Malaysia: election pledges mount up

Election give-aways are the oldest political trick in the book.

But in Malaysia the prime minister, Najib Razak, is taking them to a new level with the distribution of cash handouts to low-income workers as he prepares to fight a tight election with the country’s opposition.

With the opposition making its own splurge pledges, the voters face some tempting offers. But investors may be less enthralled by the potential pressure on future budgets.