Roubini: Fully Nationalizing Citi and Bank of America Would Be Better

One thing for sure, right now we facing for the worst what will happen next week ? Dow Jones Industrial Average (DJIA) is getting weaker and weaker. On Friday's trading the DJIA create new lows again. This time around we might be seeing huge potential for the DJIA to breaks the 7,000 points level.

With the share market heading lower again and the DJIA hitting yet another new low in 11-years, it's hard to believe stocks will ever be a good investment. What we are looking for at these moments is not for long terms investment but rather just a short terms play only.

It is not worth it to buy and hold as the current major financial crisis still going on and the financial crisis is not only happen in the U.S. but rather in the whole world as well.

Lately we can see that more bad news is coming out each week and there is no sign for recovery until now. Only yesterday the U.S goverment help a little bu announcing that they will increase their efforts to help out two of biggest bank in the state but their effort still not good enough. Here are some of the comments from Nouriel Roubini, the economist professor.

(Quote from Yahoo Finance - Click here to watch the video) Friday's announcement the U.S. government will convert up to USD 25 billion of its Citigroup preferred stock into common equity represents Uncle Sam's third direct attempt to rescue the floundering bank.

The conversion would give the government up to 36% control of Citigroup stock and leave existing common shareholders with as little as 26% of the company's common stock. That explains why the stock tumbled 39% to USD 1.50 Friday despite CEO Vikram Pandit's strange declaration: "In many ways for those people who have a concern about nationalization, this announcement should put those concerns to rest."

Pandit's claim is "like saying you're half-pregnant," says Nouriel Roubini and economics professor at NYU's Stern School and chairman of RGE Monitor. "The government has already taken over the financial system," Roubini says, noting U.S. policymakers have committed USD 9 trillion to rescue the financial system and already spent USD 2 trillion. "So let's stop the delusion about 'no nationalization.'"

Roubini, who has publicly advocated for temporary nationalization of insolvent banks, says fully nationalizing Citigroup and/or Bank of America would have a minimal effect on the Dow, which is a price-weighted average. More importantly, he believes full nationalizations (vs. the current partial, piecemeal effort) would be better for the market and the economy because it's the first step in the process of cleaning up "bad" banks so they can later be sold back to private investors, i.e. "re-privatized", as was the case last year with IndyMac.

Was The Financial Crisis Predicted ?

No one could have predicted the current economic crisis with any accuracy or authority. The whole thing has surprised the finest minds in mathematical modeling and finance-as-physics.

Writing in the Financial Times John Kay has helpfully explained that when we consider markets ‘we may be able to say a lot about their general properties while being unable to make specific predictions’. That’s because markets are so dynamic and non-linear and all. You know, that thing with the butterfly and the hurricane.

It’s all very well to carp now, and complain about the excesses of the last decade or three, but it’s better, more mature, more sophisticated, to recognise that what’s done is done, shrug, and move on. After all there is work to be done, and there are belts to be tightened. Someone has to pay for these bailouts.

The trouble is that this is all bullshit. There were plenty of warnings that the build-up of debt was unsustainable. To take only one example, Peter Warburton published a book called Debt and Delusion in 1999. In it he warned that low interest rates and the central banks’ narrow focus on inflation would lead to havoc in the debt markets.

Credit quality was already declining by the late nineties as lenders started to treat all borrowers alike. The normal caution of bankers was allayed by the magic of securitization and the willingness of the banks to lend was matched by the readiness of those on low and middle incomes to borrow.

This growing indifference to risk would inevitably end in disaster, Warburton warned; ‘the credit and capital markets have grown too rapidly, with too little accountability. Prepare for an explosion that will rock the western financial system to its foundations’. He called, among other things, for much tighter regulation of the derivatives markets and the removal of limited liability from speculative enterprises, to inhibit the reckless use of debt.

Warburton was far from alone in warning of the dangers of credit expansion. There was a small band of liberal journalists in Britain that registered the risks that the British and the Americans were taking and remained loyal to social democracy and common sense. Kay’s point about specific predictions has some merit but is somewhat beside the point.

The fire safety officer who tells you your house is a fire trap is trying to prevent a fire. If the place is still standing a week or a year after the warning it might still be a good idea to clear out the piles of paraffin soaked newspaper that block the exits.

As the credit bubble grew ever larger, and the danger it posed to the global economy grew ever more serious, the financiers, politicians and pundits spent many happy days hooting at the hapless officials who wanted them to take sensible precautions. Now they are trying to convince us that no one could have known that the house was in danger of burning down, and can they have their matches back?

The crisis was widely predicted by clear-headed and coherent experts. The people who could have averted disaster were too stupid, too venal or too wedded to the thrill of being in with the in-crowd to listen and take the necessary steps.

Don’t forget that.

Genting Share Price Attractive ? Potential To Hit RM 3.00 ?

This morning the share market movement can be consider very quiet with nothing for us to comments or to write about. I have been thinking whether the effect of this financial crisis will drag on until end of the year ? If we want to take this and consider the ongoing current financial news, the crisis will drag on until next year.

Many of us like the other financial bloggers are expecting that the current situation in the KL Composite Index will not hold very long. Some of us are expecting the KL Composite Index will breaks the 800 points level and is going for about 550 - 650 level.

Taken this into consideration, the Malaysian share market still have more rooms to go down further with some of the blue chips counter will see some bargain hunting in their prices. This only will happen if the KL Composite Index breaks the 800 points level but currently the index is still holding quite well.

Genting Berhad share price is deteriorating. This counter has been experiencing some selling activity lately. It had recently broken it previous low recorded last year at RM 3.58. Compare to its high of about RM 8.50 until now, it is quite an attractive prices but if the KL Composite Index have the potential go even lower, I would not be surprised if Genting share price breaks the RM 3.00 level.

KL Composite Index Movement Not Genuine.

A check again on the movement of the KL Composite Index suggests that the index is now moving away to avoid breaking the supporting channel. With the regional market not performing well, I was wondering why our share market behaved differently.

It should not have happen in the first place where by the KL Composite Index being push in the last minutes. With the regional market still going down and the KL Composite Index still hanging around that level, it would be very impossible for the Malaysian share market to pull some attention as the share prices still not attractive enough at this moment.

DJIA is creating new low but Malaysian share market is moving against the trend. If the Malaysian share market still reacts unnaturally with the fund manager from the government agencies pushing up the index to stay higher, it would create a time bomb to explode.

