The country's benchmark stock index slipped 11 per cent, the most among Asia's most actively-trade stock markets, while the ringgit currency lost 4.5 per cent.[SINGAPORE] Malaysia's stock market and currency are set for a rebound from their slump following the elections almost a year ago, said Nazir Razak, former chairman of Malaysia's second-largest bank.
Following the elections, Mr Najib has been put on trial for charges linked to his role in the troubled state fund 1MDB, while the leadership of various ministries, central bank and government-owned companies were changed. Projects with foreign governments were also put on hold, though Mr Mahathir recently reinstated a number of infrastructure projects by Chinese companies.
Mr Nazir, 52, left CIMB Group Holdings Bhd last year after nearly three decades at the Malaysian bank. He helped start private equity fund Ikhlas Capital with partners he says have a century of experience combined. He started the fund because there's a void in the private equity space in South-east Asia, where the average annual deals are just starting to rise to the range of US$10 billion to US$12 billion, from US$4 billion to US$6 billion five years ago, he said.