No unity, no stability and no PM after Malaysia’s polls

Post-election hung parliament means whoever eventually leads next coalition government will be at perpetual risk of being toppled

Malaysia is in the grip of a political impasse after a general election on November 19 produced a hung parliament with no clear winning party or coalition. More than four days since polling day, prime ministerial contenders Muhyiddin Yassin and Anwar Ibrahim have struggled to substantiate their conflicting claims of majority support.

Opposition leader Anwar’s Pakatan Harapan (PH) won 81 seats at the polls, putting it ahead of Muhyiddin’s conservative Perikatan Nasional (PN) bloc’s 73 seats. The once-dominant Barisan Nasional (BN) delivered its worst-ever electoral performance, winning just 30 seats, but its lawmakers have now found themselves in the position of kingmakers.

What is clear is that an election called months ahead of schedule with the intent to stabilize the political landscape has done the opposite, putting the stability of the next government in question. The ringgit currency notably fell against the dollar and the Kuala Lumpur stock market weakened with the prospect of yet another wobbly government.

Coalition and party leaders have since Tuesday (November 22) come and gone from the Istana Negara, or national palace, for audiences with Malaysia’s constitutional monarch. Sultan Abdullah Sultan Ahmad Shah reportedly sought to broker a unity government with PH and PN, a request Muhyiddin claims he rebuffed because his coalition has always explicitly ruled out such cooperation.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

Muhyiddin looking like a comeback kid in Malaysia

Ex-premier’s Perikatan Nasional coalition outperformed election forecasts and is in pole position to form the next government

Former national leader Muhyiddin Yassin is seemingly poised to make a comeback as Malaysia’s tenth prime minister after cobbling together a post-election alliance a day after the November 19 polls resulted in a hung parliament with no party or coalition winning a majority.

It marks the first time in Malaysia’s history that a national election did not deliver a clear winner. The vote did, however, produce a clear loser: the Barisan Nasional (BN) alliance whose United Malays National Organization (UMNO) has been the nation’s dominant political force for over six decades.

BN’s Prime Minister Ismail Sabri Yaakob had sought to retake the government in Putrajaya, calling an election eight months earlier than required amid monsoon rains, only for the coalition to suffer the worst defeat in its political history, winning only 30 seats out of the 178 it contested. The polls, which saw a record turnout of 73%, mark the coalition’s second consecutive electoral defeat after initially losing power in a shock result in 2018.

Muhyiddin’s Perikatan Nasional (PN) secured a stronger-than-expected 73 seats while pledged support from regional parties in the Borneo states of Sabah and Sarawak, namely Gabungan Parti Sarawak (GPS) and Gabungan Rakyat Sabah (GRS), have boosted its coalition count. Post-election mixed messaging around BN’s support for a PN-led pact, however, has muddied the political waters.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

Malaysia’s snap election could break any number of ways

One-fifth of voters undecided ahead of Nov 19 contest forecasters expect to result in a hung parliament and heavy post-poll horse-trading

Never has the outcome of a Malaysian election arguably been so difficult to predict. That sentiment is one forecasters and analysts might share on the eve of the November 19 general election following a rousing two-week campaign period that has seen the race tighten considerably, putting hitherto perceived frontrunner Barisan Nasional (BN) in uncharted waters.

BN chairperson Ahmad Zahid Hamidi was unmistakably bullish on the coalition’s chances for victory when he pushed incumbent caretaker Prime Minister Ismail Sabri Yaakob to call snap polls last month despite warnings of heavy monsoon rain and flooding. The United Malays National Organization-led (UMNO) bloc now clearly finds itself on the defensive.

Coalitions led by former premier Muhyiddin Yassin and long-time opposition leader Anwar Ibrahim are seen to have gained momentum in recent days, strengthening perceptions that the highly competitive vote will result in a hung parliament with no single coalition expected to win a simple majority in the legislature needed to form a government.

Gone is the era when BN predictably won elections; the looming vote may only decide which coalition will be in the strongest negotiation position to lead the next administration. With a fifth of the 21.1 million electorate still projected as undecided and the crucial ethnic Malay vote split by political fragmentation, the jury is out on who will be Malaysia’s next prime minister.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

Will a dark horse become Malaysia’s next PM?

UMNO leader Zahid isn’t running for PM at Nov 19 election but that doesn’t mean the corruption-tainted politician won’t end up on top

Campaigning is heating up ahead of Malaysia’s November 19 general election in what is set to be a tight race, with incumbent Prime Minister Ismail Sabri Yaakob’s Barisan Nasional (BN) facing off against coalitions led by veteran opposition leader Anwar Ibrahim and ex-premier Muhyiddin Yassin as a wide array of smaller parties join the fray.