Basically I don’t like the way the KL Composite Index movement because it is not genuine. This is what we call the lousy Malaysian share market. The Government agencies should have leave it alone and let the Malaysian share market move naturally.

If the share prices still stay unattractive at this moment, people are not going to buy any of the shares because it is not attractive enough although some of the share prices look cheap but not cheap enough. In order for the share market to have a significant move or a genuine trend, the share market needs to behave according to the world financial market movement.

Malaysia Stimulus Seen Too Little, Too Late

Malaysia's attempts to boost its faltering economy will likely fail as the drag of falling demand for its main exports of electronics, commodities and oil is too large for any domestic expansion programme to offset.

The government is to introduce a second spending package in March but with a change of leadership looming, the focus is likely to be on preserving jobs in industries that compete on low labour costs rather than restructuring the economy.

While many countries in Asia have acted decisively to staunch the decline in economic activity, unveiling economic stimulus of up to 12 percent of gross domestic product (GDP), Malaysia has lagged, spending just $2 billion in its first economic boost.

"I do not think we should expect much out of this (second) package," said Mohamed Ariff, executive director of the Malaysian Institute of Economic Research (MIER), an influential think-tank. The government has not signaled how big the second package will be, saying only it will be larger than the first, but analysts predict it will be worth around 7 billion-10 billion ringgit ($1.92 billion-$2.74 billion).

"It is a drop in the bucket, less than 2 percent of GDP (gross domestic product) which pales in comparison with what Singapore is talking about," Ariff said. Asia's economies were initially thought to have escaped from the contagion caused by the U.S. financial crisis but the slump in global demand has caused exports to fall off a cliff.

In Malaysia where exports are equivalent to 100 percent of GDP, sales overseas slumped by 14.9 percent year-on-year in December. Electronics, which account for close on 40 percent of total exports, fell to just 17 billion ringgit, down from a peak of 24.78 billion ringgit in September. While Malaysia, a country of 27 million people unveiled a timid $2 billion package in November worth just over 1 percent of GDP, to boost the economy, neighbouring Singapore by contrast raided its trove of savings accumulated during the boom since 1998 and spent $13.7 billion to boost domestic demand.

That it can do so reflects the fact that it saved through the good years. In 2007, Singapore ran a budget surplus 12.2 percent of GDP and it was in surplus to the tune of 9.5 percent of GDP in 2008, according to estimates from Deutsche Bank.

Malaysia by contrast spent its way through the boom years for exports, commodities and crude oil and racked up a deficit of 3.3 percent of GDP in 2007 and likely overshot its planned 3.1 percent budget deficit target for 2008 with 4.8 percent of GDP.

That means that its credit rating may be in danger if it boosts spending by too much. Fitch Ratings cut Malaysia's A-plus local currency outlook to negative in February and warned that the government was over dependent on oil revenues which account for 40 percent of budget revenue, according to the agency. Although Malaysia has locked in revenues from high oil prices for the 2009 budget, the drop in crude prices to less than $35 a barrel from over $148 at their peak will make the 2010 budget harder to draw up.

SLOW TO IMPLEMENT AND POLITICS

As well as being late to apply the spending stimulus needed to rescue Malaysia from what could be its first recession in eight years, the money has not been spent fast enough. Of the $2 billion already pledged to revive the economy, 70 percent is still sitting with ministries saddled down with bureaucracy rather than being spent, according to government ministers and industry.

"The second stimulus has to cut through present weaknesses in delivery systems, it has to cut through the usual procedural delays, and it all has to happen by June if we are hope for a cushion," Razali Ibrahim, a lawmaker from the National Front ruling coalition, told Reuters.

There are also concerns that political changes are influencing the announcement of the second fiscal package. Deputy Prime Minister Najib Razak, who is also the finance minister, will take over the country's top job but not until after polls in the United Malays National Organisation (UMNO), the main coalition party, in late March.

Although Najib will stand unopposed there are big battles for the deputy presidency of UMNO which could distract the government from implementing the needed budget boost.

Najib will then need to win a key parliamentary by-election in April. So far, Najib has taken charge of and lost two by-election campaigns, one of which saw opposition leader Anwar Ibrahim return to parliament for the first time in 10 years after a bar on holding office following the expiry of a jail term. Najib is seen a more decisive leader than Prime Minister Abdullah Ahmad Badawi and skilfully engineered the takeover of an opposition controlled state this month.

But he is less popular among the electorate than the incumbent which means he will likely focus on populist policies, such as job saving, in the second stimulus rather than on the fundamental issue of pushing the economy into higher-valued products and services. "The worst of the economic slowdown will only hit ordinary Malaysians well after Najib has taken over as prime minister, so he has no choice but to prepare now to mitigate the possible political impact that will arise," said political analyst Shamsul Amri Baharuddin.

Article From Reuters

Dow Jones Still Unstable. Stay At The Sideline.

U.S. stocks are likely to face choppy waters this week, as the debate about whether or not to nationalize banks intensifies along with growing investor demand to rid the financial system of its toxic assets.

U.S. Financial instrument are facing the worst scenario right now. This few days will be crucial weeks for DJIA to see whether they can sustain around 7,500 points level. Eventhough the DJIA already breaks their current low recorded last year (7,449.38 point), a gap of about 300 to 500 point from its previous low will confirm its downtrend towards 6,000 points.

No doubt the KL Composite Index still manage to hold onto their current level, yet it is too risky to buy any of the shares at this moment. With most of world financial index still moving down, staying at the sidelines will be the best option to approach.

Elizabeth Wong Photo Nude Take A New Level Between A Blogger And Google Management.

Two days ago I was mentioning in my article (click here) the blog that review Elizabeth Wong photos was block by the Google management. This morning I have received from someone in my comments (the author) that the blog has changed its name and switch to other website.

When I was reading the author comments why his blog was blocked I was surprised to find out that he claming that the blog of his was blocked by someone with a very good linked to google management.

It seems that these incidents (Elizabeth Wong scandals) are not involved in Malaysia only, it has went to a new level. A level of war between the google management and the author of the blog. Very interesting.

Here are some of his comments :

Thursday, February 19, 2009

Malaysia, Censorship And Google

Seem like Blogger/Google has blocked people from entering thegutterpost.blogspot.com site, if you try to visit the site you see a message stating "This blog is in violation of Blogger's Terms of Service and is open to authors only."

