Malaysian Prime Minister Anwar Ibrahim leads a unity government that has shown stability through mid-2026, with no recent motion of no confidence, loss of supply, or major crisis prompting an early dissolution of the 15th Parliament. The legislature first convened in December 2022 and faces automatic dissolution on December 19, 2027, unless the Yang di-Pertuan Agong acts earlier on the prime minister’s advice. Traders appear to price in a late-2026 or mid-2027 call to align the general election with state polls in Melaka and Johor, reducing costs, while Anwar has publicly ruled out a snap election. Ongoing reform efforts, including a rejected prime-ministerial term-limit amendment, and routine parliamentary business have not altered this timeline. Any sudden shift in coalition support or economic pressures could still accelerate dissolution before the automatic date.