I refer to the article in New Straits Times on April 11 that HSBC Research Fixed Income Research Unit in its report dismissed speculation of re-pegging of the ringgit as "off base and nonsensical" and called it "irresponsible". The headline says, 'Ringgit is not over valued'.

What I am curious about is that the article only stated one source, HSBC Research. For a credible claim, the writer should have looked for other supportive comments from other research houses as well.

Furthermore, the comments by HSBC Research sounded even more 'hardline supporter of the ringgit peg' than those of Finance Minister Daim Zainuddin, Prime Minister Dr Mahathir Mohamad, Bank Negara governor Zeti Akhtar Aziz and International Trade and Industry Minister Rafidah Aziz, that it really makes you wonder.