trending Market Intelligence /marketintelligence/en/news-insights/trending/t5rflshxakyqffejwejniq2 content esgSubNav
In This List

Malaysia opposition ends ruling party's 61-year reign with a familiar face

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines

Blog

Making sanctions effective: Key themes for banks


Malaysia opposition ends ruling party's 61-year reign with a familiar face

Malaysia's opposition leader Mahathir Mohamad is set to return as the country's prime minister after his party won a majority of the parliamentary seats in general elections May 9, ending the 61-year rule of Prime Minister Najib Razak's party, Bloomberg News reported.

The four-party Pakatan Harapan coalition secured at least 112 seats against the ruling Barisan Nasional's 79, sufficient for a simple majority in the nation's 222-seat parliament, according to the official figures from the Malaysian election commission seen by Bloomberg.

Mahathir, who served as prime minister of the country from 1981 to 2003, will return to power at the age of 92.

"We are not seeking revenge," Mahathir said. "What we want to do is to restore the rule of law."

Najib, who was once Mahathir's protégé, plans to hold a news conference May 10, according to Khairy Jamaluddin, a member of his cabinet.

"We're going to accept the will of the people," Khairy said. "Whatever it is, we need to respect the will of the people."