Malaysian ruling party claimed a win yesterday, BUT Malaysians seriously voted for political change after 50 years!
Malaysians clearly want some serious change.
For five decades, Malaysia's ruling national front was enjoying a massive majority (90% of the seat on average). But Malaysians awoke on Sunday to a vastly altered political landscape after voters suddenly and unexpectedly questioned five decades of political status quo and decided it was time for a change.
According to a Reuters today, the result from Saturday's elections were still being counted on Sunday morning, but the protest vote looked to hand an unprecedented five state assemblies to the opposition and cut the coalition's majority in federal parliament to a record low.
Oppositon leader, Annuar Ibrahim, (was once accused and jailed for being a "homo") is writing a new chapter, redefining a new moment. There is no doubt that the national front has suffered a serious setback -- security fears.
The last time when the party lost in the Parliament in 1969, a state of emergency was declared, and at least 200 people were killed.
Malaysia is definitely a great place to do business and the government has been business friendly. Regardless of political party, we expect these good things to continue because it is good for their constituents and good for the export-oriented economy.
Economists said foreign investors may stay on the sidelines in the short-term to see how the opposition strength would influence economic policies. There are a lot of uncertainties, a lot of risks, but it may turn out positive. It can be a catalyst for change in the right direction.