Following the elections, Najib has been put on trial for charges linked to his role in the troubled state fund 1MDB, while the leadership of various ministries, central bank and government-owned companies were changed. Projects with foreign governments were also put on hold, though Mahathir recently reinstated a number of infrastructure projects by Chinese companies.
(May 2): Malaysia’s stock market and currency are set for a rebound from their slump following the elections almost a year ago, said Nazir Razak, former chairman of Malaysia’s second-largest bank.
The country’s benchmark stock index slipped 11%, the most among Asia’s most actively-trade stock markets, while the ringgit currency lost 4.5%. The selloff came after Prime Minister Mahathir Mohamad defeated Nazir’s older brother Najib Razak at the polls, which led to Malaysia’s first change in government since its independence.
