MALAYSIA: Copy - High Court Denies Anwar's Bid To Determine PM's Immunity

Jun-04 08:33

In a major setback for Prime Minister Anwar Ibrahim, the High Court dismissed his attempt to refer eight questions about his ongoing legal case to the Federal Court, including the unprecedented queries whether the head of government enjoys immunity from lawsuits and whether the lawsuit in question would destabilise the 'core institution of government'. Anwar's legal team is expected to appeal the decision before the start of the trial on June 16.

  • Anwar is battling a lawsuit filed by his former research assistant Muhammed Yusoff Rawther over alleged sexual assault committed in 2018, just before Anwar won the Port Dickson by-election.
  • Anwar's former assistant is currently on remand after being slapped with charges of drug trafficking and possession of firearms but has consistently denied these allegations and claimed that he has been framed by powerful enemies.
  • Yusoff was charged as a result of an anonymous tip-off, leading to the discovery of cannabis and fake pistols in his car. The prosecution has closed his case and the High Court set June 12 as a date for deciding whether to put him on trial.
  • Circling back to Anwar's petition, the High Court ruled that 'from a judicial perspective, the proposed questions do not appear to meet the threshold of genuine constitutional controversy.'
  • Malaysian lawyer groups have warned that allowing immunity for the Prime Minister would establish a dangerous precedent and undermine the rule of law.
  • Anwar served prison sentences between 1998-2004 and 2015-2018 after being convicted for corruption and sodomy in what he claimed were politically motivated and orchestrated by his political rivals.

Historical bullets

EGB OPTIONS: Large Bund Condor

May-05 08:25

RXM5 132.00/133.50/135.00/136.50c condor, sold at 24.5 in 10k.

JPY: Testing high against the EUR and the Pound

May-05 08:22
  • Worth keeping an eye on the Yen (nothing fast nor big), testing session high against the Pound and the EUR.
  • The Dollar and the AUD are still lagging, but price action should still be somewhat limited with the Focus on the Fed this Week.
  • Small support in USDJPY is seen towards 143.73 (Friday's low) initially, but did trade as low as 142.88 last Thursday.

FOREX: FX OPTION EXPIRY

May-05 08:14

Of note:

EURUSD 1.72b at 1.1300 (could act as magnet).

EURGBP ~1bn at 0.8525.

USDCAD 2.66bn at 1.3865/1.3870 (a bit far).

USDCNY 1.51bn at 7.3000 (tue).

EURUSD 3bn at 1.1390/1.1400 (thu).

USDJPY 1.4bn at 143.00 (thu).

EURUSD 1.3bn at 1.1300 (fri).

USDJPY 1.8bn at 145.00 (fri).

  • EURUSD: 1.1285 (1.13bn), 1.1300 (1.72bn).
  • EURGBP: 0.8525 (900mln).
  • USDJPY: 144.00 (335mln).
  • USDCAD: 1.3865 (1.02bn), 1.3870 (1.64bn).
  • AUDUSD: 0.6500 (489mln).