Pakatan Harapan’s The Council of Eminent Persons earlier today announced the formation of the Committee on Institutional Reforms aimed to assist the newly-formed Pakatan Harapan government on economic and financial matters.

In a statement, the council also stated that it had appointed five prominent figures, to sit in the reform committee.

RAM Rating Services Bhd, expects Malaysia's gA2 sovereign rating to remain intact, following Pakatan Harapan's (PH) victory in the recent 14th General Election.

The rating agency said some economic and fiscal policy changes would create uncertainties in the near term, as details are scant at this juncture, but the strong emphasis by the new leadership on governance and institutional reforms is a long-term positive for the nation's fundamentals.

Malaysia can meet its revenue requirements even after shelving the Goods and Services Tax (GST) by prioritising its projects, increasing the efficiency of the public sector, avoiding wastage and exploring new sources of revenue, says Tan Sri Zeti Akhtar Aziz.

The former Bank Negara governor also expressed her confidence in the country's economy which can be steered towards the right direction and the 100-day time frame is certainly adequate to provide clarity and make necessary adjustments and changes.