Malaysia has a new government, and it is pressing the reset button. The second Mahathir Mohamad administration promises a leaner, meaner Cabinet, a rebuild of institutions, and a rethink of the tax and subsidies regime.

The brain trust leading this overhaul is, surprisingly, a group of five former giants now aged 65 to 94. But it is the very presence of eminent figures, like one of the most respected central bankers of her time, Tan Sri Zeti Aziz, and renowned economist Jomo Kwame Sundaram, in a team led by Tun Dr Mahathir's right-hand man, Tun Daim Zainuddin, that has helped the transition to continue calmly since the May 9 shock result.