Lim Guan Eng, who has been named as the federal finance minister, is taking a cautious approach to answering questions about his new portfolio.

Asked on the stock market which will open tomorrow after a four-day break – including two public holidays following Pakatan Harapan's upset victory at the polls – he said, "I am only the finance minister-designate, not a stockbroker."

Lim then added he was not able to answer questions pertaining to his new portfolio until he was officially sworn in, the date for which has yet to be fixed.

Yesterday, Prime Minister Dr Mahathir Mohamad announced Pakatan Harapan's top three cabinet portfolios, including Lim as finance minister, Amanah's Mohamad Sabu as defence minister and Bersatu's Muhyiddin Yassin as home minister.

Lim said there would be no comments from him until he meets with the relevant department heads from the Securities Commission, Bank Negara and other relevant financial bodies including the Employees Provident Fund.

He said presently, officers from the Securities Commission were in Penang to brief him.

"So let me meet with all my senior officers from the relevant bodies whether they are from the Securities Commission or Bank Negara.

"Thanks for all the good wishes extended to me, we will work very hard to make the economy alive again," Lim said.

Asked to comment about how he would deal with the new government's 'council of elders' – which includes Robert Kuok (photo) – Lim said the billionaire was not able to come to Malaysia at the moment.

Other members of the group include former Bank Negara governor Zeti Akhtar Aziz, former Petronas president Mohd Hassan Merican, former finance minister Daim Zainuddin and economist Jomo Kwame Sundaram.

"I had no opportunity to meet the others in the council as after the announcement yesterday, I had to return to Penang to announce the new chief minister and attend the swearing-in ceremony," he said.

"I have to pack up to make room for the new chief minister to go in so he can start his work immediately," he added.

"We will not forget (to abolish) the GST, that is what we will do. We will not forget our promises but we need some time," he stressed.

Asked about the current fiscal situation, Lim declined to comment until he was sworn in.

Lim said the finance ministry was a very important position, and any statement he made would impact the market situation.

He added the new government was prepared to face any situation as "we have a steady hand" and department officers were still on the job.

As for any instructions to the Customs Department director-general to abolish the GST, Lim replied: "I cannot give any instructions now but we take note of his spirited defence of the GST".