KUALA LUMPUR (Feb 27): Tan Sri Nazir Razak has been appointed as the chairman of the Asean Business Advisory Council (Asean-BAC) Malaysia for the period of 2023 to 2026.

In a statement on Monday (Feb 27), Asean-BAC said Tan Sri Tony Fernandes and Lim Chern Yuan had also been named as council members.

Nazir is the founding partner of Asean private equity fund Ikhlas Capital and former chairman of CIMB Group Holdings Bhd.

Fernandes is the chief executive officer of Capital A Bhd, while Lim is the group CEO of Yinson Holdings Bhd.

Asean-BAC has been mandated by the Asean leaders to provide private-sector feedback and guidance to boost the region's efforts towards economic integration since 2003.

Its council members are appointed by the ministries in charge, and comprise high-level CEOs of companies from each member country.

Nazir said Asean-BAC Malaysia will continue to be an integral partner in supporting various Asean endeavours of the country.

“Asean-BAC Malaysia will also use the lead time before Malaysia’s Asean chairmanship in 2025 to strengthen strategic relationships and conversations between the private sector, the government and the Asean organisation,” he said.

Asean-BAC Malaysia was previously chaired by Tan Sri Dr Munir Majid, the chairman of CARI Asean Research and Advocacy, with council members Tan Sri Yong Poh Kon of Royal Selangor and Raja Singham of BAC Education Group.