Polls results may not be good news for investors, says analyst FMTNews FMTEng
The growing support for PN is bad news for Prime Minister Anwar Ibrahim as it will make it harder for him to undertake fundamental reforms to the economy.
“The election results will send chills down the spines of many investors, both foreign and domestic,” he said, noting that PN’s “green wave” swept more than a third of the seats in Selangor, the country’s most prosperous state. The elections resulted in a status quo where Pakatan Harapan and its ally, Barisan Nasional, retained Selangor, Penang and Negeri Sembilan with reduced majorities while PN handed PH-BN a drubbing in Kelantan, Terengganu and Kedah.James Chin, a professor of Asian Studies at the University of Tasmania, said Anwar will now face a greater challenge to win over support from the Malay community to maintain a stable and sustainable federal administration.
“I doubt he would be able to introduce a thorough reform such as the New Economic Policy. I don’t think that is possible.”
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