Bowring isn't accurate in everything; for example, he describes Altantuya's murderers as DS Najib's "security guards" rather than as police officers serving in PDRM's Unit Tindakan Khas. However, his last three paragraphs more than make up for it (bold emphasis mine):
Ultimately, the race issue prevents wholehearted cooperation among the opposition parties in Anwar’s coalition. Some of the Islamists hanker to make common cause with UMNO to strengthen Malay unity and defend pro-Malay, pro-Islamic discrimination. This in turn fits well with allegations by senior UMNO figures that Anwar is a traitor to his race by aligning with the Chinese and Indian minorities.Spot on, wouldn't you say? What are we doing about it?
The notion that Malays and Muslims are under threat from minorities is absurd. But it helps keep Malays loyal to UMNO even while the ruling coalition can claim that it is both multiracial and moderate. The coalition, however corrupted, is still seen by many as representing moderation and stability. UMNO may have pandered to Islamist demands, but few would accuse its leaders of piety or puritanism.
Najib’s slogan is “One Malaysia,” an attempt to portray his government as a unifying force. Its actual policies may remain racially skewed in favor of Malays and oppressive of dissent. But given the opposition’s divisions, and the Malay sense of entitlement that makes multiracial politics so difficult, the slogan may work to keep UMNO in power for another decade.
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