He is the second sibling of the former prime minister to announce their resignations from a top post today.

According to The Star, Nizam is leaving to pursue other business ventures.

He owns 29.25 million shares in Petra Energy, which is an integrated brown field services provider for the upstream oil and gas industry.

Earlier this evening, Nazir Razak announced that he would step down as the CIMB chairman on Dec 31 after serving the group for 29 years.

In an Instagram post, Nazir said he was going to commit fully to a “mission on the Asean stage.”

While he did not elaborate on his Asean mission, Bloomberg had in 2017 reported that he was helping to start a regional private equity fund that would seek as much as US$1 billion.