Latest news with #NaimahKhalid
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
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.
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Naimah to challenge MACC's freezing order on overseas assets
MACC obtained a court order to freeze £132 million or RM758.2 million worth of assets in London belonging to Naimah Khalid and her family. (Bernama pic) PETALING JAYA : Naimah Khalid, the widow of former finance minister Daim Zainuddin, will challenge the court order obtained by the Malaysian Anti-Corruption Commission (MACC) to freeze RM758 million worth of assets abroad linked to her and her family. Naimah claimed that the assets were lawfully acquired and that her lawyers would immediately move to set aside the freezing order, which was granted ex parte. 'I will challenge this order to defend what should never be taken from any of us: our rights, our voice, and a country governed by law, not by fear. 'Let there be no doubt that I will fight this politically motivated, reckless, vindictive and lawless action, through all legal means at my disposal,' she said in a statement today. She argued that no reasonable person would say the order was in accordance with fairness or the rules of natural justice, accusing MACC of obtaining it by ambush. The Kuala Lumpur High Court reportedly granted MACC's application 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. Naimah alleged that the move was part of a 'long and continuous smear campaign' against her family by Prime Minister Anwar Ibrahim and MACC chief commissioner Azam Baki since late 2022. 'No crime of any kind has ever been proven against Daim. No charges were brought in his lifetime, and none after his death,' she said, adding that the Anti-Money Laundering Act cited by MACC required a serious offence to be proven first. She warned that failure to push back against such actions would embolden those in power to act with impunity. 'A line has been crossed. And if we do not resist, there may soon be no lines left at all. Then no Malaysian will be safe from the reach of unchecked power,' she said. Daim was charged in January last year with failing to declare assets to MACC, including interests in 38 companies, 19 land plots in five states, six properties, two unit trust accounts and seven luxury vehicles. MACC said he had asked for five deadline extensions but still failed to comply. After Daim's death on Nov 13 last year, the prosecution withdrew the charges, and the court granted an order discharging and acquitting him. 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.
South China Morning Post
3 days ago
- Business
- South China Morning Post
Malaysia seeks to freeze US$178 million in London assets tied to Daim Zainuddin's widow
Malaysia has launched efforts to freeze assets in London – including bank accounts and prime real estate valued at £132 million (US$178 million) – linked to the widow of the late tycoon Daim Zainuddin , according to anti-graft authorities. The process – which will ultimately need to be executed by authorities in the United Kingdom – is part of a widening embezzlement probe into his family's wealth. Daim, who died last November aged 86, was a key ally of former prime minister Mahathir Mohamad and played a central role in driving Malaysia's economic boom in the 1980s – a period critics say was marked by widespread crony capitalism that benefited Mahathir's inner circle. He was charged alongside his wife, Naimah Khalid, in January 2024 for failure to declare assets – allegations the couple dismissed as a politically motivated attack driven by Prime Minister Anwar Ibrahim , a long-time rival of Mahathir. Former Malaysian finance minister Daim Zainuddin arrives at court in Kuala Lumpur on January 29, 2024, to face charges of failing to declare assets under the MACC Act. Photo: EPA-EFE The charges against Daim were dropped following his death, but the Malaysian Anti-Corruption Commission (MACC) is continuing to probe the assets of his wife and sons.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
MACC freezes over RM750mil in assets linked to Daim's wife, family
The Kuala Lumpur High Court has allowed MACC's application to freeze assets worth RM758.2 million belonging to Naimah Khalid and her family. (Bernama pic) PETALING JAYA : The Malaysian Anti-Corruption Commission (MACC) has obtained a court order to freeze £132 million (RM758.2 million) worth of assets in London belonging to Naimah Khalid, the wife of the late former finance minister Daim Zainuddin, and her family. The assets include two commercial buildings, five luxury residences, and one bank account, Utusan Malaysia reported. Kuala Lumpur High Court judge Justice Azhar Abdul Hamid granted MACC's application to freeze the assets in an ex parte proceeding today. The court order will be sent to UK authorities for enforcement. 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. The commission said the freeze was part of ongoing efforts to trace and recover assets believed to be connected to unlawful activity. MACC chief Azam Baki 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 the receipt of fresh information from foreign agencies. 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.
