Nazir participates actively in SEC meet despite being abroad

CIMB Group Chairman, Datuk Seri Nazir Razak, despite being abroad, participated actively in the first Special Economic Committee (SEC) meeting via video conferencing on Tuesday.

Eight other committee members attended the meeting, which was chaired by Minister in the Prime Minister's Department, Datuk Seri Abdul Wahid Omar, at the Prime Minister’s Department Complex here today.

Abdul Wahid said Nazir, the younger brother of Prime Minister Datuk Seri Najib Tun Razak, participated in the three-hour meeting via video conferencing which started at 8.30am.

The committee members who attended the meeting were Khazanah Nasional Bhd Deputy Chairman Tan Sri Nor Mohamed Yakcop; Khazanah Nasional Managing Director Tan Sri Azman Mokhtar; Chief Adviser of China Banking Regulatory Commission Tan Sri Andrew Sheng Len Tao; Symphony Life Bhd Chief Executive Tan Sri Mohamed Azman Yahya; RAM Holdings Bhd Chief Executive Officer Datuk Seri Dr K. Govindan; Universiti Kebangsaan Malaysia Vice Chancellor Prof Datuk Nor Azlan Ghazali; Association of Banks in Malaysia Chairman Datuk Abdul Farid Alias and President Federation of Malaysian Manufacturers president Datuk Seri Saw Choo Boon.

Also present were representatives from Finance Ministry, Bank Negara Malaysia, Ministry of International Trade and Industry, Securities Commission Malaysia, Prime Minister's Office and Economic Planning Unit.

Last Wednesday, Najib, who is also Finance Minister, announced the formation of the 10-member SEC which would consider immediate- and medium-term planning to further strengthen the country's economic fundamentals.

Najib said the SEC would report directly to him and he would scrutinise the current issues like the ringgit's value, maintaining the stability of the financial industry as well as improving confidence in the capital markets.

On Nazir's Instagram saying hinting at his reluctance to join the committee, Abdul Wahid said "that has never been the case from my perspective, from the time we engaged with him".

"He has been supportive being part of the team. Indeed, when we selected the members we wanted the people whom we feel can contribute effectively to the ideas and overall process within the committee.

"I must say all members, including Nazir, participated actively," he said.

Last week, Nazir posted in his Instagram account on the 10-member committee, saying: "Expected a new committee but not with me in it! Anyway, will speak truth to power & hope it will help government to steer economy through this turmoil and lessen the pain’.