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Viewsroom

Viewsroom: 1MDB rears head in Malaysian election

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 16 May 2018

⏱️ 18 minutes

🧾️ Download transcript

Summary

The $5 bln sovereign-wealth fund’s scandal played a role in voters replacing Prime Minister Najib Razak with nonagenarian Mahathir Mohamad. Its resurgence could mean bad news for Goldman Sachs and Najib himself. Plus: Walmart nabs Flipkart in a big bet on e-commerce in India. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The views expressed on this podcast are those of the participants, not of Rogers News.

0:10.6

Malaysia's shocking election and Walmart's $16 billion move in India.

0:15.4

These are the topics we'll be discussing on this week's edition of the Views Room,

0:19.1

a weekly conversation among Breaking Views columnists about the ups and downs of the Views Room, a weekly conversation among breaking

0:20.8

views columnists about the ups and downs of the world of finance. I'm Jennifer Sabah. Malaysia

0:26.5

just elected 92-year-old Mahathar Muhammad as its next prime minister, delivering a stunning

0:32.2

upset to incumbent Najee Brazak. The 1MBD scandal is at the heart of this shocking turnout. I'm going to turn it

0:39.4

over to my colleagues in Asia who will shed some more light on the results. Thanks, Jen. I'm Pete

0:46.9

Sweeney. I'm sitting here in Hong Kong chatting on the telephone with fellow columnist Clara Ferrer

0:52.1

Marquez in Singapore and Unigalani in Mumbai.

0:55.3

We're talking about the recent electoral upset in Malaysia,

0:57.8

where voters just tossed Prime Minister Najee Brazak out on his ear

1:01.8

in favor of a coalition of opposition parties led by 92-year-old Mahafir Muhammad.

1:07.7

This marks Malaysia's first change of government in six decades,

1:10.4

which means, in effect, modern Malaysia's first change of government in six decades, which means, in effect, modern Malaysia's first change of government, really.

1:14.7

And Mahathir becomes the world's oldest elected statesman.

1:18.9

I think, you know, Clara, I think it's fair for us all to admit that we were caught off guard by this.

1:23.5

We weren't the only ones.

1:24.7

Clara, why do you think so few people saw this coming?

1:27.8

Well, it's certainly a surprise.

1:29.9

I mean, we knew it was a cliffhanger election.

1:32.1

Malaysia's come close to change before.

...

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