August 17, 2021: -On Monday, Malaysia’s Prime Minister Muhyiddin Yassin and his cabinet submitted their resignation to the king, according to a statement by the palace.

The resignation came as Malaysia grapples with its worst Covid-19 outbreak and the economic hit from multiple rounds of lockdowns.

The P.M will remain as a “caretaker” prime minister until a new leader is appointed, said the palace’s statement. In the Malay-language information, CNBC translates, the court added that the king thought an election is “not the best option” now, after the Covid outbreak.

The Malaysian ringgit was at its weakest in over a year against the U.S. dollar on Monday.

Before releasing the palace’s statement, Malaysia’s Minister of Science, Technology and Innovation Khairy Jamaluddin said on his verified Instagram account that the cabinet had submitted its resignation to the king.

Khairy’s post followed local media reports that Muhyiddin would leave from the top job after losing majority support in parliament due to infighting among his political coalition.

In a televised address, Muhyiddin said he resigns because he has lost majority support in parliament. He added that he would not work with “kleptocrats” and interfere with the judiciary process of the country to remain in power.

Muhyiddin said he is in hope for a new government can be formed to ensure that the economic recovery and Covid vaccine rollout continue going on smoothly.

Muhyiddin had governed with a razor-thin majority in the 222-seat parliament.

In the previous weeks, he faced increasing pressure to step down after some lawmakers from the United Malays National Organisation or UMNO, the largest party in the ruling coalition, withdrew their support. Some UMNO politicians, including former Prime Minister Najib Razak, face corruption and money laundering charges.

Muhyiddin claimed that he still commanded majority support in parliament. In September, he said he would prove the legitimacy of his leadership through a confidence vote when parliament reconvenes.