Malaysian stocks tumbled the most in a decade today with government-linked companies hardest hit after the weekend’s political upsets.
At 2:58pm, trading was stopped for an hour as the Kuala Lumpur Composite Index (KLCI) fell 130.01 points to 1,166.32, from the previous day’s closing level 1,296.33 - about 10.03 percent.
Trading resumed at 3:58pm, and the stock market recovered slightly.
After it closed for the day at 5pm at 1,117.2, a drop of 123.11 or 9.5 percent.
This was the biggest one-day percentage loss in recent years. The turnover was valued at RM2.47 billion.
State-owned …

Over half of million people visited Malaysiakini on election night last Saturday as the results were announced.
The traffic was so high at 11pm, that the ‘Malaysiakini.com’ domain was blocked by the company in United States which hosts the website’s domain name.
“We were well prepared for the anticipated traffic despite that Malaysiakini was made free. We put in additional servers, stripped down our page to make it lighter and faster to download and we have six mirror sites …

A triumphant PKR leader Anwar Ibrahim described the victory of the opposition parties in five states and its breach of Barisan Nasional’s two-third majority in Parliament as “a defining moment” in the history of the nation and the opening of “a new chapter.”
“The people have voted decisively for a new era where the government must be truly inclusive and recognises that all Malaysians, regardless of race, culture or race are a nation of one,” he told a packed press conference at his residence in Segambut, Kuala Lumpur.
“The people have expressed …

These were the only words which Prime Minister Abdullah Ahmad Badawi could muster when quizzed on the ruling coalition’s shocking defeat in five states.
Abdullah was posed with the question during a press conference at the Putra World Trade Centre in Kuala Lumpur. He was accompanied by his wife Jeanne, deputy Najib Abdul Razak and other BN leaders.
The prime minister added that he will make a media statement after analysing the results in detail.
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Source: Malaysiakini

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Highly-confidential correspondence confirms that the Penang state government had asked the federal government to offer a RM1 billion project to Motorola in a desperate attempt to stop the American telecommunications giant from pulling out of the state.
If this wasn’t done, the Gerakan-led state government warned Prime Minister Abdullah Ahmad Badawi that its “catastrophic impact” would be “politically very detrimental” especially in the run-up to the general elections on March 8.
pak lah and koh tsu koon and motorola factoryThe three-page letter, signed by outgoing Penang chief minister Dr Koh Tsu Koon, …