Former Malaysian PM Razak banned from leaving country

  • Former Malaysian PM Razak banned from leaving country

Former Malaysian PM Razak banned from leaving country

FORMER authoritarian ruler Mahathir Mohamad has been sworn in again as Malaysia's prime minister at the age of 92 - the first opposition election victory in six decades.

Mahathir, admitting that "many of us have less or no experience in running a government", said some expertise of those with knowledge or previous knowledge of any administration needed to be tapped.

In 222 seat parliament, Mahathir Mohamad led alliance won 121 seats, while the outgoing PM Najib Razak's alliance got 79 seats.

The ousted Malaysian prime minister, Najib Razak, has been prevented from leaving the country after appearing to attempt to take a flight to Indonesia.

But in a remarkable turnaround, the pair reconciled and joined forces as they sought to eject Najib, who was accused of stealing billions of dollars from a state investment fund that he set up and oversaw.

On expectations of market volatility on Monday with the change of government, Mahathir said a necessary action would be taken, depending on the way the market moved.

Mahathir also said he has already removed the attorney general, who cleared Najib of any offence.

After that, there were reports of around $700 million transferred from the fund to Najib's personal bank accounts.

The other seven ministers for key functions, including education, rural development, public roads, economy, transport, foreign affairs and multimedia, science and technology, are expected to be unveiled next week. "It is about making amends about his mistakes and moving Malaysia forward".

Mahathir announced three top Cabinet posts on Saturday, including Lim Guan Eng, a former banker and chartered accountant, as finance minister.

"I urge all UMNO members to unite and support the new leadership".

This would pave the way for Anwar's return to politics and to potentially become premier later. Mahathir and Deputy Prime Minister Dr Wan Azizah Wan Ismail, the wife of his jailed ally Anwar Ibrahim, make up the rest.

But voters turned out in droves, determined to push out the scandal-plagued government, with the opposition boosted by the presence of standard-bearer Mahathir, who has a huge following among the country's Muslim Malay majority.

The ceremony before Malaysia's king at the official state palace in Kuala Lumpur ended a day of uncertainty during which rumors swirled that the National Front, Malaysia's perennial ruling party, would try to stay in power. Mahathir is being investigated under that law for claiming a plane he was to travel on was sabotaged during the campaign.

"We accept the people's verdict with an open heart".

But calm returned to offshore trading of the ringgit currency, which lost four percent on Thursday.