Elizabeth Wong seems to have friends at Google. Just a day or two after the photos taken by her boyfriend and sent to several newspapers in Malaysia was leaked by someone and then posted on the blog. The blog was rank the top 35 website visited by Malaysian by Alexa.com so it is no surprise they would want to censored it.

Why would Google restrict a blog for posting pictures of a politician posing with her legs open for her boyfriend? The pictures were taken by her boyfriend and allegedly send to newspapers by him.

And then it was leaked onto the Internet and MMS by somebody. The blog is not based in Malaysia, the authors are not in Malaysia, No one in Malaysia is forced to visit it, so Google should not give to pressure from the political elite in Malaysia.

I know what this is about. It is about MONEY. The politician in Malaysia can probably hurt Google's money, hey I have no problem with that. But it would be nice it Google just say it, send me an email stating that I am hurting there money. Google is fully in there right to do anything with Blogger, just be honest about it. Tell me to fuck off because I am hurting your money in Malaysia.

Again the author posted another article mentions that The Gutter Blog Will Live ON...... This time he mention that certain people in Malaysian are unhappy with seeing one of their politicians spreading her legs in his blog.

Thursday, February 19, 2009

The Gutter Blog Will Live On

The Gutterpost Blog was fully backed up! All Posts Were Saved! Tell your friends that the site will always be available at http://http://www.gutteruncensored.com/. Now, we just have to find a save and reliable place to host the website. Respect for Google/Blogger is lost.

Look at the Alexa.com rank of the blog, a top 35 ranking among web users in Malaysia. That is right, the blog is the 35 most visited site by Malaysian. The people want to see what the politician and elites are hiding. The blog was in compliance with American law, so a few Malaysian politicians and wealthy elites cannot killed it.

Google/Blogger know the authors of the blog are not based in Malaysia, they know the blog is not in Malaysia. So it should not be censored because certain people in Malaysian are unhappy with seeing one of their politicians spreading her legs for her boyfriend. The pictures were allegedly taken by her boyfriend who we can assume had permission to be in the room with her.

So if he betrayed her by leaking their intimate pictures to local newspaper, it is his fault and her fault for trusting him in the first place. Gutterpost DID NOT SNEAK INTO HER BEDROOM AND TAKE HER PICTURES, she allow some asshole into her bedroom and her screwed her over. He had her permission to be there so those who say this is a privacy issue are dimwits.

Go after the right people, leave the Gutterpost alone. Many people had the pictures before it was sent to the Gutterpost. Many many people in Malaysia had the intimate pictures of Elizabeth Wong before they sent it in to the Gutterpost, the blog was only among the first to post it because the blog is not based in Malaysia. Anyway, the blog will be fully restore!

Dow Jones Industrial Average Won't Hold Longer At 7,450 Point

A check on these few days trading suggest that the KL Composite Index is still moving sideway. Not much different and there is nothing for us to write or comments about the Malaysian share market at this moment. Everyone are eyeing how the Dow Jones Industrial Average will behave these few days.

As I have mention earlier, next week would be the weeks that we need to monitor whether the KL Composite Index might follow the previous trend - 1997 Asian Financial Crisis chart. According to the calculations it would happen sometime in between end of February or beginning of March. Moving slowly to the south.

This is just a prediction or an assumption only. We need to have this kind of data to guide us whether it is a right time for us to go in. We are not fund managers. We are just a small investor looking for a better life ahead of us.

Dow Jones still trade within their range at their most strongest supporting level of 7,449.38 point which must not be break or else it might turn very ugly. But with all the bad data still pouring out, it would be very impossible for the Dow Jones to stay around that level. Well as I have mention earlier, this year of 2009 will be rules by The Bears.

PKR Elizabeth Wong. Photo Of Her Sleeping Semi Naked, Out In Internet.

Yesterday while I was searching an article to dig out the latest news about Hilmi Malek, I was surprised to find out YB. Elizabeth Wong photos sleeping semi naked.

The picture was not clear enough but it did show that YB. Elizabeth Wong sleeping in a position with her two legs spread wide open. The problem with this picture is seeing her private parts but not clear enough whether she is wearing something or not.

This morning I went through again to the website again to check whether there is still any latest photo of her that might come out but the website has been banned.

The service blog provider stated : "This blog is under review due to possible Blogger Terms of Service violations and is open to authors only".

There are also a few website posted the picture of her sleeping with her leg wide open. I won't mention which website because certain of this website are phonographic website. Today one of the Chinese Newspaper mentions that YB. Elizabeth Wong and her former ex-boyfriend, Hilmi Malex have a relationship break-up sometimes in October 2008. They already started their relationship long before the 12th General Election last year.

Hilmi Malex, 32, was a well good looking guy. He likes to wear tight t-shirt where mostly most of girls like to look at with all the muscles. Even his father also admits that Hilmi ex-girlfriend was YB. Elizabeth Wong. Maybe their relationship has turned sour and things cannot be rescue anymore.

Several comments from most of the bloggers posted in nationwide blogs suggest that YB Elizabeth Wong should continue with her work and not to resign as she can really perform her duty. If we want to argue about this matters, how about Datuk Seri Chua Soi Lek ?

Datuk Seri Chua Soi Lek can be consider one of the most potential leader when he become a Health Minister. He is a hard working minister during that time and travel to many places where by most of the former Health Minister never been there before. But because of a scandal in politics, he has to resign and become a normal citizen only.

Elizabeth Wong Photo And Video (NUDE) Confirm Ex-Boyfriend Malay

Malaysiakini - It is confirm that YB Elizabeth Wong ex-boyfriend is a Malay. I'm not against it. I really support what ever she did. She has the rights to protect her privacy but once we involved in the politics, certain things we need to understand when we become a public figure.

His name was Hilmi Malek, 32. It has been confirm by YB. Elizabeth Wong when she pen down her new article (GE12) THANK YOU !!!!!! in her special blog. Her ex-boyfriend name was Hilmi Malek, 32. Quite a good looking guy.

If you are still looking for the picture (semi nude), I suggest you all look at this website Elizabeth Wong Photos. At least some of the picture is coming out already but not clear enough. Today a newspaper also mention that the police is looking for Hilmi, who has been reported travel to Indonesia but everything still under investigation.

A Bukit Aman task force, assigned to probe the case, is expected to interview several people, including a Parti Keadilan Rakyat member in his 30s (Hilmi Malex) said to be Wong’s former boyfriend, to identify the perpetrators behind the recording of the images.

