong Kong on public holiday and news of the fall of two major financial institutions in the US, Lehman Brothers and Merrill Lynch, hurting sentiment.

Indonesia was the worst hit market in Asia, falling 4.7 per cent to 1719.25 points, while Singapore slid 3.27 per cent to 2486.55.

Financial markets in Japan, South Korea and China were also closed yesterday for a public holiday and will re-open today