Long-time Malaysian statesman Anwar Ibrahim is the country’s new prime minister after the Southeast Asian nation’s palace made the announcement on Thursday ending a protracted election deadlock. Following the meeting with state rulers and in line with the Malaysian constitution, the king appointed Anwar as the Southeast Asian nation’s tenth prime minister. The king said in an official statement that Anwar would be sworn in at 5 p.m. local time.
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“Whether you’ve lost or won at the election, I ask that you stand together for our beloved country,” he said, according to a CNBC translation.
“It is important that our nation is free of policy instability as the country needs a strong and stable government.”
He has asked elected members of parliament to continue to serve the nation well and extended gratitude to state rulers for their assistance as well as insights toward the resolution of the crisis.
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Anwar’s appointment caps a more than 20-year wait for the former deputy prime minister who has been opposition leader for two decades amid jail terms and political coups.
Malaysia-listed stocks were in the green ahead of the announcement but took another leg higher shortly after with the benchmark KLCI index up 3%. Telecommunications group Axiata Group Bhd was among the top gainers, sitting more than 7% higher as rubber glove manufacturer Top Glove climbed 6%. Genting Malaysia also rose 5.16% and CIMB rose 3.45%.
The Malaysian ringgit also jumped more than a percent to 4.5070 against the greenback.
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