9 hours ago
MACC To Forfeit Ilham Tower, UK Approves Seizure Of Daim Family Assets
The Malaysian Anti-Corruption Commission (MACC) is pursuing a forfeiture application involving assets of the late Tun Daim Zainuddin and his family, including Ilham Tower in Kuala Lumpur and high-value properties in the United Kingdom.
According to MACC Chief Commissioner Tan Sri Azam Baki, the UK authorities approved a restraining order on June 24 following a grant on June 5, allowing the commission to proceed with legal actions involving Daim-linked assets abroad. A case management hearing is scheduled for July 9.
The move to seize Ilham Tower follows earlier actions under the Anti-Money Laundering Act in December 2023. The forfeiture application will be filed under Section 55 or 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA).
The UK properties, reportedly worth £132 million (approximately RM758 million), are said to include luxury residences and commercial real estate linked to Daim's widow, Toh Puan Na'imah Abdul Khalid.
These actions are part of MACC's ongoing investigations sparked by the Pandora Papers and allegations of over RM2 billion in undeclared assets. The commission stated that forfeiture efforts operate independently of criminal prosecution, with the agency prioritising public interest and asset recovery.
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