David Cameron has announced that he will resign as prime minister by October, after Britons voted in a referendum to leave the European Union.
"I do not think it would be right for me to be the captain that steers our country to its next destination," he told reporters outside his Downing Street office, according to Reuters.
Previously, Cameron had pledged during the campaign to stay on whatever the result.
Meanwhile, the Guardian quoted Cameron as stating that he was proud of his achievements as prime minister.
He said he formed a coalition, delivered a referendum in Scotland and gave the public a referendum on Europe.
Cameron stressed that he fought the referendum with head and heart, but the people decided to follow a different path and therefore needed a new prime minister.
However, he promised to do his best to "steady the ship" before leaving.
Meanwhile, Prime Minister Najib Abdul Razak said the British voters' decision on the Brexit referendum must be respected.
UK voters have spoken. As democrats, we must respect the result. We wish our British friends well in the new future they have chosen
— Mohd Najib Tun Razak (@NajibRazak) June 24, 2016
In a Twitter posting following the outcome, Najib said: "UK voters have spoken. As democrats, we must respect the result."
"We wish our British friends well in the new future they have chosen," he added.
The vote would initiate at least two years of messy divorce proceedings with the EU and raise questions over London's role as a global financial capital.
In the immediate aftermath, the value of the pound plunged to a 30-year low.
The Star Online reported that the historic vote could have numerous implications on Malaysians, who are of one of the biggest investors in UK properties.
The investors include the Employees Provident Fund, Retirement Fund Inc (KWAP) and Armed Forces Fund Board (LTAT).
It also stated that Malaysian investors are involved in a number of property developments in Britain, including the redevelopment of Battersea, and both countries have strong bilateral trade relations.
Meanwhile, Bank Negara said Malaysia’s markets are in position to face any major upheavals as a result of the vote.
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