Idris Jala News
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Malaysia Prime Minister Najib Razak stocked his Cabinet with party stalwarts ahead of a leadership test after a poor showing by his coalition’s ethnic Chinese partners led to its narrowest election win since independence.
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Malaysia’s property companies and banks including UEM Land Holdings Bhd., CIMB Group Holdings Bhd. and IJM Corp. are set to benefit as Prime Minister Najib Razak’s election victory may spur more infrastructure spending.
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Najib Razak was sworn in as Malaysia’s prime minister after his coalition won a mandate extending its 55-year rule, with stocks and the ringgit rallying even as Anwar Ibrahim’s opposition vowed to contest some results.
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Malaysia Prime Minister Najib Razak said stocks and the ringgit would plunge if he loses next month’s election, contrasting his government’s pursuit of stable change with the upheaval that has engulfed the Middle East.
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Malaysian Prime Minister Najib Razak, whose coalition faces its biggest challenge in 55 years, said the election offers a choice between a reforming government that’s boosted growth and a fractious opposition that could bring “catastrophic ruin” for the country.
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Malaysia will continue to step up efforts to liberalize the economy as the country seeks private investments, Minister Idris Jala said.
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Malaysia’s government said it has identified private sector-led projects worth $444 billion that can turn around a slump in investment and help the country achieve developed nation status by 2020.
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Malaysian Prime Minister Najib Razak asked his Canadian counterpart Stephen Harper to reverse the initial rejection of Petroliam Nasional Bhd.’s C$5.2 billion ($5.2 billion) takeover of Progress Energy Resources Corp., correspondence between the two leaders shows.
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Petroliam Nasional Bhd., Malaysia’s state energy company, said its proposed $5.2 billion takeover of Progress Energy Resources Corp. will help Canada develop gas resources and find an alternative market.
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On a sweltering Sunday in April, more than 300 people pack a room above GC Curry House, a popular eatery on a tree-lined avenue in Kuantan on Malaysia’s east coast. They’re here to discuss the potential hazards of a rare- earth refinery Sydney-based Lynas Corp. is building about 25 kilometers away that will process radioactive ore into the exotic metals that go into tech gadgets, hybrid cars and weapon systems.
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