Opposition leader Anwar Ibrahim told a press conference that he expected Prime Minister Abdullah Ahmad Badawi to meet him within the next few days to discuss a transition of power from the government, which has ruled for over 50 years.

He declined to spell out what his majority could be in 222-member assembly, but needs at least 30 MPs to cross the floor from the ruling Barisan Nasional coalition and join his 82-strong bloc made up of three political parties.

'We have enough strength to form the government. Once we meet the prime minister, we will abide by the constitution and seek the consent of the king,' Mr Anwar told a news conference.

The government dismissed his claims of a parliamentary majority, with Deputy Prime Minister Najib Razak calling talk of the opposition winning power 'the politics of deception'.

Mr Abdullah said he would not meet Mr Anwar unless the opposition leader had something substantial to discuss.

Mr Anwar has not named MPs he says will change sides, nor have any Barisan Nasional members publically announced they would switch.

Piling pressure
Nevertheless, the opposition has piled pressure on the government since it did surprisingly well in elections in Mar, depriving it of its two-thirds majority for the first time since independence from Britain over half a century ago.

The political tensions have unnerved investors. The cost of insuring the country?s debt has risen sharply to around US$153,056 (S$219,378) per US$10 million from US$90,185 prior to the Mar election, based on prices for 5-year credit default swaps, a barometer of risk.

Political analysts said it was likely that Mr Anwar had his majority and that there was little the government could do to halt the process now.

'Whatever number of MPs Anwar will bring over to Pakatan Rakyat (his alliance), the moment he reveals their names he will want to have them hidden away,' said James Chin, Professor of Political Science Monash University Malaysia Campus.

Prof Chin said that once Mr Anwar had letters of support from the MPs and is granted an audience by the king, the king would then ask the speaker of parliament to hold a formal vote on the prime minister's post.

He noted that the government of the day could not suspend parliament and that the only option would be to call a state of emergency.

'The problem with declaring a state of emergency in Malaysia is that it needs the king's consent,' Prof Chin said. -- REUTERS