Nazir: Dr M has a habit of exceeding expectations
GE14 | CIMB chairperson Nazir Razak has conceded that the results of the 14th general election, which witnessed BN being ousted from power after six decades, came as a complete surprise.
“We were all surprised... looking at various surveys.... nobody really predicted this, apart from one or two,” he told Bloomberg in an interview.
Nazir was also asked if Pakatan Harapan chairperson Dr Mahathir Mohamad faces a difficult balancing act, having to cater to four different parties, and if he would fall short of expectations...
GE14 | CIMB chairperson Nazir Razak has conceded that the results of the 14th general election, which witnessed BN being ousted from power after six decades, came as a complete surprise.
“We were all surprised... looking at various surveys.... nobody really predicted this, apart from one or two,” he told Bloomberg in an interview.
Nazir was also asked if Pakatan Harapan chairperson Dr Mahathir Mohamad faces a difficult balancing act, having to cater to four different parties, and if he would fall short of expectations.
The banker, after a moment's hesitation, replied: “He has made it a habit of exceeding expectations.”
Quizzed on the risks Mahathir faced, Nazir remarked: “I think the biggest risk is short term versus long term... what he needs to do in the short term, how people and markets react to that and what is best for Malaysia in the long term.”
As for the incoming government, the CIMB chairperson said it promises an interesting combination of those with vast experience as well as energetic young people with new ideas.
He also expected Harapan to keep to its manifesto.
“Incidentally, the manifesto also includes the setting up of a consultative council to look for a new way, a new formula for Malaysians,” Nazir (photo) added.
Commenting on the market reaction to the change in government, he believes that it would be volatile for a few days.
“It depends on how the new government calms markets down, how quickly they can lay out their agenda, and who takes the reins, particularly in economic portfolios,” he added.
Nazir also expected a smooth transition of power from the former government led by his brother Najib to the Mahathir-led coalition.
“People voted loudly and clearly for change, this never happened before.
“BN has been in power for 61 years so I can understand some nervousness... but where we stand today, the will of the people will prevail.
“I expect a smooth transition according to what the people want,” he added.
According to Bernama, Mahathir is scheduled to be sworn in as the new prime minister before the Yang di-Pertuan Agong Sultan Mahmud V at Istana Negara in Kuala Lumpur at 9.30pm.
The 92-year-old politician was the former premier from 1981 to 2003. He had returned to active politics after retiring 15 years ago in order to oust Najib.
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