Kuala Lumpur: Anwar Ibrahim took over as the new Prime Minister of Malaysia. Anwar Ibrahim, who was the leader of the opposition for a long time, was appointed Prime Minister by the King of Malaysia. The decision comes at the end of five days of uncertainty after the election.
Neither party could win a majority in Saturday’s election. Neither Anwar Ibrahim nor the opposing candidate Muhyuddin Yass could get an absolute majority. Anwar Ibrahim’s Pakatan Harapan alliance won 82 seats in the 222-seat lower house. Former Prime Minister Muhyiddin Yasin’s Perikatan National Alliance won 73 seats. No one could reach the absolute majority of 112 seats to form the government.
Malaysia has been ruled by three Prime Ministers since the elections held four years ago. Ismail Sabri Yacob came to power last year after the failure of the Muhiuddin government in handling the Covid. Anwar Ibrahim has spent 10 years in prison on charges of homosexuality and corruption.
As the political crisis ended, the market rallied. The ringgit currency has reached its best level in two weeks. Equity rose 3 percent on the Kuala Lumpur Stock Exchange.
