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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MYR
Ismail Sabri Yaakob has been confirmed as Malaysia's new prime minister having been appointed to the position by King Al-Sultan Abdullah earlier today, Yaakob's appointment ends the period in opposition for the conservative Barisan Nasional (National Front, BN), which has governed Malaysia for much of its independent history.
- Yaakob hails from the United Malays National Organsiation (UMNO), the dominant party within the BN. It has formed a coalition with the conservative Perikatan Nasional(National Alliance, PN), the Gabungan Parti Sarawak (Sarawak Parties Alliance, GPS), and some independent members to secure a majority in the lower house, the Dewan Rakyat.
- Yaakob will be sworn into office on Saturday 21 August.
Chart 1. Dewan Raykat, Seats
Source: parliammen.gov.my, MNI
- Yaakob's appointment marks the return of his UMNO party to the seat of power for the first time since the 1MDB scandal that resulted in the ouster of former PM Najib Razak and the party in 2018.
- While the appointment of a new PM indicates a shift towards some stability in Malaysian politics after a period of significant turmoil, the fractious intra- and inter-party divisions within and between the BN, PN, and GPS will mean that there will remain the risk of fragmentation going forward.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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