Hilmi Malek, a former PKR divisional secretary and now an ordinary member, is a personal assistant to a PKR Member of Parliament. Elizabeth Wong ex-boy friend, as we read from the Press, was said to be a former aide to PJ Selatan MP, YB Hee Loy Sian.

Now Where's Hilmi ?
By Yushaimi Yahaya & Frankie D' Cruz February 18, 2009. The Malay Mail

Categories: NewsPolice are looking for Hilmi Malek, 32, for questioning in connection with the Elizabeth Wong nude photograph imbroglio. Hilmi, a Parti Keadilan Rakyat member and one-time divisional secretary, is said to be Wong’s ex-boyfriend.

He has gone missing from work as personal assistant to Petaling Jaya Selatan Member of Parliament Hee Loy Sian since Saturday. Unconfirmed reports said Hilmi, who began work for Hee last April, is abroad. Attempts by Malay Mail to contact him since Saturday have been futile.

It is learnt that Hilmi’s colleagues were aware of his relationship with the Bukit Lanjan assemblyman and State executive councillor for tourism, consumer affairs and environment. Wong, 37, told Malay Mail editors last Friday that they had split recently and she had not been seeing anyone since the break-up.

Petaling Jaya police have so far taken statements from Malay Mail and theSun editors to help track the perpetrators behind the recording of the images. Malay Mail editors had handed over two images of Wong to the police on Monday night.

One was of her sleeping on the sofa of her Bukit Gasing home and the other was taken at an angle that showed her private parts.

In the meeting with Malay Mail editors last Friday, Wong had maintained that these pictures were taken without her consent and that the identity of the photographer was unknown.

Wong, who had expressed her shock when informed of the pictures, had said that it was an intrusion of her privacy. She lodged a report with Damansara police on Sunday and gave her statement to the police yesterday. She did this after offering to resign from all posts. However, PKR has rejected her resignation and asked her to take a break.

DOW JONES In A Critical Points.

This early morning the Dow Jones Industrial Average (DJIA) fared badly. The index was down -297.81 points to close at 7,552.60 points.

A check on the data suggests that if the Dow Jones breaks the 8,000 points level then it might turn up ugly. With the low recorded this early morning at 7,551.01 points, the DJIA is entering the critical points.

Please refer to the previous article come out on Thursday, January 15, 2009 Dow Jones Technical Speaking - 8,000 Support Must Hold.

The different from the close yesterday compare to the low created on 21.11.2008 at 7,449.38 is just about 100 points. It would be very crucial day for the DJIA tonight. If the index breaks the new low, we might be seeing the second wave or the second round of selling and this might be very bad with DJIA eyeing the 6,000 points level.

PKR Elizabeth Wong. Photo Video (NUDE) Boyfriend A Malay ? Malaysiakini

I was just wondering why YB. Elizabeth Wong would want to quit all her position. She has done nothing wrong. It is just that her photo being circulate around and it didn't means that she need to quit. Outside rumours also mention that there is a video coming out too.

Now the latest rumour was, Elizabeth Wong former boyfriend was a Malay ? How true is this story ? People especially who are surfing the Internet are keep on searching the story of Elizabeth Wong by typing the word " PKR, Nude Photo or Video, MMS, Exco of Elizabeth Wong " hoping that they can see the actual picture of her. But there isn't any photo or a video can be found at this moment.

Now most of the latest search engine shows that they are looking for " Elizabeth Wong Boyfriend A Malay ". I think this might be the leading point why she wants to quit all her post. In Malaysia, a Chinese guy with a Malay woman or a Chinese woman with a Malay guy is common. But as a Yang Berhormat, it would be a different story.

During the photo and the video of her was taken, Elizabeth Wong is still unmarried. Now people are asking how come she can sleep with the other guy and then become Yang Berhormat when she is still single (moral) ?

Former Selangor Menteri Besar YB Mohamad Khir Toyo said "She is a single person. How can she allow a man into her room when they are not married? What's the status of the relationship?"

Even there is a rumour saying that some of the photo showing her sleeping with her leg open. This is very bad if these pictures really come out. I think it will come out soon. If we look at the press conference held by Elizabeth Wong, Wong did not blame the governing National Front coalition directly for her embarrassment, but leaders in her party charged it was politically motivated.

What ever it is, police investigation is on the way. We will know the truth eventually whether is a politically motivated or a sour relationship between her and her former boyfriend. The main issue here is why her former boyfriend wants to distribute photograph of her sleeping in semi naked ? WHY .......? WHY ..........? I think we must ask our former YB. Elizabeth Wong. She should know the answer.

You can refer this article below whether is a politically motivated ?

Monday, February 16, 2009
PKR Elizabeth Wong. Photo And Video (NUDE) Circulating. Malaysiakini

PKR Elizabeth Wong Photo and Video Nude. Offer Resignation

Selangor executive councillor YB. Elizabeth Wong has offer her resignation from her state cabinet post and state assembly seat following her nude photographs controversy. She make the announcement at a press conference at 11am held at the Parti Keadilan Rakyat headquarters in Tropicana. There will be another by-election going to be held in these few months.

She is still single. At the moment her age now is 37. It was reported yesterday that nude photographs of former YB. Elizabeth Wong, who is Parti Keadilan Rakyat wanita publicity chief, were being distributed in public. It is believed that the photographs were taken - most likely by a former boyfriend while she was sleeping.

While she also mentioning that the photograph of her was taken without her consent but the truth is that if the ex-boyfriend of her took the photograph of her, she will knew it in the first place. Why she allow him to keep it until now or she having a relationship problem with her former boyfriend ?

A rumour come out today that the incident was cause by the sour relationship between Elizabeth Wong and her former boyfriend. The rumour also stated that the first part of her video are circulating around and second part is on the way out ? Wahhhhhhh.... how true are these rumours ? If only the nude photo circulate around then it won't harm former YB Elizabeth Wong.

But if there is a video circulating around then the image of this girl will turn ugly. The rumours also stated this incident have nothing to do with any political matters. It turn out to be a problem of her with her former boyfriend. Wait and find out after the police investigation.

PKR Elizabeth Wong. Photo And Video (NUDE) Circulating. Malaysiakini

During the political tension happen in Perak state, I was told by a few members of mine that there is some political movement going to happens in Selangor. There might be another jump over or crossing over. But it will only happen by the end of this year. Probably during the 4th quarter. At first I didn't believe it because it was just a rumours only but lately it seems that something really happen in the Selangor state.

1) The political matters take a turn today when Selangor state assemblyperson YB. Elizabeth Wong, 37, (Bukit Lanjan) claims to be a victim when her photographs and video clips featuring her in the nude where circulating around.

