Nazir Razak: It's an NGO, not a political party

It is not a new political party being planned, just the idea of setting up a non-governmental organisation (NGO), says Datuk Seri Nazir Razak.

"I refer to recent news reports that I am setting up a new political party. This is not true," said the CIMB Group chairman in a statement Wednesday.

Nazir, who is also the brother of Prime Minister Datuk Seri Najib Tun Razak, said that he had been growing "increasingly concerned" about the Malaysian socio-political environment and its impact on the economy.

"In this context, I have had conversations with like-minded friends, including Datuk Saifuddin Abdullah, about the need to better enable moderate Malaysians to voice their views, concerns and suggestions," said Nazir.

"We have discussed setting up an NGO, but it remains just an idea at this moment," he said.

A news report said Nazir was starting a new non-partisan party to reach out to all races emerged on Tuesday.

It said that Nazir has been meeting with business leaders in the United Kingdom and Kuala Lumpur to discuss the starting of a new non-partisan party to reach out to all races.

The report came out after DAP's announcement that the Pakatan Rakyat coalition was dead, saying it no longer existed after the motion by PAS to sever ties with DAP.