Wednesday September 17, 2008 MYT 2:38:29 PM

Abdullah, Najib swap portfolios

(The Star) PUTRAJAYA: Datuk Seri Abdullah Ahmad Badawi announced he would be handing over the Finance Ministry portfolio to his deputy. In a direct swap, Abdullah would take over the Defence Ministry from Datuk Seri Najib Tun Razak.

The Prime Minister announced this at a press conference Wednesday.

The swap of duties is to take effect immediately.

The move is part of the agreed transition plan which both Abdullah and Najib reaffirmed on Wednesday.

In July, Abdullah and Najib agreed to the transition plan for the Prime Minister to hand over power to him in 2010. The plan was endorsed by the party supreme council later.

Najib is finance minister, Abdullah takes defence

(The Malaysian Insider) In a minor Cabinet reshuffle today, Prime Minister Datuk Seri Abdullah Ahmad Badawi named his deputy Datuk Seri Najib Abdul Razak as finance minister.

Abdullah, who was the finance minister, will take over Najib's defence ministry portfolio. He said he may step down sooner than 2010.

The swap was announced after today's Cabinet meeting.

Najib has also been made deputy chairman of Khazanah Nasional.

Today's announcement comes amid widespread speculation over a transition plan hammered out between the country's top two leaders for Najib to take over power in 2010.

Said Abdullah today:' "The transition is flexible. It is up to me. It will be no later than 2010 but it may be sooner."

Abdullah added that he would also offer himself as a candidate to be Umno president while Najib would stand as deputy president at this year's Umno elections.

Najib, who was also at the press conference, said: "I would like to thank the prime minister for his confidence.

"Giving me this post shows he is magnanimous, it shows his sincerity in picking me as his successor."

Sources said Datuk Seri Nazri Aziz is also expected to be named de facto law minister to replace Datuk Zaid Ibrahim, who quit this week over the Internal Security Act (ISA) arrests of DAP leader Teresa Kok and two others.