The distribution of the photos and videos shows that Elizabeth Wong asleep in partial nudity and also in intimate positions which have been circulating via MMS. The photos were also made available to several publications, including the Malay Mail and The Sun.

Elizabeth Wong, a former human rights activist turned politician, is also Wanita Parti Keadilan Rakyat information chief. In the Pakatan Rakyat-led Selangor government, she is the exco in charge of tourism, environment and consumer affairs.

2) Lately there were some rumours about Parti Keadilan Rakyat political person, the Pelabuhan Klang state assemblyperson is going for a defection. The Pelabuhan Klang assemblyman YB. Badrul Hisham Abdullah, who was allegedly missing in action after some news portal reported that YB. Badrul Hisham had gone missing due to problems with his family after his wife caught him in close proximity with another woman.

3) In this coming March 09, the Pandamaran state assemblyperson YB. Ronnie Liu (DAP) will be attending a court hearing after being charged. He is believed to have been arrested for obstructing MPSJ officials from carrying out their duties during an anti-vice raid on a hotel in Puchong in November 2007. It was believed that the hotel is operating a prostitution business.

He was arrested again on Nov last year, 2008, after the case has been put on hold for a year since Nov 2007 and was told he will be charged in the court. His arrest was made by the reports lodged by the Subang Jaya Municipal Council's (MPSJ) enforcement unit and police. YB Ronnie Liu, the state Local Government, Research and Development Committee chairman of the Selangor state governments.

Now we can see that there is something going on in the political situation in the state governments of Selangor. Whether all these rumours will be true or not (changing of Selangor state governments) ? We will have to wait until end of this year.

" SELANGOR BOLEH "

ELIZABETH WONG'S STATEMENT IN FULL

I was informed on Friday, Feb 13, 2009 by journalists from The Malay Mail that they have in their possession intimate photos of myself and that the newspaper will be publishing a story about these photographs.

I was told that some people are trying to distribute photos/ videos showing me asleep in partial nudity and also in intimate positions. The distribution and publication of these photos/ video is a malicious attack on my personality.

This constitutes a gross outrage on my modesty, a gross invasion of my privacy, and in particular the sanctity of my personal life. It is being done by unscrupulous persons to embarrass and discredit me?I am a victim in this incident.

I have yesterday lodged a police report in relation to this matter and I will fully cooperate with the police in their investigation. I will therefore not speculate publicly about those responsible for this gross invasion of my privacy.

I have received a lot of support from my supporters, friends, colleagues and members of my constituency. I wish to thank them for their concern, support and encouragement. My family members are standing behind me.

I would like to appeal to the media to give me and my family members some breathing space in this trying time so that I can weather this huge challenge. I will in the meantime continue to carry out my task of serving the people of Selangor faithfully.

Elizabeth Wong

Bukit Lanjan Assemblyperson

Exco for Tourism, Environment and Consumer Affairs

KNM GROUP BERHAD. Financial Results Very BAD ?

Friday huge surge on the index caught me by surprised but it was a good sign for the local market. Basically I don't have the instinct to buy any of the shares at the moment. "Patience" was my key word. I will wait when the time has arrive.

At the moment I will keep on updating the KL Composite Index data and some of our regional share market data. With the KL Composite Index Friday surprised move, we might have a short terms move because there are so many counters still in a consolidation mood.

However a closer look towards the world financial news and the performance of the Dow Jones Industrial Average (DJIA) would still be our top priority. At the moment the DJIA is still below the 8,000 points and today the Wall Street's market is closing for a holiday.

Lately there were some rumours surrounding the KNM Group Berhad. Many analyst, bloggers and financial bloggers are mentioning that there would be some bad announcement come out by the end of this month. Whether these reports will bring any significant impacts on KNM Group Berhad, we will know it later by next week when they reports their financial results.

Based on the charts wise, KNM is moving sideway and if any of the announcement about their financial reports come out with a flying cards then this counter will fly up to the sky. Please refer to Malaysian-Finance Blogspot, one of the best financial bloggers that I have ever known - SELLING KNM FOR NOW (click to read)

Don't Be RUDE, Says The Sultan of Selangor.

KLANG, Feb 13 (Bernama) -- The Sultan of Selangor, Sultan Sharafuddin Idris Shah Alhaj is deeply saddened and disappointed over the disputes relating to the recent appointment of the new Perak state government to the extent of displaying rudeness to the Sultan of Perak, Sultan Azlan Shah.

"Political developments, instances of street demonstrations and disputes between various parties, relating to the recent appointment of the new Perak state government, to the extent of displaying rudeness to the Sultan of Perak, Sultan Azlan Shah, have saddened and disappointed me.

"He said this in a special press statement entitled "Affirmation Regarding the Political Turmoil in Perak Darul Ridzuan", which was released from Istana Alam Shah, here. (For Bahasa Malaysia version - Click - Jangan Biadap, Titah Sultan Selangor)

In a three-page statement, the Sultan of Selangor advised the people who challenged the rights, role and position of the Rulers, which were enshrined in the Federal Constitution, to think carefully and evaluate deeply the consequences before taking any action.

"I hereby wish to advise with the utmost sincerity by taking into consideration the future of the religion, Malaysian nation and our beloved country. Please do not be misled by actions and behaviours that will only disgrace our integrity, invite high risks to our process of progress, and eradicate the foundations of national sovereignty through the display of rudeness, treachery, arrogance, ignorance in knowledge and lust for power," the Sultan said.

Sultan Sharafuddin said the fact that the Sultan of Perak was his uncle and that both Royal families of the two states had a long-standing historical relationship added to his sadness and disappointment. He said he knew Sultan Azlan as a very knowledgeable person with vast experience in the legal service and judiciary, appropriate with his former position as the Lord President.

Sultan Azlan and his Royal family also had distinguished educational credentials and qualifications and were always sensitive to the needs of the people to the extent that most of his actions were based on a knowledge of culture, holistic considerations and principle of consensus with experts on the relevant issues, Sultan Sharafuddin said.

"What we have seen and (are) still seeing for the past week in Perak has prompted concern among those who care so much for their religion, race, country, stability, wellbeing, civilisation, security and our future together," he said. "In light of this occurrence, we now know which is glass, which is diamond. In fact, we could now understand the truth inside those people who 'burn the net out of anger with the mosquito'," he said.

