Latest news with #DaimZainuddin

MACC moves to forfeit Daim-linked Menara Ilham

New Straits Times

4 hours ago

Business
New Straits Times

MACC moves to forfeit Daim-linked Menara Ilham

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) will apply for the forfeiture of Menara Ilham, a building owned by the family of former finance minister Tun Daim Zainuddin. This follows the MACC receiving authorisation from the deputy public prosecutor to seize the building on Jalan Binjai for a second time. MACC Chief Commissioner Tan Sri Azam Baki said the forfeiture would be carried out under Section 55 or Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. "We have already submitted an application under Section 51 of AMLATFPUAA (to seize the tower), and the next step will be to file an application under Section 56 or 55 of the same Act to forfeit the asset (Ilham Tower)," he said when contacted. Section 55 allows for the forfeiture of property following a conviction, while Section 56 provides for civil forfeiture without the need for prosecution or conviction. Commenting on the second seizure of Menara Ilham, Azam said it involved two different legal provisions. "Previously (the December 2023 seizure) was carried out under the MACC Act, while this time it involves the AMLATFPUAA," he said. Yesterday, the MACC announced that the seizure prohibits all dealings involving the transfer of ownership of the property. Ilham Tower, located in downtown Kuala Lumpur near the Petronas Twin Towers, houses a four-star hotel, office spaces, a gallery, and other facilities. This is not the first time the MACC has seized the 60-storey tower. In December 2023, the MACC invoked its powers to take control of the 274-metre-tall skyscraper, estimated to be worth between RM1.5 billion and RM2 billion. Sources said the tower was seized for 18 months, the longest duration granted to the MACC to date. The move was understood to be part of an investigation into a corporate transaction valued at RM2.3 billion involving publicly listed Renong Bhd and United Engineers Malaysia Bhd.

Malaysia's anti-corruption agency ‘vindictive' in pursuit of Daim's estate, widow says

South China Morning Post

7 hours ago

Business
South China Morning Post

Malaysia's anti-corruption agency ‘vindictive' in pursuit of Daim's estate, widow says

The widow of Malaysian tycoon and former politician Daim Zainuddin has hit back at the country's anti-corruption agency, accusing it of being 'vindictive' by continuing to seize assets from his estate in both Malaysia and the United Kingdom despite no criminal conviction. On Thursday, the Malaysian Anti-Corruption Commission (MACC) took control of Daim's 58-storey Ilham Tower in Kuala Lumpur, alleging that it was tied to offences under the anti-money-laundering law. This is despite the commission having already taken the same action in 2023, a move that the family's lawyers said amounted to 'harassment'. 'This is vindictive, unlawful and a blatant abuse of power by MACC. This is contrary to the rule of law; it is the law of the jungle,' lawyers Rajesh Nagarajan and Sachpreetraj Singh Sohanpal said in a statement on the day of the seizure. A day before, a Malaysian court authorised the MACC to start proceedings in the UK to recover assets worth £132 million (US$179 million), including two commercial buildings, three luxury homes, two residential units and a bank account held by the Daim family-linked Ilham Foundation. Naimah Khalid (centre) entering the MACC's headquarters in Putrajaya in January last year. Photo: The Star

