Sabah Progressive Party (SAPP)- a small political party from Sabah- today announced that it would propose a no-confidence motion against Prime Minister Abdullah Ahmad Badawi, when Parliament resumes on Monday. If my memory served me correctly, the leaders of SAPP led a defection in 1994/95 which culminated to the collapse of the Parti Bersatu Sabah ['PBS'] State Government in Sabah. The leaders of SAPP (then, members of PBS) had opted out of PBS to form SAPP, which later joined Barisan Nasional. It will be a real irony if the present Federal Government under Barisan Nasional were to be toppled by its converted comrades, proving once again that there is no permanent enemy or friend when it comes to politic.
While this political maneuvering will certainly be a negative for the stock market, I believe that it will likely be a short-term affair. The market will likely to benefit from more certainties in our political sphere, and this will be forthcoming after the no-confidence motion- irrespective of whether the motion is carried or not. Meanwhile, we will have to wait & see how the motion is played out. This is indeed a very exciting time.
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