MALAYSIAN politics is set for a new twist again.
Barely two years after switching camps to win the elections in May 2018, Prime Minister Tun Dr Mahathir Mohamad is reportedly working with old allies to form a new government that will now exclude the man in place to be his successor.
Anwar Ibrahim forged an alliance with arch rival Mahathir to topple the party that had led the nation since its independence. Despite pledges to hand power to Anwar, the 94-year-old premier has repeatedly taken a stance to only step down after resolving problems inherited by the previous administration – in spite of Anwar’s “understanding” it should take place around May this year.
Mahathir shows no sign of handover of power, choice of successor
Now, Anwar says some members of his own party are working with Mahathir’s to shake up the ruling Pakatan Harapan or PH coalition, and had met with the country’s king on Sunday (Feb 23).
“Right now we are waiting for information,” Anwar said in response to a question at a Sunday event streamed on Facebook. “But we know there’s an attempt to topple PH to form a new government,” he added, pointing to “former friends” in Mahathir’s party and those who may have defected from his own camp.
A spokesperson for Mahathir’s Bersatu party couldn’t immediately be reached for comment on Anwar’s remarks.
Mahathir could be working together again with the United Malays National Organisation or Umno, the party he once led and defected from, and which he later helped defeat in a stunning victory in 2018. It could also bring fresh political tumult to the Southeast Asian nation, and deter investors looking for stability at a time when the global coronavirus epidemic and trade wars are hurting growth.
“It’s a sell signal,” said Stephen Innes, chief market strategist at Axicorp Ltd. “The current situation will likely mean there will be horse-trading going on and that may be more likely to boost spending rather than fiscal prudence and, perhaps, the risk here is more massive deficits. But the more parties involved, the more complicated the horse-trading.”
The Malaysian benchmark stock index has fallen 17% since the 2018 elections, making it one of the 10 worst-performers globally.
While the monarchy’s role in Malaysia is largely ceremonial, the king retains some discretionary powers and political leaders typically meet the ruler before announcing major political changes. Mahathir wasn’t present at the meeting with the king or a dinner later attended by many party leaders from ruling and opposition groups.
Should he break ties with Anwar, Mahathir would need alliances with Umno and another opposition group, Pan-Malaysian Islamic Party or PAS, because he wouldn’t have enough parliamentary seats to retain power without them. He must have the support from 112 out of 222 members of parliament.
Anwar’s People’s Justice Party, or PKR, has 50 seats in parliament, and it’s not clear how many will stick with him. Azmin Ali, deputy president of the party, was reported to have met with the king on Sunday. Azmin, who is also economic affairs minister, has at times been publicly at odds with Anwar.
The ethnic Chinese-dominated Democratic Action Party, also part of the ruling coalition, has 42 seats and it isn’t known where their loyalties lie, though they weren’t mentioned as being in audience with the king on Sunday. DAP Secretary-General Lim Guan Eng is Malaysia’s finance minister, and his role may be replaced if the party isn’t part of the new government.
Bersatu has 26 seats, and another ruling coalition party, Amanah, has 11. Umno and PAS have 56 between them, while some parties in the states of Sabah and Sarawak are expected to support Mahathir.
“We’ve been through worse before,” a visibly-tired Anwar, 72, said on Sunday. “This is just a small test.”
The relationship between Anwar and Mahathir has been marked by decades of bitterness and public attacks, stemming from Mahathir’s decision during a prior stint in power to sack Anwar as his deputy amid a dispute on how best to respond to the Asian financial crisis two decades ago.
After he was fired in 1998, Anwar was jailed in the majority Muslim nation for committing sodomy and abusing power, charges he denied. He was convicted in 2014 – during former Prime Minister Najib Razak’s rule – on a subsequent sodomy charge and jailed in 2015 when his appeal was denied.
Anwar was pardoned by the king a week after 2018 election victory and thanked Mahathir for his help in getting released. Mahathir had promised during the election campaign to stand aside for Anwar once he was free but almost immediately pushed back the potential timeline by a number of years.
Questions on the timeline for the handover of power never ceased, fraying the ruling alliance and making it harder for the government to focus on fulfilling campaign pledges.
At a Friday press conference, Mahathir said he had unanimous agreement from Pakatan Harapan leaders to stay in power through the Asia-Pacific Economic Cooperation meetings later this year, which Malaysia is hosting. He said he held the prerogative to decide whether to step down at all. Anwar, who was at the media briefing, concurred and said he would need to be patient.
“We have been most moderate in our approach, always supportive, and almost god-like in our level of patience,” Anwar said on Sunday. He referenced the legend of a deity with a magic arrow and said, “at the right moment, we will use our magic arrow.” – Feb 24, 2020, Bloomberg
