I find the malaysiakini story rather incredulous:
"PM to declare no contest for Umno top 2"
By preventing suitable candidates from challenging for posts, UMNO becomes a party that is feudalistic and not a democratic party.
If the PM makes an announcement of his retirement plan, he becomes a "lame duck" PM and would not be inclined to implement the urgent reforms that are necessary for Malaysia to get out of the downward spiral.
Now if he declares an emergency and takes action to fulfill all the promises he made to Malaysians for the first time he won the elections as the PM, I am sure most Malaysians will be prepared to support him for another 2 years of tough reforms.
Already PKR is planning their "no confidence" motion. UMNO does not have the luxury of 2 more years of "same old" and a snap election appears possible.
I don't think Malaysians will support the notion of emergency rule if it is just to keep the BN in power.