Daim-linked assets probe widens to 6 more countries
This brings the total number of countries associated with Daim's undisclosed assets to 11.
Malaysian Anti-Corruption Commission Chief Commissioner Tan Sri Azam Baki told the New Straits Times"at least" RM4.5 billion in assets linked to the former finance minister had been traced in these countries, including RM758 million in the United Kingdom.
Besides the UK, the other countries are the United States, Switzerland, the British Virgin Islands, the Cayman Islands, Singapore, Jersey (a British Crown protectorate), Japan, Italy, Indonesia as well as an African country, he said.
Azam said the MACC probe had uncovered assets identified in the US that included condominiums, commercial buildings and bank accounts, while assets in Japan involved a chain of hotels.
"The assets identified in Italy involve real estate and shopping centres.
"We have also identified investment assets and bank accounts valued at more than RM540 million in Singapore as well as investment assets and bank accounts valued at over RM1.15 billion in Jersey."
Azam said mutual legal assistance (MLA) proceedings had been initiated under the Mutual Assistance in Criminal Matters Act 2002 (MACMA 2002) for investigation purposes.
"Court applications will be made to obtain restraining orders on the assets.
"The MLA application process has begun. It is a complex international legal procedure."
Azam said MACC was cooperating and would continue to work closely with the authorities in the respective countries to coordinate details, comply with local laws and ensure that asset freezing orders could be enforced.
The NST previously reported that the graft busters were eyeing property and assets linked to Daim in several other countries.
They believe there were also other assets to be identified.
It was also reported that MACC would work with foreign authorities to get more information such as the source of funds and money trail analysis.
It was recently reported that authorities in the UK had agreed to impose a restraining order on assets and properties worth £132 million (RM700 million) belonging to Toh Puan Na'imah Abdul Khalid, Daim's widow.
UK authorities agreed to MACC's request to impose a restraining order on the assets.
MACC requested the assistance of authorities in the UK on June 26 after the graft busters sought to amend certain matters related to the restraining order in court.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
39 minutes ago
- New Straits Times
Compete to keep core US market
LET us be clear: talk of replacing the United States as a core market is not grounded in reality. It is political theatre with no basis in trade math. In 2024, the US imported US$3.35 trillion worth of goods (UN Comtrade 2024). That single market outweighs entire continents - more than the entire Gulf Cooperation Council (US$903 billion), all of Latin America and the Caribbean (US$842 billion) or the whole African continent (US$725 billion). Individually, countries like Brazil (US$277 billion), South Africa (US$123 billion), Egypt (US$86 billion) and Argentina (US$60 billion) may look promising on paper, but even combined, they cannot replicate the demand scale, institutional certainty, or logistics depth of the US. This is not about sentiment. It is about volume, purchasing power, and market depth. The US economy continues to set global standards for high-value consumption. Its supply chains, regulatory systems, and buyer networks are deeply integrated into global trade. For Malaysia, the US remains a critical destination for key exports such as semiconductors, medical devices, palm oil derivatives, solar cells, and automotive components. A hypothetical 10 per cent tariff on Malaysia's electrical and electronics exports could disrupt over RM15 billion in trade and impact more than 200,000 downstream jobs (currently exports of semiconductors and certain electronic components remain tariff-free). To argue that Malaysia can simply pivot away is to ignore the basic geometry of global commerce. You do not abandon the largest buyer on the planet unless you have a larger one to replace it. And there isn't one. Other Countries Are Moving Ahead - Fast While we are debating illusions of economic nationalism, others are making hard deals. The European Union (US$6.86 trillion in imports), the United Kingdom (US$815 billion), Japan (US$742 billion), and South Korea (US$631 billion) have already secured tariff arrangements with the Trump administration (World Bank 2024; WTO Notifications Archive). These markets collectively represent over US$10.2 trillion in import demand and a combined population of 1.19 billion. Crucially, these are high-income nations - with GNI per capita ranging from US$35,000 to nearly US$49,000. This is where premium demand exists for precision electronics, certified halal food, sustainable packaging and advanced green technologies. Malaysia is now on the outside looking in. Our competitors notably Vietnam, Thailand, and Singapore have moved quickly to ensure continued preferential access. Vietnam has signed comprehensive trade deals with both the US and EU. Singapore has executed digital economy agreements with global partners. Indonesia is building strategic economic corridors across the Indo-Pacific. While they are building bridges, we are still arguing about whether the water is too deep. If Malaysia fails to catch up, we will be left out - not because of any bias against us, but because others were faster, clearer, and more committed. This shift is also taking place amid a broader fragmentation of global trade, a bifurcation accelerated by the war in Ukraine, Middle East volatility and rising technology nationalism. In such a divided world, trade access is no longer guaranteed by WTO norms alone. It must be negotiated, secured, and continuously defended. Asean Is Not a Safety Net - It's a Race Even within Asean, Malaysia is no longer the undisputed leader in trade diplomacy or investment attractiveness. Indonesia, Vietnam, the Philippines, and Singapore now account for a combined US$1.2 trillion in imports and a population of 504 million. These countries are strengthening their own regional ecosystems, attracting supply chain relocations and digitising trade processes faster than we are. The notion that Malaysia can fall back on Asean as a captive market is mistaken. Asean is not a safety net. It is a race. The premium export markets of the future will be digital, rules-based, and increasingly green. They will demand clarity on carbon content, labour standards, origin rules, and IP compliance. Countries that meet these standards will get lower tariffs, faster clearance, and better capital flows. Countries that don't will face hidden costs - regulatory delays, border holds, and loss of competitiveness. Malaysia is now at a fork in the road. Either we play at the top end of global trade or we settle for being a volume supplier to second-tier markets with lower returns and higher risk. Conclusion: Either We Are at the Table Or We Are on the Menu This is not the time for romanticism. It is time to look at the numbers and act accordingly. No serious economy can walk away from a US$3.35 trillion market. No government should risk being left behind while others negotiate preferential access to the world's richest consumers. Malaysia must stop imagining substitutes that do not exist and start negotiating harder for access to markets that matter. Trade is strategy. Either we are at the table shaping the rules, or we are on the menu, priced and picked apart by those who did. *The writer is an economist, adjunct lecturer at Universiti Teknologi Petronas, international relations analyst and a senior consultant with Global Asia Consulting. The views expressed in this op-ed are entirely his own.