Daim's widow to challenge Ilham Tower seizure in court

Free Malaysia Today

21 hours ago

Business
Free Malaysia Today

Daim's widow to challenge Ilham Tower seizure in court

Ilham Tower belongs to former finance minister, the late Daim Zainuddin, and his family. (Website pic) PETALING JAYA : The widow of the late former finance minister Daim Zainuddin will challenge the seizure of Ilham Tower in court. In a statement, Rajesh Nagarajan and Sachpreetraj Singh Sohanpal, who are acting on behalf of Naimah Khalid, said the Malaysian Anti-Corruption Commission's (MACC) repeated seizure of the Kuala Lumpur city centre landmark was 'pure harassment'. 'This is vindictive, unlawful and a blatant abuse of power by MACC. This is contrary to the rule of law; it is the law of the jungle,' they said. This is the anti-graft agency's second time seizing the tower on Jalan Binjai after making a similar move on Dec 21, 2023. In a strongly worded statement, the lawyers pointed out that MACC had already seized Ilham Tower previously, raising doubts over the justification for taking the same action again. Questioning whether MACC was 'playing musical chairs with the law', they stressed that no corruption charges have been brought against Daim despite repeated allegations and insinuations by both Prime Minister Anwar Ibrahim and MACC chief commissioner Azam Baki. 'Having failed to produce any charges, they are now targeting our client with yet another seizure,' they said. 'They want to keep seizing our client's property even though there's no evidence of corruption. 'We will, on behalf of our client, challenge the seizure of Ilham Tower in court immediately.' Azam previously said the commission was considering seizing over RM2 billion in undeclared assets linked to Daim, his family and proxies. Eight new investigation papers were opened after receiving fresh information from foreign agencies. On Tuesday, MACC said it had obtained a court order to freeze £132 million (RM758.2 million) worth of assets in London belonging to Naimah and her family. The assets include two commercial buildings, five luxury residences and one bank account, Utusan Malaysia reported. According to MACC, investigations revealed that the assets were linked to suspected offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. In January last year, Daim claimed trial to a charge of failing to comply with the terms of an asset declaration notice issued by MACC. He was accused of not disclosing his ownership of 38 companies, 19 land plots in five states, six properties, two unit trust accounts and seven luxury cars. MACC said he had asked for five deadline extensions but still failed to comply. Naimah also faces an asset declaration charge. She is accused of failing to declare her ownership in various companies, several plots of land here and in Penang, and two vehicles. After Daim's death on Nov 13 last year, the prosecution withdrew the charges and the court granted an order discharging and acquitting him.

Lawyers for Daim's widow to challenge MACC's seizure of Ilham Tower in court

The Star

a day ago

Business
The Star

Lawyers for Daim's widow to challenge MACC's seizure of Ilham Tower in court

PETALING JAYA: Lawyers acting for the late Tun Daim Zainuddin's wife Na'imah Abdul Khalid will be challenging the seizure of Ilham Tower in court immediately. In a statement Thursday (June 5), lawyers Rajesh Nagarajan and Sachpreetraj Singh Sohanpal described the action by the Malaysian Anti-Corruption Commission (MACC) as contrary to the rule of law. ALSO READ: MACC seizes Ilham Tower again 'This is vindictive, unlawful, and a blatant abuse of power by the MACC. This is also the most ridiculous action yet taken by the MACC. 'The repeated seizure of Ilham Tower is pure harassment as it is yet another example of the MACC operating by the law of the jungle. 'In short, they want to keep seizing our client's property even though there's no evidence of corruption,' they said. The lawyers added that despite repeated allegations against Daim, no offence of corruption has been proven against Daim. ALSO READ: MACC gets nod to freeze assets of Daim's wife Earlier, the Deputy Public Prosecutor's office gave the MACC the go-ahead to seize Ilham Tower – owned by Daim's family – for a second time. MACC said it had since ordered the immediate seizure of the 60-storey skyscraper under Section 51(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla). ALSO READ: Daim's Ilham Tower seized by MACC Ilham Tower was first seized by MACC in December 2023 in its anti-money laundering probe involving a corporate transaction of RM2.3bil (US$500mil) in November 1997 involving public-listed Renong Bhd and United Engineers Malaysia Bhd (UEM), both linked to Umno. On May 22, MACC chief commissioner Tan Sri Azam Baki said that eight investigation papers had been opened into the assets owned by Daim, his family and proxies, which had not been declared to the MACC during its initial 2023 investigation. On Wednesday (June 4), the High Court allowed an application by MACC to freeze assets worth £132mil in London allegedly linked to Na'imah and her family.

MACC gets approval to seize Daim's Ilham Tower again

Malaysiakini