Latest news with #AMLATFPUAA
Focus Malaysia
6 hours ago
- Business
- Focus Malaysia
MACC targets RM4.5 bil in undeclared Daim assets across five countries
THE Malaysian Anti-Corruption Commission (MACC) has uncovered undeclared assets worth at least RM4.5 bil linked to the late former Finance Minister Tun Daim Zainuddin, his family, and proxies in five countries — the US, Singapore, Japan, Italy, and Jersey (a British island near France). These assets include condominiums, commercial buildings, bank accounts, a hotel in Japan, and a shopping mall in Italy. MACC plans to seek restraining orders to freeze them, with assistance from foreign authorities. 'All of these assets and properties were not declared to MACC during investigations conducted in 2023. Therefore, a restraining order will be sought soon, with help from the relevant countries,' a source said. Earlier, MACC froze seven properties and one bank account in the UK worth RM758.2 million, believed to be owned by Daim's wife, Toh Puan Na'imah Abdul Khalid, and her family. MACC found that the assets are linked to alleged offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. However, on June 23, the Kuala Lumpur High Court temporarily suspended the freezing order after Daim's wife successfully challenged it through her lawyer, Datuk Dr Gurdial Singh Nijar. MACC is also seeking to seize Ilham Tower in Kuala Lumpur and has opened eight investigation papers based on new information from foreign agencies regarding Daim's undeclared assets during the 2023 probe. —June 29, 2025 Main image: Malay Mail
The Star
a day ago
- Business
- The Star
UK authorities join forfeiture bid on Daim's assets
PUTRAJAYA: Steps to forfeit assets belonging to the late finance minister Tun Daim Zainuddin, his family and proxies in the United Kingdom have begun, says the Malaysian Anti-Corruption Commission (MACC). Chief commissioner Tan Sri Azam Baki said the agency had also filed applications for the forfeiture of Ilham Tower yesterday. 'On June 5, we have filed for a restraining order on assets in UK worth RM700mil. We have informed the authorities in the UK and yesterday they informed us they have filed the same to their courts. 'This is a new development where the UK authorities agree with our request in Malaysia and the process will be continued at their courts,' he said this at a press conference here yesterday. 'On the defendant's side they have filed for an intervention and the courts have set July 9 for it. This is for case management and the restraining order application remains. Meanwhile on the forfeiture proceedings of Ilham Tower, he said, it would not be an easy process. 'There is a lot to be done and the documents involved are also quite thick,' he said. Media reports on June 3 stated that three luxury homes in London were among the seven properties and one bank account said to belong to Na'imah and her family, involving a total value of UK£132mil (RM758.2mil), which were frozen by the MACC. MACC investigations found that the movable and immovable assets were linked to alleged offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. Ilham Tower, owned by Daim's family, 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. In an unrelated matter, Azam said that there was no decision made yet on any criminal charges on former prime minister Datuk Seri Ismail Sabri Yaakob. 'All investigation papers have been forwarded to the DPP and we have been told that they have agreed to file for the asset forfeiture on the monies seized, worth around RM170mil, in the coming two weeks. It is up to him to challenge our application. 'Regarding criminal charges, we are awaiting the DPP's decision. I do not know when they will be but I believe a decision will be made within a month,' he said. He added that on their end investigations have been deemed completed. When asked on the role of Ismail Sabri's former son-in-law Datuk Jovian Mandagie in the investigation, he said that he is a witness. On March 3, Azam had disclosed that Ismail Sabri is a suspect in an ongoing corruption and money laundering investigation following the discovery of approximately RM170mil in cash at a safe house during a raid. The cash, held in numerous currencies such as baht, riyal, pound sterling, won, euro, Swiss franc and yuan, was seized alongside 16kg of pure gold bars valued at nearly RM7mil. Additionally, 13 bank accounts containing over RM2mil have been frozen as part of the probe. The investigation focuses on funding sources and expenditures related to promotional and publicity activities during Ismail Sabri's tenure.