Fatigued by rising inflation and political instability, voters will decide the winners and losers from among a record 945 candidates vying for 222 parliamentary seats. Apart from BN, Anwar’s Pakatan Harapan (PH) and Muhyiddin’s Perikatan Nasional (PN) – the country’s three main national alliances – a coalition led by two-time former premier Mahathir Mohamad is also making its debut.

Over 210 multi-cornered contests are expected, a factor that could split votes more than in previous elections. Analysts say the polls could yield a hung parliament where no single party or coalition wins a simple majority, an outcome that could result in a scramble for power where opposing alliances come together in a coalition of convenience to form the next government.

“If there is no coalition with a clear workable majority, what would happen is that some of the most opportunistic and Machiavellian elements in Malaysian politics may emerge,” said political analyst Chandra Muzaffar. “You may have people who want to be in power because they’ve got personal agendas, including staying out of prison or making sure that the law does not apply to them.”

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

Malaysia mulls Anwar’s last chance to rule

Opposition icon says coming polls will be his last as new-generation leader Rafizi Ramli proving to be a worthy successor

Malaysia’s political reformers, now seemingly accustomed to defeat after losing power more than two years ago, are holding out hope for another surprise win when the country goes to the polls on November 19. While victory for the Pakatan Harapan (PH) opposition coalition is not inconceivable, it will certainly be a tall order.

Opposition leader Anwar Ibrahim, 75, has acknowledged the coming polls will be his last attempt at becoming prime minister, an office that has long eluded the leader of Malaysia’s “reformasi” movement. Anwar has hinted he will retire to allow a younger generation of leaders to sustain and lead his party’s struggle if he falls short at next month’s election.

Among them is a figure already seen as his potential successor: 45-year-old Rafizi Ramli, a former Petronas executive turned tech entrepreneur known for his sometimes testy ties with Anwar. He was elected as Parti Keadilan Rakyat’s (PKR) deputy president in May, comfortably beating out a loyalist candidate backed by Anwar, who retained the party presidency unopposed.

“Sometimes I don’t necessarily see eye-to-eye with Anwar,” said Rafizi, who spoke with Asia Times earlier this year. During an interview in June, Rafizi said that “political disillusionment” born of PH’s short-lived tenure in government and Anwar’s failed subsequent bids to return to power would be the opposition’s biggest electoral hurdle.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

Singapore dollar the world’s other safe haven

Singapore’s central bank tightens monetary policy in move expected to buoy one of Asia’s already best-performing currencies

In the latest salvo in its fight against inflation, Singapore’s central bank tightened monetary policy on Friday (October 14), allowing the national dollar to appreciate to curb domestic cost pressures in a move likely to bolster the currency’s increasingly favored status as it demonstrates resilience against the fast-appreciating US dollar.

The Monetary Authority of Singapore (MAS) said in a statement that it would raise the mid-point of the Singapore dollar policy band “up to its prevailing level,” a less aggressive move than some observers expected. Specifically, MAS refrained from adjustments to the slope or width of the currency band, both closely watched policy tools it could have used.

The MAS uses exchange rates, managed against a trade-weighted undisclosed basket of currencies from Singapore’s major trading partners, as its primary monetary policy tool to ease import costs, the main contributor to inflation in a city-state that imports almost everything it consumes, leaving domestic interest rates to shadow those of the US Federal Reserve.

“By not changing the slope of the band, [the MAS] took the calibrated approach of not allowing the pace of currency appreciation to quicken further. This is especially given the fact that the Singapore dollar is already one of the strongest performing currencies against the US dollar so far this year,” said Cheryl Chan, senior vice president for capital markets at digital securities exchange ADDX.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

Ismail floods Malaysia with cash then calls snap polls

Malaysian leader flip-flops his position by calling early elections just days after tabling nation’s biggest-ever ‘feel good’ budget

Malaysia is headed toward a controversial early general election at a time when parts of the nation are expected to face heavy flooding due to monsoon rains. Prime Minister Ismail Sabri Yaakob confirmed the dissolution of parliament in a televised address on Monday (October 10), paving the way for snap polls to be held within 60 days.

The announcement follows days of speculation that the legislature would be dissolved soon after the tabling of the biggest-ever Malaysian government budget worth 372.3 billion ringgit (US$80 billion) for 2023 on October 7. The record spending plan has not yet been passed, raising questions about the country’s fiscal roadmap in the event of a change in government.

Elections could have been held at the latest by September 2023, but Ismail has been under intense pressure from his United Malays National Organization (UMNO) to call an early vote to capitalize on recent state election victories by the ruling Barisan Nasional (BN) coalition and get ahead of economic headwinds that are expected to worsen next year and potentially hit UMNO and BN’s popularity.

