by AFIQ AZIZ/ pic by TMR FILE

ECONOMIST Dr Nungsari Ahmad Radhi (picture) has stepped down from his chairman post at the Khazanah Research Institute (KRI) earlier this week.

Sources close to the matter said he left the position after losing the confidence of KRI benefactors.

“He stepped down as he believed he no longer holds the confidence of the (only) benefactor of the institute,” the source told The Malaysian Reserve (TMR).

With over 30 years of experience under his belt, Nungsari began contributing to KRI as a trustee since its inception in 2013.

Having roles in academia, corporate advisory, economic research, a parliamentarian and policy advocacy, he holds a PhD in Economics from Purdue University.

Nungsari is also currently the executive chairman of the Malaysian Aviation Commission since July 2018, after the historical victory of Pakatan Harapan (PH) in the last general election.

The former Balik Pulau MP was also appointed to helm the Majlis Amanah Rakyat board, before he and seven other members were removed from the agency due to the recent change of government.

Nungsari confirmed with TMR that his resignation from KRI had taken effect on Tuesday.

It is believed that the retiree, who will be celebrating his 60th birthday next week, served the position under a voluntary basis.

Nungsari, however, did not provide the reasons for his leaving.

KRI carries out research on pressing issues faced by the nation.

Through the research outcome, the institute will recommend steps for the government to take in improving public policies for public wellbeing.

The non-profit organisation was incorporated as a company limited by guarantee, sponsored by the country’s sovereign fund Khazanah Nasional Bhd.

Changes of individuals holding significant posts in agencies and government-linked companies are a norm, in line with the change of government or top officials in Putrajaya.

On Wednesday, the Prime Minister’s, Office (PMO) announced the appointment of PM Tan Sri Muhyiddin Yassin as the new Khazanah chairman.

Also made the board members of Khazanah were Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz and the fund’s former director Datuk Mohammed Azlan Hashim.

Muhyiddin succeeded former PM Tun Dr Mahathir Mohamad who stepped down as chairman and member of the board on March 25.

Dr Mahathir quit his second premiership in late February prior to his party abandoned the then ruling PH coalition.