EXCLUSIVE | Billionaire Robert Kuok, whom Prime Minister Dr Mahathir Mohamad appointed as a member of the government's council of elders, may not be coming to Malaysia.

According to the council's spokesperson Kadir Jasin, the tycoon shared his views from Hong Kong where he is based.

“You see, the likelihood, he may not be travelling to Malaysia but we are in contact with him.

“When we want his views, we will call him,” he told Malaysiakini.

Similarly, Kadir said when Kuok wished to pass a message to the council or to Mahathir, he would contact the members.

“You know he is very frail nowadays,” he added in reference to the 95-year-old business magnate who is rated by Forbes Magazine as Malaysia's richest person.

Mahathir had said the council would conduct studies and prepare papers for the cabinet as the new government is in the process of setting up ministries.

The council would also assist the new government in implementing its 100-day promises in its manifesto, and is expected to last for approximately the same duration.

The other members of the council are former finance minister Daim Zainuddin, former Bank Negara governor Zeti Akhtar Aziz, former Petronas president Mohd Hassan Merican, and economist Jomo Kwame Sundaram.

In February, the spotlight fell on the billionaire when he was accused of funding the then opposition Pakatan Harapan.

This led to former minister Nazri Abdul Aziz launching a verbal tirade against him and challenging the nonagenarian to contest in the 14th general election.

Kuok later denied the allegation via a statement from his office.

Meanwhile, Reuters reported Daim today met the heads of the national stock exchange, the securities regulator and the central bank for a briefing on the stock and currency markets.

Whereas Zeti met ratings agencies to brief them on new economic policies, a source familiar with the discussions said.

Mahathir's alliance has promised to cancel an unpopular GST, reintroduce fuel subsidies and review Chinese investment deals, raising concerns over the country's fiscal strength.

The ratings agencies wanted to know more about the government's plans to cancel GST, how it would deal with the revenue shortfall, and its plan to review projects signed off by the prior government, the source said.

Earlier on Monday, ratings agency Moody's said if the new government fulfilled its campaign promises without any adjustments, it would be credit negative for the economy, adding that there was "little clarity" on the new government's economic policy agenda.