Finance minister-designate coy on share market reaction

GEORGE TOWN: The share market reopens today after a five-day break which saw the country going through a momentous event. How will the market react?

That was the question on the lips of most journalists when Finance Minister-designate Lim Guan Eng showed up.

Lim, however, was coy. “I’m not a stockbroker. I cannot answer your question even when I am sworn in.

“The Securities Commission chairman is here in Penang waiting to brief me. Let me meet with my senior officials,” he said yesterday.

On fiscal policy plans, Lim said that would be handled by the Team of Eminent Persons (TEP).

“As the Finance Minister, it’s a heavy task and I will not make impromptu comments,” Lim said, adding that there are steady hands watching the share market and the government officers still in place.

Lim was in Penang to announce Chow Kon Yeow as his successor as Penang Chief Minister.

After the announcement as the state’s fifth chief minister, Chow showed his witty side, teasing Lim about getting more allocations for Penang.

Chow pointed out that many projects including the Sungai Pinang flood mitigation project needed Federal support.

Lim earlier announced that Chow would be sworn in at the official residence of the Yang di-Pertua Negri Tun Abdul Rahman Abbas at Sri Mutiara at 10am today.

Lim thanked Penangites in an emotional speech.

“It is because you made us the state government that you gave us the chance to perform and open the eyes of all Malaysians. I am leaving for Putrajaya, but I will come back. Because you can take me out of Penang but you cannot take Penang out of me,” he said.