Sultan Azlan appointed Datuk Dr Zambry Abdul Kadir as the new Perak Menteri Besar on Feb 6 when the coalition government comprising the DAP, Parti Keadilan Rakyat and PAS lost the majority in the State Legislative Assembly, and this had caused dissatisfaction among the leaders and supporters of the coalition.

As a result, supporters of the coalition held street demonstrations near Istana Iskandariah, Bukit Chandan, Kuala Kangsar to the extent of obstructing the car of the Raja Muda of Perak, Raja Dr Nazrin Shah. In addition, former Perak menteri besar Datuk Seri Mohammad Nizar Jamaluddin was reported to have disagreed with the Sultan of Perak when his request for the dissolution of the State Legislative Assembly did not get the Royal consent while DAP chairman Karpal Singh had incurred the anger of many people following his intention to sue Sultan Azlan Shah on the matter.

Sultan Selangor said the increasingly worrying situation at the global and regional levels warranted the people to strengthen unity despite their differing viewpoints. "There are times when we can retract statements that were wrongly said, but these are precarious times where wrongful action can lead to disastrous consequences.

"I pray to Allah the Almighty to place us in his loving care, and continue to shower us with a clear heart, peaceful soul, wiser thoughts, easier path, the right actions, harmonious relationship and strong self-belief to manage the country togehter in facing future progress of our nation," the Sultan of Selangor said.-- BERNAMA

KL Composite Index. Potential To Stay Above 900 Points ?

An updated chart for the KL Composite Index until 12.02.2009. The KL Composite still trade within the zone of the Rising Wedge. A closer look at the chart suggest that the KL Composite Index might have the potential to climb above 900 point level.

Provide that the world financial market still able to sustain at their current level. Today we might have seen some speculation activities in Malaysian equity market with Gamuda Berhad and Muhibah Engineering Berhad are moving strongly.

At this moment, the share market still can be consider volatile. Sometimes up or sometimes down with no major leading indicators to support the market especially the volume traded. It is just like we are putting our money on the table and waiting for the dices to roll before we know whether we are winning or we are losing.

Bursa Malaysia Exchange. Stay Out For A While.

Today is 12th February 2009, about 7 trading days to go until end of next week before we can have a look whether the share market will sustain at this level. Volume trade is still low.

In fact there is nothing for us to comments on the KL Composite Index at this moment. Basically the share market is still sitting on a comfortable zone with everyone still watching how the world financial market will behave especially the Dow Jones Industrial Average (DJIA).

Last few days I did wrote an article about the projections where our KL Composite is heading to ? To be frank, in order for this scenario to happen, (KL Composite Index to go down to 600 points level) the world share market need to tumble again especially the DJIA.

If we want to base on this kind of prediction (DJIA to tumbles) then it will be very bad for the world financial market.

According to the chart calculation and prediction, basically the down trend will only start in between end of February or early in the March. But we cannot assume that this thing will happen in the first place. It is just a prediction only.

This is for my own guidance only. Maybe it will not happen at all but as a chartists, I will assume this will be a good indications for us in order to guide us and decide whether time has arrive for the share market to move up or the share market will move down. Still we need to stay alert on the world financial news. But my previous article about the Beware Of BEARISH RISING WEDGE suggests that it might happen in the first place.

Hannah Yeoh - A Mockery Of Our Democratic Institution. Malaysiakini

Lately the lovely famous Hannah Yeoh Tseow Suan (DAP Candidate for N.31 Subang Jaya) have posted an article inside her blog title A Mockery Of Our Democratic Institution. After I read about it, I think I need to answer few of her question that she has posted.

I like her very much because she really can do her work and moreover she is the only YB that look beautiful, charm and nice but in politic some times we need to argue a bit.

My answer to her question is in BROWN colour.

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To those who argue that the political crisis in Perak now is a taste of Pakatan’s own medicine (referring to the Sept 16 takeover plan) have failed to see the key differences between the two.

Jackie Lee : What’s the different. A Cross Over is the same as Jump Over (Frog) or Hopping.

If you remember what happened when Dato’ Seri Anwar Ibrahim claimed to have the numbers to form the new federal government, he wrote to PM Datuk Seri Abdullah Ahmad Badawi requesting him to convene an emergency sitting of Parliament. This was rejected by the PM.

Jackie Lee : Dato' Seri Anwar claimed to have MP's to Jump Over to form the new federal government. That is the correct sentence. Why PM want to convene an emergency sitting of Parliament, you think that there would be more than 30 MP's to jump over. Ridiculous.

The next constitutional option is to press for the dissolution of Parliament to make way for fresh new elections. That was also not entertained.

Jackie Lee : Why must be entertain ? The new government only form a few months only. It is impossible for a government with just a few months only have to listen to Datuk Seri Anwar.

Anwar Ibrahim exhausted the constitutional means that were available to him. If Pakatan were to act unconstitutionally and lure defections, then we will be having a new government today. But we didn’t and we will not act unconstitutionally. So you can’t say that Najib’s coup and Pakatan’s plan were one and the same.

Jackie Lee : It is not that the Pakatan Rakyat don’t want to act unconstitutionally. It is because for more than 30 MP’s to Cross Over is a very large number and no one dares to cross over. It means that Pakatan Rakyat don’t have the numbers - 30 MP’s to cross over.

What Anwar should have done is wait for a regular sitting of Parliament and then propose a motion for a vote of "no confidence" in the government. If he has the numbers, the no confidence motion will carry and it will then be up to the King to decide whether to call for a new general election or to invite Anwar to form a new federal government. (taken from one your comments)

Some may also say, well what about the earlier defection of Bota assemblyman, Datuk Nasarudin Hashim? Why did Pakatan Rakyat accept him? Why not force his seat to be vacated for a by-election?

Let’s keep things in perspective here. His defection was that of an opposition lawmaker to a governing lawmaker. His defection did not alter the balance of power in the State Assembly. Pakatan Rakyat remained as government, and BN as opposition. Status quo.

Jackie Lee : Please be materialized and realized that his defection still was a jump over or a cross over. And it didn’t make any different. The whole Malaysian people now are arguing about Cross Over or Jump Over. It is not about who is to remained as the government.

Logically and intelligently, anyone can safely assume that Pakatan Rakyat didn’t need a defection from BN. Thus, he defected on his own accord and on his own will. There was no need for Pakatan Rakyat to force him to vacate his seat as he did not win the seat on a Pakatan ticket. The Pakatan government really has no standing in forcing him to vacate a seat which wasn’t earned by Pakatan in the first place!

