Malaysian King Sultan Muhammad V has abdicated in an unexpected move after just two years on the throne.

Key points: Sultan Muhammad V was one of Malaysia's youngest monarchs

Sultan Muhammad V was one of Malaysia's youngest monarchs He is said to have married a former Russian beauty queen in November

He is said to have married a former Russian beauty queen in November There has been no official confirmation of the wedding

The palace said in a statement that the 49-year-old ruler had resigned as Malaysia's 15th king with immediate effect, cutting short his five-year term.

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It is the first abdication in the nation's history and no reason was given in the statement.

Sultan Muhammad V, ruler of north-east Kelantan state, took his oath of office in December 2016, becoming one of Malaysia's youngest constitutional monarchs.

He is said to have married a 25-year-old former Russian beauty queen in November while on a two-month medical leave.

Reports in Russian and British media, as well as on social media, featured pictures of the wedding, which reportedly took place in Moscow.

Neither the sultan, the palace, nor the Government had officially confirmed the wedding.

Speculation that Sultan Muhammad V would step down emerged this past week shortly after he returned from his leave, but Prime Minister Mahathir Mohamad said on Friday that he was unaware of any abdication plans.

Malaysia has nine royal households, who typically take turns to sit on the throne, and the selection of the next king is decided by a vote in the Council of Rulers.

The palace statement said the king was grateful for the opportunity given to him by the council and thanked the Prime Minister and Government for their cooperation during his rule.

"His Highness has worked towards fulfilling his responsibilities entrusted to him as the head of state, serving as a pillar of stability, source of justice, the core of unity … for the people," the palace statement said.

Incident fuelled racial tensions

The New Straits Times reported there had been tensions between the palace and the Government of Dr Mahathir, who led the opposition to an election win in May.

Dr Mahathir, known for challenging royalty during a previous 22-year tenure as prime minister, said in a blog post last week that everyone "from the rulers to the prime minister and ministers, to the civil servants and ordinary citizens" are subject to the law — he did not elaborate.

In June, the Government and palace faced a near two-week impasse over a plan to appoint a non-Malay as attorney-general.

The king eventually approved the appointment, though the incident had fuelled racial tensions.

The Council of Rulers is expected to meet soon to pick the next king.

The monarch's role is largely ceremonial, since administrative power is vested in the Prime Minister and Parliament.

However, the monarch is highly regarded, particularly among the ethnic Malay Muslim majority, as the supreme upholder of Malay tradition.

The 49-year-old king has resigned with immediate effect, cutting short his five-year term without giving any reasons. ( AP: Yam G-Jun )

AP/Reuters