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Malaysia’s veteran politician Mahathir defeated at polls

Mahathir Mohamad, the 97-year-old elder statesman of Malaysian politics, lost his parliamentary seat in Saturday’s polls, likely ending the career of one of Asia’s most enduring politicians.
Mahathir came in fourth in a five-way fight in his long-held constituency in the holiday resort island of Langkawi, the country’s election commission said.
It was his first electoral defeat in more than half a century.
Mahathir held the Guinness World Record for being the “world’s oldest current prime minister” when he became premier for a second time in 2018 just two months shy of his 93rd birthday.
Visibly slowed by age but still looking healthy, he ran this time around under his own Homeland Fighters’ Party and had laughed off suggestions he should retire, telling reporters before the election he had a “good chance” of winning.
“I’m still standing around and talking to you, I think, making reasonable answers,” Mahathir said.

He added his party would not form any alliances with parties that are led by “crooks or jailbirds” — an apparent reference to the United Malays National Organization (UMNO), the party of jailed former prime minister Najib Razak.
‘Mahathir’s time has passed’
Mahathir has been criticized for ruling the Southeast Asian nation with an iron fist from 1981 to 2003 but is also hailed for helping transform the country from a sleepy backwater into one of the world’s top exporters of high-tech goods.
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Mahathir’s long leadership provided political stability and he gained the title of “Father of Modern Malaysia” as he oversaw the construction of highways and industrial parks in the 1980s and 1990s.
He came out of his 15-year retirement to lead the opposition Pakatan Harapan (Alliance of Hope) coalition in the 2018 polls amid voter anger over then incumbent Najib’s role in the massive financial scandal at state fund 1MDB.
The reformist bloc won a stunning victory over UMNO and Najib, who was later convicted of corruption and is currently serving a 12-year jail sentence.
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Mahathir became premier again but his government collapsed in less than two years due to infighting.
He has warned that Najib would be freed if the jailed politician’s allies in UMNO win.
He also offered to become prime minister a third time, but observers said he had no chance from the beginning.
His titanic clashes with opposition leader Anwar Ibrahim, his erstwhile heir-in-apparent with whom he had a bitter falling out, have dominated and shaped Malaysian politics over the past two decades.
In the end, age was his biggest opponent.
“Mahathir’s time has passed,” Bridget Welsh of the University of Nottingham Malaysia told AFP earlier this month ahead of the election.
Source: newsinfo
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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