Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

Malaysia to unveil cabinet on Monday, after new PM named amid turmoil

World Mar 08, 2020 11:25PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Malaysia to unveil cabinet on Monday, after new PM named amid turmoil
 
NG
-0.70%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

KUALA LUMPUR (Reuters) - Malaysia's new prime minister will announce his cabinet on Monday, a week after he was appointed amid political turmoil, with a technocrat or technocrat-turned-politician expected to be drafted into the crucial finance ministry as the economy slows.

Muhyiddin Yassin, who succeeded Mahathir Mohamad after the seasoned politician abruptly quit last month, will also have to accommodate members of a corruption-marred party and an Islamist group in the cabinet after forming the government with their support.

He will present the list of ministers to the king before making an announcement in the afternoon, his office said.

Muhyiddin could tap someone with finance experience as the finance minister or keep the role himself and name a technocrat as his deputy in the department, said a source who spoke on condition of anonymity ahead of an official announcement.

One of the top contenders for a ministerial position in the finance department is Mustapa Mohamed, an economist turned politician from Muhyiddin's party, the source and another person with knowledge of the matter said.

The prime minister's office declined to comment. Mustapa did not respond to requests for comment.

While the current government that replaced a multi-ethnic one could steer policies towards Malay nationalism, its immediate priority would be to try and shield Southeast Asia's third biggest economy from the impact of the coronavirus spread.

Malaysia has so far reported 99 cases of coronavirus infection.

The government has cut its growth forecast for this year and announced a 20 billion ringgit ($4.76 billion) stimulus package. The economy grew at its slowest pace in a decade in the fourth quarter.

The sharp fall in world oil prices, which intensified on Monday, will also be a drag on the country, the world's third-biggest exporter of liquefied natural gas. Another worry is its diplomatic row with India, the biggest buyer of Malaysian palm oil.

Malaysia to unveil cabinet on Monday, after new PM named amid turmoil
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email