Malaysia’s billionaire king, Sultan Ibrahim Iskandar, is being officially installed six months after he was sworn in for a five-year term under a unique rotating monarchy system. The coronation at the national palace on Saturday formalizes the sultan’s role as Malaysia’s 17th king in a ceremony steeped in Malay culture and pageantry.
FILE - The incoming 17th King of Malaysia , the Sultan of Johor, Sultan Ibrahim Iskandar, is seen during welcoming ceremony at National Palace in Kuala Lumpur, Malaysia , on Jan. 31, 2024. Malaysia ’s billionaire King Sultan Ibrahim Iskandar will officially be installed on Saturday, July 20, 2024, six months after he was sworn in for a five-year term under a unique rotating monarchy system.
Sultan Ibrahim, one of the country’s richest men, has an extensive business empire ranging from real estate to telecommunications. The 65-year-old monarch from southern Johor state has good relations with Prime Minister Anwar Ibrahim and is candid about Malaysian politics, having spoken out against corruption and racial discrimination.
Sultan Ibrahim’s high corporate profile — including a stake in the multibillion-dollar Forest City development project in Johor with China’s beleaguered developer Country Garden — has raised eyebrows because of concerns of a possible conflict of interest. He told the Singapore Straits Times that he plans to revive a high-speed rail link project with Singapore and bolster the troubled Forest City project.
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