Bank Muamalat chief economist Afzanizam Abdul Rashid said Amir would be able to demonstrate a strong commitment to reducing Putrajaya’s fiscal deficits and keeping its debt level on a sustainable trajectory.
“His appointment will be positive for the financial and capital markets given his knowledge and experience in the financial world.
“This will be key as he also understands the impact (government policies) may have on the bonds and equities market,” Afzanizam told FMT, adding that investors would react positively to Amir’s appointment.
Amir, who was sworn in as a senator before the Dewan Negara this morning, was the CEO of Tenaga Nasional Bhd before being appointed to EPF in March 2021.
Malaysia University of Science and Technology economics professor Geoffrey Williams said Amir’s appointment was an excellent move as he was not a politician.
“He is non-political and will be focussing on the details of policy, fiscal management and good governance. This is exactly what we need now.”
Williams said this would spur investor confidence as the EPF CEO was well-respected in the investment community as the head of the largest investor in Malaysian markets.
“He has also spearheaded significant changes in the services offered at EPF,” he said, citing the extension of EPF coverage to housewives and gig economy workers, as well as the establishment of a new third EPF account, among others.
“We hope that his appointment signals a focus on the pensions crisis, too,” he added.
Afzanizam said Amir’s stint at EPF meant he would understand the plight of Malaysians in terms of the cost of living and saving for retirement.
However, Pacific Research Center of Malaysia principal adviser Oh Ei Sun sought to play down Amir’s appointment, saying Prime Minister Anwar Ibrahim would still call the shots when it comes to policies and reforms.
“I don’t see him rolling out new policies or reforms. But at least, with Anwar’s ministerial burden being lightened, the market in general will react quite positively to his appointment.
“In that sense, it’s good. But if you’re looking at reforms, it’s very premature at this point.”
Amir previously served as the CEO of MISC Bhd, Petronas Dagangan Bhd, and Khazanah Nasional’s hospitality arm, Themed Attractions Resorts & Hotels Sdn Bhd, among other roles.
In today’s Cabinet reshuffle, Anwar, who is also the finance minister, appointed Lim Hui Ying as deputy finance minister to replace Ahmad Maslan, who was redesignated as the new deputy works minister.
The ministers will be sworn in at Istana Negara at 2.30pm.