Malaysia minister resigns

Sun, 03 Jun 2001 | Source: AP

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.

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