New Straits Times
39 minutes ago
- New Straits Times
Scripted deception: How scammers 'coached' doctor into RM8.7mil loss
JOHOR BARU: The RM8.7 million that vanished from a doctor's savings did not disappear in a single swoop — it was drained through 252 transfers over 90 days, in a calculated sequence that slipped under the regulatory radar. Banking insiders said that the syndicate behind the high-return investment scam probably coached the 53-year-old victim into structuring her transactions in a way that dodged red flags in the banking system. A source familiar with commercial bank fraud procedures told the New Straits Times that the scam appeared to rely on a common tactic. "It is very likely the doctor was told to break large amounts into smaller, seemingly routine transfers made over time to multiple mule accounts. "If each transfer is RM20,000 to RM30,000 and made a few times a day to different accounts, it can bypass most automated detection tools," the banker said. "When the customer is the one initiating and authorising the transfers, especially when spread over 60 to 90 days, the system assumes she knows what she's doing. "We rely on algorithmic triggers. If a customer walks willingly into a scam, the system may never catch it," the source said, adding that returns above 15 to 20 per cent annually are a red flag. The NST reported that a 53-year-old doctor lost RM8.7 million of her savings in an online investment scam. Between May and July, the victim was persuaded to transfer the RM8.7 million into accounts controlled by the syndicate. Johor Baru (South) deputy police chief Superintendent Azrul Hisham Mohd Shaffei said the scam began with an investment pitch that promised returns of up to 520 per cent. The fraudsters had even paid out a small initial "profit" to establish trust. The NST tried to contact the doctor, but she did not respond. However, it learnt that the bulk of the RM8.7 million was moved in stages. Over three months, the victim was coaxed into moving her life savings through staggered transactions designed to avoid banking red flags. In May, she made two daily transfers of RM25,000 each over 26 days, amounting to RM1.3 million. In June, she made three daily transfers of RM30,000 over 28 days, totalling RM2.52 million. In July, she made 140 transfers, averaging RM34,857, resulting in RM4.88 million being drained. The structuring allowed the RM8.7 million to slip beneath the banking system's detection thresholds. The banker said that by spreading out the transactions and keeping them under critical thresholds, the scammers mimicked legitimate investment activity. Under Malaysia's anti-money laundering compliance framework, banks are required to monitor and report suspicious transactions. However, when the victim is an active participant, the effectiveness of the detection system is limited. "If there's no sudden spike, no blacklisted accounts involved, and the sender shows no distress, then even RM8.7 million can move silently," the source said It is believed the scammers also used multiple mule bank accounts, including new or "clean" ones with no prior suspicious activity, to avoid triggering alerts. A police source told the NST that the victim was still coming to terms with the financial and emotional blow. "They didn't just steal her money; they broke her, one transfer at a time," the source said The doctor was lured by the legitimate-looking online investment advertisement in April. They often include a clause stating that profit margins will be disclosed only after direct contact, allegedly to "comply" with government or banking regulations. This made the investment scheme appear legitimate while maintaining control over the victim. "The ads on social media, complete with fake testimonials, rarely advertise sky-high returns, which might seem too good to be true. "Instead, they include a clause stating that the profit schedule is accessible only after direct contact. "They would claim that the profit scheme had to be shared personally with investors to comply with banking or government regulations, which led to false legitimacy while tightening their grip on the victim," the source said. The trap snapped shut the moment the victim made the call. The smooth-talking scammers almost always reeled in their victims from there. The doctor was told the scheme offered total returns of up to 520 per cent — meaning every RM1 invested would give her RM5.20, a profit of RM4.20. A minimum investment was required to access that rate. She was cautious but curious. She spoke to the so-called agent rather than relying on text messages. She requested a face-to-face meeting, but was told the company was based overseas. She tested the waters with a RM1,160 investment. Within a week, RM6,033 landed in her account. It was the bait she didn't realise she had taken. The NST was told that the scammer had shown the doctor charts, fake profits and testimonials, which made everything look legitimate. When she received the RM6,033 profit, she fell for the scam and made bigger investments. From