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
MACC files forfeiture application for Menara Ilham
KUALA LUMPUR — The Malaysian Anti-Corruption Commission (MACC) has filed a forfeiture application for the Menara Ilham building linked to the late former finance minister, Tun Daim Zainuddin. MACC Chief Commissioner Tan Sri Azam Baki said the 60-storey building is among the latest assets subject to forfeiture proceedings involving Daim, his wife Toh Puan Na'imah Abdul Khalid and several of their local proxies. 'We will initiate the (forfeiture) process today, and I must say, it is not a simple task as there are many steps involved, and the documents (related to Menara Ilham) are extensive. 'In the next one to two weeks, more applications will be filed for properties linked to the individuals concerned,' he said at a press conference at the MACC headquarters here today. Azam also said the MACC has obtained a Restraining Order in Malaysia against assets belonging to Daim and related parties in the United Kingdom, estimated to be worth RM700 million. Following this, UK authorities have been notified and agreed to file a Restraining Order application in UK courts based on Malaysia's request. Earlier this month, the MACC once again seized Menara Ilham after securing permission from the Deputy Public Prosecutor to do so. On Monday, the High Court temporarily suspended an order to freeze seven properties, including three luxury residences in London, and one bank account, allegedly belonging to Na'imah and her family. Previously, the MACC had obtained an ex parte order to freeze the seven properties and one bank account, all of which are valued at £132 million (RM758.2 million), under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. According to the MACC's application, investigations found that the movable and immovable assets were matters or evidence relating to alleged offences under Section 4(1) of the AMLATFPUAA 2001. — BERNAMA
The Sun
4 days ago
- Business
- The Sun
MACC files forfeiture application for Menara Ilham building
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has filed a forfeiture application for the Menara Ilham building linked to the late former finance minister, Tun Daim Zainuddin. MACC Chief Commissioner Tan Sri Azam Baki said the 60-storey building is among the latest assets subject to forfeiture proceedings involving Daim, his wife Toh Puan Na'imah Abdul Khalid and several of their local proxies. 'We will initiate the (forfeiture) process today, and I must say, it is not a simple task as there are many steps involved, and the documents (related to Menara Ilham) are extensive. 'In the next one to two weeks, more applications will be filed for properties linked to the individuals concerned,' he said at a press conference at the MACC headquarters here today. Azam also said the MACC has obtained a Restraining Order in Malaysia against assets belonging to Daim and related parties in the United Kingdom, estimated to be worth RM700 million. Following this, UK authorities have been notified and agreed to file a Restraining Order application in UK courts based on Malaysia's request. Earlier this month, the MACC once again seized Menara Ilham after securing permission from the Deputy Public Prosecutor to do so. On Monday, the High Court temporarily suspended an order to freeze seven properties, including three luxury residences in London, and one bank account, allegedly belonging to Na'imah and her family. Previously, the MACC had obtained an ex parte order to freeze the seven properties and one bank account, all of which are valued at £132 million (RM758.2 million), under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. According to the MACC's application, investigations found that the movable and immovable assets were matters or evidence relating to alleged offences under Section 4(1) of the AMLATFPUAA 2001.
Barnama
4 days ago
- Business
- Barnama
MACC Files Forfeiture Application For Menara Ilham
KUALA LUMPUR, June 25 (Bernama) -- The Malaysian Anti-Corruption Commission (MACC) has filed a forfeiture application for the Menara Ilham building linked to the late former finance minister, Tun Daim Zainuddin. MACC Chief Commissioner Tan Sri Azam Baki said the 60-storey building is among the latest assets subject to forfeiture proceedings involving Daim, his wife Toh Puan Na'imah Abdul Khalid and several of their local proxies. 'We will initiate the (forfeiture) process today, and I must say, it is not a simple task as there are many steps involved, and the documents (related to Menara Ilham) are extensive. 'In the next one to two weeks, more applications will be filed for properties linked to the individuals concerned,' he said at a press conference at the MACC headquarters here today. Azam also said the MACC has obtained a Restraining Order in Malaysia against assets belonging to Daim and related parties in the United Kingdom, estimated to be worth RM700 million. Following this, UK authorities have been notified and agreed to file a Restraining Order application in UK courts based on Malaysia's request. Earlier this month, the MACC once again seized Menara Ilham after securing permission from the Deputy Public Prosecutor to do so. On Monday, the High Court temporarily suspended an order to freeze seven properties, including three luxury residences in London, and one bank account, allegedly belonging to Na'imah and her family. Previously, the MACC had obtained an ex parte order to freeze the seven properties and one bank account, all of which are valued at £132 million (RM758.2 million), under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001.
