The relationship between former Prime Minister Mahathir Mohamad and his former Deputy PM Anwar Ibrahim has taken a few twists and turns.

From serving together in an UMNO government, to bitter political enemies, and back to political allies in the Pakatan Harapan (PH) coalition. But it could end with the pair sharing a jail cell together.

On Nov. 30, a Royal Commission of Inquiry (RCI) recommended that a criminal investigation should be launched against both Mahathir and Anwar. It tabled its report in Parliament, stating that:

• Then Finance Minister Anwar "deliberately concealed facts and information and made misleading statements to the Cabinet" over foreign exchange losses by Bank Negara Malaysia (BNM) in the 1990s.

• Then PM Mahathir was aware of Anwar's misleading statements and gave permission for him to make them.

A Royal Inquiry

The RCI was established back in Jul. 2017, after Malaysia's head of state Sultan Muhammad V of Kelantan gave his assent. Its aim was to investigate foreign currency transaction losses incurred by BNM between 1992 and 1994.

The bank's losses then amounted to RM31.5 billion (around RM58.3 billion today, or S$19.2 billion).

In Aug. 2017, Mahathir filed a legal request to disqualify two members of the RCI, on grounds that they were part of the task force that recommended the government to set up an RCI in the first place.

But his application was dismissed and the RCI commenced on Aug. 21. Having compiled its report, it now recommends that both Mahathir and Anwar undergo a formal criminal investigation probe.

Mahathir previously blasted the inquiry as "vindictive in nature." In Sept. 2017, he said:

"The main aim of the government now is purely to put pressure on me... and all the critics of Prime Minister Najib Razak related to our criticisms of the 1MDB scandal and other woes. There are so many other crises now which require an investigation instead of wasting public funds on this."

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Not the only government scandal

The news comes as a boon to PM Najib Razak and his party, the UMNO-led coalition of Barisan Nasional (BN). For months, Mahathir has been a thorn in their side, being particularly outspoken on the alleged 1MDB embezzlement scandal.

The state fund, which was set up during Najib's term, is currently under investigation by the United States' Department of Justice. As much as US$4.5 billion (S$6.06 billion) is alleged to have been misappropriated from the fund.

Mahathir has pledged to investigate the 1MDB scandal if his PH coalition is elected in the upcoming general election, which must be held by Aug. 2018.

Mahathir also promised to arrest anyone found guilty -- even Najib, if necessary. On Oct. 31, this pledge was even included in PH's manifesto.

What next for the PH?

But with the RCI's findings made public, the spotlight is now back on Mahathir and Anwar.

It must not be forgotten that Mahathir sacked Anwar from his government after a 1999 investigation into his DPM's sexual misconduct. It's fair to say that there's little love lost between the two.

They might have joined forces over their mutual goal of taking down Najib's government, but a criminal probe launched as a result of the RCI might break apart that fragile alliance.

On his part, Anwar previously claimed that he did inform the rest of the Cabinet about the true extent of BNM's losses back in 1993. In Sept. 2017, he said:

"I take issues with any cabinet minister who says they were not aware of the losses."

Would Mahathir be willing to throw his friend turned enemy turned friend again under a bus to absolve himself of blame? Would Anwar take this opportunity to sink the man who sacked him from Cabinet?

Remember, Najib recently visited Anwar in hospital. He claimed it was a simple social visit, but it certainly gave room to imagine an attempt to divide and conquer.

Or maybe Anwar and Mahathir would stand firm together even as the criminal probe is launched.

It's too early to tell, but one thing's for sure -- this is the last thing the PH coalition wanted in the run-up to the general election.

Top image via Getty Images.

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