Report: Daim’s failure to comply led to Ilham Tower seizure

THE Malaysian Anti-Corruption Commission (MACC) has stated that the recent seizure of Ilham Tower in Kuala Lumpur is linked to its probe into corruption and money laundering accusations against former finance minister Tun Dr Daim Zainuddin, reported news portal Utusan Malaysia. However, Daim’s refusal to comply with requests from the MACC to disclose the financial holdings of both himself and his family.

Channel News Asia last week stated Daim received an order from the MACC in late May to declare his financial holdings and other assets belonging to members of his family.
However, Daim rebuffed those demands and had insisted during questioning by the MACC officials that he had nothing to do with the Renong- United Engineers Malaysia Bhd (UEM) deal.
Tun Daim Zainuddin (Photo credit:
According to Utusan Malaysia, MACC chief Tan Sri Azam Baki confirmed the matter but has declined to shed further details on the case.“When we investigate corruption and abuse of power allegations and the case involves immovable assets, we are legally allowed to apply to the deputy public prosecutor (DPP) for seizure of the asset.“That is what happened (in this case). It is under the DPP’s authority that we ordered the land office to put a caveat on the property,” he said.

News reports noted that the seizure is linked to an anti-money laundering investigation that began in late May into a corporate transaction worth RM2.3 bil in November 1997.
Furthermore, the anti-graft agency is looking into Daim’s businesses and how the corporate figure obtained all his assets. Daim has rejected all the accusations. – Dec 24, 2023

Main photo credit: Malay Mail

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