[UPDATED] MACC seeks forfeiture of RM3b assets linked to Daim, family

New Straits Times

11-07-2025

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) is moving to seize and forfeit more than RM3 billion worth of assets allegedly linked to the late Tun Daim Zainuddin, his widow Toh Puan Na'imah Khalid, their family members, and close associates.
In a statement today, the commission said its Special Operations Division had identified ownership of high-value assets in 11 countries.
These countries include the United Kingdom, United States, Switzerland, Singapore, British Virgin Islands, Cayman Islands, Jersey, Italy, Japan, Indonesia, and several African nations.
The investigation was carried out in cooperation with enforcement agencies in the United Kingdom, namely the National Crime Agency (NCA) and the International Anti-Corruption Coordination Centre (IACCC).
So far, a restraining order was issued by the Kuala Lumpur High Court on June 3, under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA), involving seven assets in the UK valued at RM758 million.
"An application for Mutual Legal Assistance (MLA) is currently being processed with the UK authorities via the Attorney General's Chambers.
Further coordination with the IACCC is ongoing to ensure effective enforcement," MACC said.
The commission also filed similar restraining orders through the Kuala Lumpur High Court on June 19 for assets in Jersey and Singapore. The hearings took place on June 23 and 25.
The assets in question include four bank and investment accounts in Jersey worth RM1.15 billion, and 12 accounts in Singapore amounting to RM540 million.
MACC said additional requests for information on assets located in the United States, Switzerland, the British Virgin Islands, Cayman Islands, Italy, and Japan are being pursued with the assistance of Bank Negara Malaysia, the IACCC, and MLA applications.
Locally, the commission confirmed that it seized Ilham Tower in Kuala Lumpur on June 5, following a court order issued a day earlier.
A forfeiture application without prosecution was filed on June 25 under Section 56 of the AMLATFPUAA.
As part of the ongoing probe, MACC recorded statements from Na'imah and her son, Muhammed Amir Zainuddin Daim, on June 14 regarding undeclared high-value assets.The commission plans to obtain a statement from their second son, Muhammed Amin Zainuddin Daim, who is currently residing in the UK.
"All three individuals are key shareholders of Ilham Baru Sdn Bhd, which owns a majority stake in Ilham Tower Sdn Bhd.
They have been identified as beneficial owners of Ilham Tower," the commission said.
In line with Section 36(1) of the MACC Act 2009, the commission said it began issuing notices on July 10 to 22 individuals identified as close relatives and associates of Daim and Na'imah, requiring them to declare their assets for verification.