Keeping Benchmark Rate Constant

The president of the Malaysian Indian Congress (MIC), S. Samy Vellu, is expected to step down as party president in mid-2010. The MIC is a member of the ruling Barisan Nasional (BN) coalition which represents the interests of ethnic Indians in the country. Vellu's deputy, G. Palanivel, is expected to take over as acting president. Vellu's official departure is likely to take place during the MIC's 64th general assembly meeting in 2010. We believe the retirement of the unpopular leader is a necessary move to restore support among ethnic Indian voters.

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