Anwar Ibrahim’s position as prime minister rests on a broad but ideologically diverse unity government that secured a two-thirds parliamentary majority after the 2022 election. Recent state-level defeats in Johor and Negeri Sembilan have highlighted eroding support among Malay voters and raised questions about coalition durability ahead of the next general election due by early 2028. Internal PKR defections in mid-2026, though not yet affecting MPs due to anti-defection rules, have prompted Anwar to consider an early poll and accelerated reform pledges. His August 2026 medical procedure at age 79 introduced short-term uncertainty, while ongoing efforts to balance coalition partners continue to limit policy momentum. Traders monitor these coalition dynamics, state results, and any signals of snap-election timing as primary drivers of removal probabilities.