Malaysia minister resigns

Malaysia minister resigns

KUALA LUMPUR, Malaysia (AP): In a widely expected move,
Malaysia's powerful finance minister has resigned following a
two-month leave of absence, Prime Minister Mahathir Mohamad
announced Saturday.

Daim Zainuddin's future has been the subject of intense
speculation in financial markets since earlier this year, amid
rumors that he had fallen out with Mahathir and would resign from
the Cabinet.

Mahathir told local reporters that Daim officially submitted a
resignation letter to him Friday after the prime minister
returned to Kuala Lumpur from the G-15 summit of developing
nations in Jakarta, Indonesia.

"Two months ago, he asked to resign," Mahathir was quoted as
saying by the national news agency, Bernama. "But I told him to
go on leave first and reconsider his decision."

Daim, who is seen as Malaysia's second-most-powerful man, gave
no reasons for his decision, which was effective immediately.