KUALA LUMPUR, Feb. 24 (Xinhua) -- Malaysian Prime Minister Mahathir Mohamad announced his resignation on Monday, said his office.

"Mahathir Mohamad had sent a letter of resignation as Prime Minister of Malaysia today," the Prime Minister's Office said in a brief statement, adding that the letter had been submitted to the Malaysian King around noon.

The development comes amid intense speculation that a possible political realignment was being planned, with several political parties, including the opposition, holding meetings on Sunday.

Mahathir returned as Malaysia's Prime Minister after the Pakatan Harapan, or the Alliance of Hope coalition, won the general election in May 2018. He is also the chairman of Parti Pribumi Bersatu Malaysia (PPBM), one of the four component parties of the Pakatan Harapan coalition.

Shortly before the resignation statement, PPBM president Muhyiddin Yassin announced leaving the Pakatan Harapan coalition with the party's supreme council making the decision after a meeting on Feb. 23.

"All members of the House of Representatives of the party are also out of Pakatan Harapan. All of them have signed the oath to continue to support and trust Mahathir Mohamad as Prime Minister of Malaysia," the PPBM president said.

"This decision is made taking into account the current and future political developments of the country," he said.