May to July, she was persuaded to make dozens of transfers to multiple bank accounts under the syndicate's control. But when she attempted to withdraw what she believed were her gains, the portal stalled. Then came a new demand to pay another RM500,000 as deposit fees or risk having her account frozen. By then, she realised she had been scammed. Scams and 'willing' victims JOHOR BARU: Despite advanced fraud monitoring systems, many scams, particularly those involving 'willing' victims, slip past undetected. The tactics commonly used by the scammers. LOW-VALUE, HIGH-FREQUENCY TRANSFERS Scammers instruct victims to send money in small sums, often below RM30,000, to avoid hitting high-risk thresholds set by banks. USE OF 'CLEAN' MULE ACCOUNTS Funds are directed to new or unflagged bank accounts, making them harder for banking systems to identify as suspicious. STAGGERED TRANSACTIONS Money is transferred over days or weeks, not all at once. This method mimics ordinary investment or business behaviour. VICTIM-LED INITIATION When customers log in and completes the transfer, without complaints or distress signals, banks treat the transaction as legitimate. Syndicates provide victims with fake investment platforms, contracts or profit dashboards to boost credibility and suppress doubt.
Borneo Post
2 hours ago
- Borneo Post
Sg Kajah Land Committee again cries foul over alleged logging on NCR land
A photo allegedly showing several longhouse chiefs accompanying logging company representatives to the field on July 14. — Photo from Kujat Dudang KANOWIT (Aug 4): The Sungai Kajah Land Committee (SKLC) again raised concerns over ongoing logging activities allegedly taking place on gazetted Native Customary Rights (NCR) land under their stewardship despite repeated complaints lodged with the relevant authorities. Its chairman Kujat Dudang said the activity, which began in mid-2021, was being carried out under the guise of a Licence for Planted Forests (LPF) issued over Block 1 Lot 8 of the Sepali Land District. 'The issuance and continuation of this LPF clearly contravenes Section 65(3) of the Sarawak Forestry Ordinance and Section 5(3) of the Sarawak Land Code (1958), both of which prohibit commercial activities on gazetted NCR land without proper consultation and consent,' Kujat said in a statement yesterday. He explained that the land in question was surveyed and recognised under Section 6 of the Sarawak Land Code (Amendment) 2018 prior to the LPF's issuance. 'Despite this, the Forest Department Sarawak (FDS) approved the LPF licence, raising serious legal, ethical, and governance concerns,' he added. Kujat also claimed that although multiple police reports had been lodged, no enforcement action had been taken to date. In addition, SKLC has submitted a complaint to the Malaysian Anti-Corruption Commission (MACC), backed by photographs and witness testimonies. The complaint alleged that certain longhouse chiefs were receiving monthly allowances and commission-based payments from the licence holder to influence villagers into allowing logging on NCR land. 'This blatant conflict of interest undermines community leadership and deceives landowners into giving consent under false pretences,' Kujat said. He stressed that the continued extraction of timber has caused environmental degradation, including deforestation, water pollution, and biodiversity loss — posing threats to the ecosystem, food security, and cultural heritage of the Iban community in Sungai Kajah. In a statement on April 21, the FDS said it was 'awaiting confirmation of NCR land status' on the matter. However, Kujat pointed out that this contradicted an earlier statement from the state Land and Survey Department (LSD), which stated that LPF licenses should not be issued over gazetted NCR land. 'In light of these issues, the SKLC is calling for immediate action from the FDS to revoke the LPF license issued over the gazetted NCR land, LSD to publicly reaffirm the Section 6 NCR status and enforce its protection, MACC and the Royal Malaysia Police to investigate corruption allegations involving the licencee and implicated longhouse chiefs, the federal Ministry of Natural Resources and Environmental Sustainability to uphold environmental laws and indigenous land rights and the Premier of Sarawak's Office to ensure that development does not override legally recognised customary rights,' he said. Kujat emphasised that the people of Sungai Kajah were not against development but urged that it be carried out transparently and lawfully. 'The government must not allow large corporations to continue exploiting our forests with impunity, nor should grassroots voices be ignored.' Photographic evidence allegedly showing several longhouse chiefs accompanying logging company representatives to the field on July 14 has been submitted as part of the MACC complaint. The individuals involved are reportedly under investigation, according to SKLC. 'This is not just a protest. It is a plea for justice and a call for the rule of law to be upheld,' Kujat concluded.
