Abdullah sworn in as Malaysia PM - Agencies

Abdullah Ahmad Badawi, the Malaysian prime minister, has been sworn in for a second five-year term, rejecting calls to resign after the ruling coalition's worst-ever election performance.

"I pledge to carry out my duties honestly and with all my abilities," he said, reading out the oath on Monday as he was sworn in by Malaysia's king.

"I pledge to protect and uphold the constitution."

The Barisan Nasional (BN) coalition, which has ruled Malaysia since the country gained independence half a century ago, retained a simple majority in Saturday's polls, but suffered unprecedented losses to a loose opposition coalition.

The loss of seats also broke the BN's hold on two-thirds of the parliamentary majority which enabled to amend the constitution without debate.

On Monday, Malaysian stocks dived six per cent to a seven-month low with the ringgit also falling as the market reacted to the political uncertainty following the coalition's heaviest election losses in 50 years.

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