“If Tengku Zafrul joins PKR, the announcement will likely be made on Sunday during PKR’s congress,” a source said, adding that the move was not without complications.

“This is not an inconsequential decision. There are a lot of factors to be looked into,” he said.

The source said members from Tengku Zafrul’s camp were finalising negotiations with their PKR counterparts over the matter.

FMT has reached out to Tengku Zafrul’s aide, who declined to comment.

Tengku Zafrul is the investment, trade and industry minister. He is also a member of Umno’s Supreme Council and the party’s Kota Raja division chief.

In March, he quit his post as Selangor Umno treasurer.

Another source close to the matter said Tengku Zafrul is expected to play a bigger role in Selangor’s administration and economic progress.

“The state will benefit from his experience. There is a lot of progress planned for Selangor, and there is a push for him to play a bigger role in the state’s development,” he added.

Tengku Zafrul is best known for his rise in the corporate and financial sector before entering politics.

A former CEO of CIMB Group, he gained national prominence following his appointment as finance minister in Muhyiddin Yassin’s administration in March 2020, a role he retained in Ismail Sabri Yaakob’s Cabinet.

During his tenure, Tengku Zafrul spearheaded Malaysia’s Covid-19 economic stimulus packages, including the Prihatin Rakyat Economic Stimulus Package (Prihatin) and the National Economic Recovery Plan (Penjana).