The premier said that by dissolving parliament, the public will have a chance to cast off years of political uncertainty by voting in a new, more stable government. But by rushing to hold an election, Ismail is disregarding flood warnings from Malaysia’s Meteorological Department and advice from climate experts who recommend that polls should be held only after the monsoon season.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

Top lawyer who busted Najib faces vengeful legal fire

Ex-Attorney-General Tommy Thomas under investigation on PM Ismail’s orders for claims and allegations made in his best-selling memoir

Tommy Thomas, the lawyer who set in motion the landmark prosecution and ultimate imprisonment of an ex-prime minister for massive corruption, could be regarded as Malaysia’s most consequential attorney-general. But a new government probe into a book he published about his time as the nation’s top prosecutor is widely seen as a setback for good governance and the fight against graft.

Prime Minister Ismail Sabri Yaakob ordered an investigation into possible misconduct by Thomas, who served as attorney-general between 2018 and 2020, on September 30, instructing enforcement agencies to further probe various allegations made in his memoir, My Story: Justice In The Wilderness, which sparked a right-wing backlash after its publication last January.

More than 100 police reports were reportedly lodged after the book’s publication. The 500-plus-page memoir shed light on Thomas’ decisions that led to the charges leveled against ex-premier Najib Razak for his role in the multi-billion-dollar 1Malaysia Development Berhad (1MDB) scandal, among other high-profile cases.

The former private lawyer-turned-government top counsel and public prosecutor was questioned by police about the book, but the Attorney-General’s Chambers did not press charges, nor was the memoir banned. It has since become a national best-seller. But that didn’t stop Ismail from forming a special task force last December to investigate the book and its various revelations and allegations.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

The many ills plaguing Singapore’s chipmakers

Global headwinds, hiring woes and spiking energy prices are conspiring to stunt the city-state’s semiconductor aspirations

Robust demand for Singapore’s electronics and semiconductors during the pandemic fueled the city-state’s fastest economic expansion in over a decade and big-ticket investments in chip-making capacity. Now, the notoriously cyclical semiconductor industry is in the grip of a deepening downturn as geopolitical and inflationary headwinds buffet the global economy.

Chip makers in the island nation are increasingly concerned about the near-term possibility of a recession, with many feeling the sting of soaring electricity prices linked to energy market disruptions worsened by Russia’s war on Ukraine. Singapore-based semiconductor and related firms are also contending with a tight domestic labor market and regulations that have raised the cost of and otherwise discouraged hiring foreigners.

“What is happening with Ukraine, with the shutdowns in China…when the uncertainty of a possible recession is coming up, or even stagflation in some countries, there is a fear that consumer demand will start to drop. Of course, this will have a direct impact on chip demand,” said Ang Wee Seng, executive director of the Singapore Semiconductor Industry Association (SSIA).

Faltering global demand is already being acutely felt in Singapore, with manufacturing sector growth falling to an 11-month low in August. All sector segments saw a fall in output, led by a 19.3% slide in the production of modules and components. It marked the third straight month of contraction in semiconductor production; the broad electronics sector has shrunk for two consecutive months.

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.

UMNO split widens on ‘free Najib’ rally cry

Divisions inside Malaysia’s ruling party over ex-premier’s fate could hit a breaking point ahead of pivotal general elections

Former Malaysian prime minister Najib Razak’s jailing for corruption has accentuated a deepening divide inside the ruling United Malays National Organization (UMNO), one that threatens a party-splitting schism with new general elections on the horizon. One UMNO camp seeks to distance itself from the newly incarcerated but still influential ex-leader, while a rival faction embraces his “justice denied” narrative, a persecution theme analysts expect it to play up to win votes on the hustings.

Prime Minister Ismail Sabri Yaakob appears to prefer looking forward and forgoing the politics of grievance in favor of economic deliverables. The premier is expected to personally table what will be the country’s largest-ever national budget next month, which analysts say is likely to presage the dissolution of parliament and calling of early elections.

UMNO president Ahmad Zahid Hamidi, on the other hand, has made clear he is backing Najib to the hilt. Observers speculate that the party leader, who faces a possible corruption and money laundering conviction that could likewise send him to prison, intends to engineer Ismail’s removal after an expected election victory in his capacity as the Barisan Nasional (BN) governing coalition’s chairman.

“Zahid and Najib remain very influential within the UMNO party hierarchy,” said Francis Hutchinson of the Malaysia Studies Program at Singapore’s ISEAS-Yusof Ishak Institute. “The party machinery has publicly come out in favor of Zahid and Najib, and the ‘old guard’ is sending out the message that aspiring candidates for parliament need to toe the line if they want to be fielded.”

Read the full story at Asia Times.

Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.