Jackie Lee : Talking about defection, I think the whole Malaysian still can remember the SEPT 16. If I was not wrong, that time the whole country feel the pressure during the Sept 16 including me, during that time we all believe that BN will go down and Anwar is on the way to Putrajaya. Everyone are talking about it even in Mamak Shop. But when Sept 16 arrived... oh.. I was wrong and on Sept 24, oh.. wrong again and then somewhere in Oct, again everything was wrong and wrong again ............

I must say that I had great respect for Sultan Azlan Shah. Until yesterday. I wonder how he could possibly consent to the formation of a new BN state government when, constitutionally, a government is still in place. And to even approve to a new Menteri Besar when the existing one is still in office?

Jackie Lee : According to the Perak State Constitution. Article XVIII (2)(b) and Article XVI(6), the Sultan already mention that he made the decision according to the articles and hence after meeting with the 31 assemblyperson and they told the sultan that they are giving their support to BN. So if we in that position what would we do ? Refer to the article inside the Perak State Constitution.

How can any state have two heads of government at any one time? There can only be one Menteri Besar of Perak. This is a mockery. The Menteri Besar can only be removed by the State Assembly via a vote of no-confidence or via the dissolution of the assembly. And none of these two constitutional means has been requested by BN. How can anyone claim that Najib and Anwar are one and the same?

Jackie Lee : How can any state have two heads of government at any one time ? MMMmmmmm ....... Because the other one still think he is the elected Menteri Besar.......... and still want to stay inside the offical Menteri Besar residence...... you all know lah....very BIG BANGLO ...... where to find for free stay..... F O C .....

Next, the Sultan called for a “unity” government to be formed by BN and the Independents. Let’s be clear about this. The Independents are in no way legally bound to represent BN. Well, at least not yet, not till they officially become members of a BN component party.

Jackie Lee : The Independents are in no way legally bound to represent BN ? If no legally bound, charge the Barisan Nasional in the courts and see whether it is valid or invalid ?

All that the Sultan and Najib has from them is a verbal assurance that “we will be friendly to BN”. And just by appearing in a press conference with Najib, it justifies the change of government? What if, next week, these Independents were to be seen in a press conference with Pakatan?

Jackie Lee : What if, next week, these Independents were to be seen in a press conference with Pakatan? Then the Pakatan can become state governments. Ha...ha....ha.... Simple mathematics.

A real “unity” government envisioned by the Sultan should have been an all-inclusive government of Pakatan, BN, and the Independents. Pakatan and BN each have 28 seats, and the Independents, three. Thus, no single party or coalition has a commanding majority. If there is to be a “unity” government, it calls for a new coalition of PR-BN-Ind, which is impossible.

Thus, what the Sultan has called for is simply a name without substance. What “unity” is there if it’s going to consist of only single-minded representatives – all “friendly to BN”? That’s not a “unity” government, it’s a BN government. This is a mockery of the intelligence of Malaysians. This is a beginning of what is to come with this PM-to-be.

Jackie Lee : This is not about single-minded representatives or all friendly to BN. It is just that a loss is a loss. When we lose our majority, we have to accept the facts that this is all about politics. The Pakatan has done all the barking where else the Sultan and Datuk Seri Najib until now just keep quiet.

Attention Everyone : SHE HAS MARRIED.

Dow Jones Industrial Average Breaks 8,000 Points On High Volume.

Early in the morning the Dow Jones Industrial Average was down -381.99 points to close at 7,888.88 points. A break of more than 100 points from the strong supporting level of 8,000 points. Nevertheless we still need to monitor tonight how the DJIA will fare ? It will be a crucial decision. Turnover was recorded at 8,091,152,500.

If the DJIA manage to climb back to 8,000 point than the story will be different. First hurdle of 7,796.17 point recorded on 02.02.2009 is the first level that the DJIA shouldn't break or else it will turn ugly and if the DJIA breaks that level, the next target will be the previous low 7,449.38 points recorded on 21.11.2008.

Yesterday investors dumped stocks after Treasury Secretary Geithner failed to deliver the specifics that investors sought from Treasury's financial rescue plan. During his speech, the DJIA started to tumble and move all the way down with a minus about -200 points. When his speech ended the index took another round of selling to fall more than -300 points before consolidate for a while and move down further another -400 points towards the closing.

Usually the U.S. market always reacted negatively when ever any of their financial guy given a speech about their financial system. It didn't happen once but it always happens every time. But with this huge falls, I don't think it will have a very big impact towards the Malaysian share market because our market already use to it already.

Beware Of The Bearish Rising Wedge ?

Last Friday, the KL Composite Index did very well. Closing with a gain of +16.69 points to close at 896.64 points. With this huge gains the KL Composite Index has clear further away from the critical point of breaking the current uptrend line.

On the surface, the KL Composite Index's rally off its Oct 24 2008 low appears to have been quite strong. But its technical underpinnings are disturbingly weak. In fact, according to the charts reading, a technical approach was used and become concerned regarding an incipient wedge formation in the daily chart of the KL Composite Index.

And as any technical analyst will tell you, a RISING WEDGE is BEARISH. A Continuation Wedge (Bearish) is considered a bearish signal, indicating that the current downtrend may continue. A Continuation Wedge (Bearish) consists of two converging trend lines.

The trend lines are slanted upward. Unlike the Triangles where the apex is pointed to the right, the apex of this pattern is slanted upwards at an angle.

This is because prices edge steadily higher in a converging pattern (i.e. there are higher highs and higher lows). A bearish signal occurs when prices break below the lower trendline. Over the weeks or months that this pattern forms the trend appears upwards but the long-term range is still downward.

Although the formation of Rising Wedge is in the proses, still the KL Composite Index might have a possibility for a short term move. We cannot consider the index is in a bearish territory at this moment, it is just that we need to beware about this formation. Whether this formation would suggest my previous articles (Where Would The World Financial Crisis Heading To ?), we still need to monitor the reaction of the world financial market.

Pakatan Rakyat In Perak Barking Like A Dog - Malaysiakini

Today we are facing a political situation where by there are now two Menteri Besar in the state of Perak. Basically I don't really understand why these whole situations have to happen in the first place. We all know politic is a dirty game. But who ever have a majority seats, they should be allow to administer the state governments.

Why the Pakatan Rakyat want to create this whole mess. If they want to become Perak state government they should be careful in the first place when they just won with a smaller majority during 12th General Election. Why this whole thing have to happen in expense of the rakyat (people).

