Now that the 'Caliph' himself has spoken, all speculations of sandiwara (play-acting) and conspiracies behind his resignation may now be dismissed as a product of over-stimulated imagination.

Prime Minister Dr Mahathir Mohamad has simply decided that it was opportune time to "stop eating when the food still tasted good".

Events have actually turned out better (thanks to the imploring of loyalists and supporters) than what he had originally planned — an immediate abdication of power and positions.

Although shock tactics — a Mahathir trademark — have proven useful to him in dealing with boat-people, currency traders, markets, political opponents or detractors who predicted that he would die in office, they are however inappropriate for Malaysians who support and believe in him, and whose hopes would otherwise be brutally dashed by such a sudden and immediate resignation.

Happily, a rather long 16-month transition period has been agreed upon as a "compromise".

Ex-deputy premier Anwar Ibrahim might view such a long transition period as bordering on "political absurdity" but in the light of existing political realities, it is probably necessary and right to do so.

A transition for transfer of power should be an orderly transition from the outgoing administration to the incoming administration. A longer transition ensures continuity in the working affairs and existing policies of government for a certain period in the interest of stability before the successor introduces a new style and tone of leadership.

This is especially so when after 21 years at the helm Mahathir has dominated the political structure with a centralisation of power that is the envy of any dictator.

With every major project requiring the Economic Planning Unit's and Foreign Investment Committee's approval — both agencies of which are under his direct control — he controls the economic pulse of the country as both Prime Minister and Minister of Finance.

The greater the power concentrated in one man, the longer the time is required to smoothly restructure, devolve and transfer it to the successor.

Our economy is still not out of the woods, and the successor will need to be held by the hand for a period of time to divine the intricacies of its problems before he could find his own inspiration to direct it.

Any sudden and immediate transition of power may on the other hand jolt business and markets' confidence and encourage the jostling for positions by contenders that aggravate it!

The only downside of such a long transition period is the possible trying time for both the prime minister and his deputy to adjust to the new power relations.

Although the surface appurtenances of power still exist, the premier who is accustomed to wield unbridled authority now confronts an imperceptible slippage of it to his deputy as premier designate.

In a country where political patronage is the key to political, corporate and business success, more and more of corporate and political elite will naturally shift allegiance and gravitate towards the deputy and exert pressure on him to act more independently of the PM's wishes and policies.

Media too will shift more attention to the prime minister-in-waiting and scrutinise nuances of his words. The premier designate will then have to strike a balance and exercise restraint against the backdrop of his growing importance.

Unlike Lee KuanYew who still retains the post of senior minister, Mahathir in contrast has shown the intention not to interfere in government after the16 month transition. He said that when he wanted to leave, he would leave, and not retain any position except for ordinary Umno membership in Kubang Pasu.

Having no party or official positions does not per se pre-empt interference. I don't recollect for example that China's paramount leader Deng Xiao Peng had any official or party positions when he directed national affairs over premier Li Peng.

So whether or not he could keep to this resolve of non-interference is actually a function more of his personality/stature bearing on the circumstances as they then evolve.

For example, it will be interesting to note his reaction if hypothetically there were any move by the government after the 16 month transition to grant a pardon to Anwar Ibrahim.