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South China Morning Post
21 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
![[UPDATED] MACC targets seized assets in forfeiture bid over Daim's undeclared estate](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fphoto_2025-06-04_14-12-47_1749017773.jpg&w=3840&q=100)
![[UPDATED] MACC targets seized assets in forfeiture bid over Daim's undeclared estate](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
2 days ago
- Business
- New Straits Times
[UPDATED] MACC targets seized assets in forfeiture bid over Daim's undeclared estate
KUALA LUMPUR: The seven properties and one bank account belonging to Toh Puan Na'imah Abdul Khalid and her family, which were seized by the Malaysian Anti-Corruption Commission (MACC) yesterday, are part of the late Tun Daim Zainuddin's RM2 billion estate that the commission is seeking to forfeit over allegations of non-declaration. MACC Chief Commissioner Tan Sri Azam Baki said the commission applied for a restraining order to freeze the overseas assets linked to Na'imah and her family, to prevent the disposal of properties and assets by certain parties. "In this case, we have submitted a court application for a restraining order to freeze the assets located abroad. "We will also continue with further investigations into the seized accounts, as we need to ensure they are not disposed of," he said when contacted today. Sources revealed that the seven properties and one bank account belonging to Tun Daim Zainuddin's wife and her family, are being targeted by MACC for forfeiture due to non-disclosure. These properties are part of the RM2 billion estate belonging to the former finance minister and his family. It is understood that the seized assets are high-value properties identified in the eight new investigation papers recently opened by the MACC. Azam explained that if the restraining order was not obtained, there was a high likelihood that the assets that are believed not to have been declared would be disposed of. When asked if the MACC is eyeing assets in other countries, he said they were looking into it. Yesterday, the MACC obtained a court order to freeze assets worth more than £132 million (about RM758.2 million) belonging to Na'imah in London. The ex-parte order was granted by High Court Judge Datuk Azahar Abdul Hamid after the court was satisfied that the assets were potentially linked to offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. Among the assets are two commercial buildings totalling £55.2 million; five luxury residences totalling £77.115 million and a bank account owned by Ilham Foundation. Deputy public prosecutor Mahadi Abdul Jumaat confirmed this when contacted. Last month, the MACC was reported to be seeking to forfeit several overseas properties belonging to Daim that had not been declared. Azam had said that eight new investigation papers (IP) were opened in the probe into the ownership of the properties, which are worth in excess of RM2 billion. The investigation papers were initiated based on new information received from foreign agencies regarding properties and assets linked to Daim, his family members and proxies. He also said that they were looking into properties and assets abroad that were not disclosed in his previously submitted asset declaration.
Malay Mail
4 days ago
- Business
- Malay Mail
MACC freezes RM758m assets linked to Daim's widow, family in UK
PETALING JAYA, June 3 — The Malaysian Anti-Corruption Commission (MACC) has reportedly obtained a court order to freeze £132 million (RM758.2 million) worth of assets belonging to Toh Puan Na'imah Abdul Khalid, the widow of the late Tun Daim Zainuddin, and her family in the United Kingdom. According to a report in New Straits Times the order was granted by Kuala Lumpur High Court judge Justice Azhar Abdul Hamid in an ex-parte proceeding today. The frozen assets were said to include two commercial buildings valued at £55,200,000, five luxury residences totalling £77,115,000 and a bank account owned by the Ilham Foundation. The order was reportedly issued after the court was satisfied 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. Malay Mail has reached out to Na'imah's lawyer Rajesh Nagarajan for a response. In January last year, Daim claimed trial to a charge of failing to comply with a notice to declare his assets, which included several luxury vehicles, companies, and properties across Kuala Lumpur, Selangor, Pahang, Negeri Sembilan, Perak, and Kedah. In January 2024, Na'imah, 67, was charged in the Sessions Court with failing to comply with a notice to declare her assets, including Menara Ilham and several other properties in Kuala Lumpur and Penang. After Daim's death on November 13 that same year, the prosecution withdrew the charges and the court granted an order discharging and acquitting him.
![[UPDATED] MACC freezes RM758mil in London assets linked to Daim's wife [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FmaccNaimah-030625_NSTfield_image_socialmedia.var_1748926829.jpg&w=3840&q=100)
New Straits Times
4 days ago
- Politics
- New Straits Times
[UPDATED] MACC freezes RM758mil in London assets linked to Daim's wife [WATCH]
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has obtained a court order to freeze assets worth more than £132 million (about RM758.2 million) belonging to Toh Puan Na'imah Abdul Khalid in London. The ex-parte order was granted by High Court Judge Datuk Azahar Abdul Hamid after the court was satisfied that the assets were potentially linked to offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. Among the assets are two commercial buildings totalling £55,200,000; five luxury residences totalling £77,115,000 and a bank account owned by Ilham Foundation. Deputy public prosecutor Mahadi Abdul Jumaat confirmed this when contacted. "We will investigate, and if there is sufficient evidence, we will apply to forfeit all the properties to the government," he said via WhatsApp today. The New Straits Times has reached out to Na'imah's lawyer, Rajesh Nagarajan, for comment. MACC Chief Commissioner Tan Sri Azam Baki reportedly said that eight new investigation papers related to Tun Daim Zainuddin's family have been opened as part of the probe into properties valued at over RM2 billion. He said the commission had been conducting a probe into Daim since February 2023 and had opened several investigation papers, including the latest ones initiated recently. Daim died on Nov 12, last year, at the age of 86. Following his passing, the Kuala Lumpur Sessions Court discharged and acquitted him of charges related to failing to comply with a notice under Section 254 of the Criminal Procedure Code (CPC).
