We see the market will be pressured to move downward towards with immediate support at 1660 – 1680. We are not sure who is right and wrong. But after this video leaked, either one of them are not genuine.
We foresee a potential snap election for the nation, UMNO snap poll or even more people who have strongly supporting a potential scandal will be dragged out. Be it Najib is the person as mentioned or a conspiracy to take him out of office. There is no way to turn back.
We suggest not to buy into any 1MDB or related companies during the down time. It is good opportunity but you got to pick those not involved in the show. We maintain our top picks and bargain hunting if there is value emerge.
Beside of praying God please safe Malaysia. I think everyone in every angles must toe their line to help the nation. We can go through it thin and thick but the truth must be revealed for a better nation.
In our point of view, the cash flow problem is already a valid reason for PM Najib to resign. No company will ask a CEO stay that make such situation unless you are the owner itself. 1MDB is an asset of Malaysia not individual.