Malaysia's newly-appointed Prime Minister Anwar Ibrahim will announce his cabinet line-up on Friday, state news agency Bernama reported.

The report did not state what time the announcement would be made. Anwar's office did not immediately respond to a request for comment on the timing.

Anwar was sworn in as premier by Malaysia's king last week, after an election that saw no coalition winning a simple majority.

The cabinet announcement comes as Anwar looks to

address

rising costs and a slowing economy, and ensure the stability of his coalition government - formed with lawmakers from former ruling alliance Barisan Nasional, as well as smaller parties from Malaysian states on Borneo island.

He had earlier indicated he would appoint two deputy prime ministers from those key blocs, and that he would have a smaller cabinet than previous administrations.

Investors have cheered his appointment, hoping Anwar would bring stability after political uncertainty that saw three prime ministers in as many years. (Reporting by Rozanna Latiff; Editing by Kanupriya Kapoor and Ed Davies)