Malaysia tak boleh lagi?

 Malysia political arena is in a mass right now.

The present unity government is a coalition of convenience since no one alliance managed a majority share to form a government. The Agong at the time (presently Selangor Sultan) appointed Pakatan Harapan (PH) to form the government who netted in the ouster Barisan Nasional (BN), Gabungan Parti Sarawak (GPS) and Gabungan Rakyat Sabah (GRS) as well as some smaller parties.

On the opposition end is Perikatan Nasional (PN) comprises Parti Islam Se-Malaysia (PAS) Parti Pribumi Berrsatu Malaysia (Bersatu) and Gerakan Rakyat Malaysia (Gerakan).

While PH is the leader of the ruling alliance, Anwar Ibrahim is seemingly being grabbed by the balls by Barisan Nasional who supposed to be a smaller component, acted like it is still the boss. PH's component Democratic Action Party (DAP) who gained the majority Chinese support, is quiet like a puppy whenever Chinse interest is being violated.

In In order to strengthen the support from the Malay community, PH under the leadership of Anwar Ibrahim pend towards Malay conservatism to fight against PN. For some reason, Anwar become the spoke man for Gaza against Israel aggression, sanctioning his countrymen to violate Israel's sovereigns through the Gaza flotillas, critical on US-Israel invasion and killing the leaders of Iran, ignoring the fact that these leaders killed 10s of thousands of their countrymen who happened to be Muslim themselves. Apparently, he is fine when killing is done by Muslim. 

Locally, he maintains 90% of higher education position to be allocated to Malay, who only comprises of 70% of the population, while the other 30% needs to fight for the remaining 10%. By doing so, he deprives higher education opportunity for ethnic minority, causing a massive outflow of talents oversea. At the end, he said, "this is fair."

It is also under the governance of PH that compulsory Buni's equity capital to raise from 30% to 50%. companies acquiring above RM20 million properties or strategic assets from GLC and GLICs, as well as listed companies on Brusa Malaysia. This means that if any company wants to involve in government projection requires to give up 50% of their share, they no longer have any say on direction of the company. 

Non-Islamic religion lacks the privileges of Islam (Which is the national religion of Malaysia), and struggle to set up their places of worship. they tend to acquire spaces in commercial and industrial area.  Lately it is also revealed that the local government of Selangor is initiating a policy that forbid non-Islamic religious organizations from setting up their place of worship in commercial and industrial area, without any proposal for alternatives. Surprisingly, this happens under the government involving DAP, claiming that religious activities cause traffic congestion. 

The irony here is that right after this was revealed, another proposal of setting up a large prayer room at  Bukit Bintang the busiest and most congested commercial area. 

It is under the leadership of PH that all pig farms are removed from Selangor. It does not matter if the cost of pork is going up because pig farms are dirty. It is a different thing if it is a cattle, goat or chicken farm. Then it is found that the Rohingas who were received by the Malaysian government slaughtering up to 20 cattle in the back street of crowded shophouses where people reside, with blood and feces flowed into the drains risking contamination, it was overlooked because it was meant for religious purpose.

Government under PH leadership elevates the level of double standard suppressing the interest of minorities.

Lately, more surprises emerge. First, UMNO has decided to go on its own to compete in the local election of 56 seats in the state of Johore. I am not surprised with this move since it has been the top boss in this arena for decades and will not bow to PH permanently. It will definitely leave when there is an opportunity. This however infuriated PH who deemed the act as a form of betrayal and vow to punish UMNO by competing against UMNO not only in Johore, but also Negeri Sembilan, as if they are highly confident of the local support for them.

Rafizi, the 2nd in command of PKR component of PH resigned and left the party, joining and led another party Bersama to participate in the coming election. This marks a rift in the PKR leadership. 

 As it seems, all these seems to favor the opposition, as long as they maintain their position However, it reveals that Bersatu are not in good term with PAS. All the sudden, Hadi Awang, the serial traitor of PAS calling out Bersatu betrayal and there is a threat of te alliance breaking up. 

If all these come true, the future of Malaysia political arena is very vague. There is no one option that the voters can go for, because all of them rotten to the core.

Which is why this entry, because I am seeing something worrisome on Malaysia economy.

Fig 1. KLSE weekly chart

First of, KLSE hit its 100% projection resistance, bounded between 100 and 127% projection. It failed the reach higher high, restricted by its upper Bollinger envelop. It reversed with momentum thereafter., 

It has broken through the incremental trend line after a false break earlier. There is a potential double top formation.

At the same time, while on the decline, it has yet to reach the neckline. There might be a full back towards the trendline before continuation downward.  

Since there is a higher potential is down with a double top formation, I can first obtain the measurement for with support at between 1,552 to 1,595.

There are potential support while on the way down though, which is between 1,628 to 1,658, coinciding with its 55-week moving average presently at 1,657.

I end my entry today with an advice to the Malaysia ruling alliance: You better go for te election early. The later Malaysia go for election, the worse the market that they are facing, and there will be more unhappiness then with more finger pointing to PH.