We all know Pakatan Rakyat Perak state government is doing well but now they cannot do anything because they have to understand that they don't have enough seats to govern the state. We must understand that in this world of political play, if any of the party don't have enough majority seats, it is impossible for them to become an administer in their country or state.

Datuk Seri Nizar refused to resign when asked to do so by the Sultan, sparking the state's biggest ever political crisis. At the moment he is still fighting for his rights. If we look back at the articles used by Sultan of Perak, it seems that the Sultan has used it in the right way. (Please refer the articles here).

If Datuk Seri Nizar still insists that he is doing the right things that mean he is guilty of treason. A treason against the Sultan of Perak and against the Article XVIII (2)(b) and Article XVI(6). So now who is the person that we should argue is right or wrong ? The Sultan of Perak, the Assemblyperson, Pakatan Rakyat, Barisan Nasional, Datuk Seri Najib or Datuk Seri Anwar ?

I'm not going to argue who is right or who wrong but one thing for sure, I still can remember when the BOTA assemblyman cross over to Pakatan Rakyat, most of the Pakatan leaders in Perak and Datuk Seri Anwar issue a statement that there would be more Barisan Nasional assemblypersons are going to cross over to Pakatan Rakyat but it turn out to be the other way round.

Why people in the Perak state can accept when the Barisan Nasional assemblyperson cross over to Pakatan Rakyat and now they can't accept that when the Pakatan Rakyat assemblypersons are crossing over to become an independent and supported Barisan Nasional ? Why do all the BARKING all over the country in the first place and now can't even get their assemblyperson right to stay on course with Pakatan Rakyat ?

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Article XVIII (2)(b) of the Perak Darul Ridzuan State Constitution :

“If the Mentri Besar ceases to command the confidence of the majority of the members of the Legislative Assembly, then, unless at his request His Royal Highness dissolves the Legislative Assembly, he shall tender the resignation of the Executive Council”.

The Article XVI (6) of the Perak Darul Ridzuan State Constitution :

The power to determine and act based on own discretion and evaluation.

Articles Used By The Sultan Of Perak Was RIGHT AND LEGAL ! - Malaysiakini

The following is the media statement issued by the office of Duli Yang Maha Mulia Paduka Sultan of Perak, Sultan Azlan Shah, which was signed by the ruler's private secretary, Col. Datuk Abd Rahim Mohamad Nor.

OFFICE OF DYMM PADUKA SERI SULTAN PERAK DARUL RIDZUAN

SULTAN STATEMENT 1

"Yang Amat Berhormat Datuk Seri Ir. Mohammad Nizar Jamaluddin was granted an audience by Duli Yang Maha Mulia Paduka Sultan of Perak Darul Ridzuan on February 4, to ask for his Royal Highness's consent to dissolve the Perak State Assembly.

Yang Amat Berhormat Datuk Seri Mohd Najib Razak, Deputy Prime Minister of Malaysia, also requested for an audience with his Royal Highness in his capacity as the Perak Barisan Nasional chairman and consent was granted to be present before his Royal Highness on February 5.

Yang Amat Berhormat Datuk Seri Mohd Najib informed that the Barisan Nasional and its supporters, now comprising 31 state assemblymen, had the majority in the State Assembly. On the order of the Duli Yang Maha Mulia to ascertain that the information given was accurate, all the 31 state assemblyman were to present themselves before Paduka Seri Sultan.

SULTAN-STATEMENT 2 (LAST) IPOH

After meeting all the 31 assemblymen, DYMM Paduka Seri Sultan of Perak was convinced that YAB Datuk Seri Ir. Mohammad Nizar Jamaluddin had ceased to command the confidence of the majority of the State Assembly members.

DYMM Paduka Seri Sultan of Perak had also considered thoroughly YAB Datuk Seri Ir. Mohammad Nizar Jamaluddin's application on February 4, 2009 for his Royal Highness's consent to dissolve the Perak State Assembly.

His Royal Highness had used his discretion under Article XVIII (2)(b) of the Perak Darul Ridzuan State Constitution and did not consent to the dissolution of the Perak State Assembly.

YAB Datuk Seri Ir. Mohammad Nizar Jamaluddin was summoned to an audience with the Sultan to be informed of his Royal Highness's decision not to dissolve the State Assembly, and in accordance with the provisions of Article XVI(6) of the Perak Darul Ridzuan State Constitution, DYMM Paduka Seri Sultan of Perak ordered YAB Datuk Seri Ir. Mohammad Nizar Jamaluddin to resign from his post as Perak Menteri Besar together with the members of the state executive council with immediate effect.

If YAB Datuk Seri Ir. Mohammad Nizar Jamaluddin does not resign from his post as Perak Menteri Besar together with the state executive council members, then the posts of Menteri Besar and state executive councillors are regarded as vacant. This statement is issued with the consent of Duli Yang Maha Mulia Paduka Seri Sultan of Perak Darul Ridzuan."

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Below are the reference stated in the articles.

ARTICLES USED BY THE SULTAN OF PERAK

Article XVI (6) of the Perak Darul Ridzuan State Constitution :

“If the Mentri Besar ceases to command the confidence of the majority of the members of the Legislative Assembly, then, unless at his request His Royal Highness dissolves the Legislative Assembly, he shall tender the resignation of the Executive Council”.

- we can break the article into 3 parts :

i) If the Mentri Besar ceases to command the confidence of the majority of DUN members - please note that there is no mention on how or the exact proceeding to be mandatorily used in determining the matter.

ii) MB shall (”hendaklah”) tender resignations of all exco members including himself as the Chief exco - “shall” here means it is mandatory to be done with no exception.

iii) The middle part of the article - unless at his request His Royal Highness dissolves the Legislative Assembly - means there is provision or exception, but, with conditions in this article, that allows the MB to request for a dissolution of the Legislative Assembly when he ceases to command the confidence of the majority, but, with the Sultan’s consent. There is no further allocation that said the Sultan is obligated to accept the MB’s request.

Article XVIII (2)(b) of the Perak Darul Ridzuan State Constitution :

The power to determine and act based on own discretion and evaluation.

The Sultan of Perak used this article to ensure that his action was according to his existing jurisdiction and had used his discretion to not to consent the dissolution of the state assembly. This was stated and implemented and it showed that the Sultan is not merely a puppet to the state government. And it really showed that the monarchy system still works! God bless Malaysia!

Source for this link : Articels Used By The Sultan Of Perak