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New Straits Times
25-06-2025
- Business
- New Straits Times
UK to restrain £132mil assets linked to Daim's wife
PUTRAJAYA: Authorities in the UK have agreed to impose a restraining order on assets and properties worth £132 million (RM700 million) belonging to Toh Puan Na'imah Abdul Khalid, the wife of former finance minister Tun Daim Zainuddin. Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki revealed this at a press conference today. He said UK authorities have agreed to MACC's request to impose a restraining order on the assets. "We received their (UK authorities') agreement yesterday on filing the restraining order," Azam said. Azam told a press conference that MACC requested the assistance of authorities in the UK on June 26 after the graft busters sought to amend certain matters related to the restraining order in court. "Following that, we informed the UK authorities, and yesterday we were notified that they also filed the order in the UK. "This marks a new development where they agreed with MACC's restraining order application, and the case will proceed in the UK," he said. On Monday, the Kuala Lumpur High Court suspended its earlier order to freeze the assets, with Judge Datuk Azhar Abdul Hamid staying his earlier ruling that granted the ex-parte order to the MACC. Azhar also set July 9 to hear Na'imah's application to intervene in the case. Commenting on the interim suspension, Azam said MACC is awaiting the hearing of seven parties, including Ilham Foundation, which applied to intervene on July 9. However, he said that as of now, the asset freeze remains in effect and has not been suspended. "Perhaps the news reports were not entirely accurate. I've been informed that the court has set July 9 for a hearing for interveners because previously, no interveners were included. "Now that there are interveners, the court will need to decide on case management," he said. He also confirmed that MACC will inform UK authorities of any new developments related to upcoming court decisions. The MACC had applied to freeze the assets, claiming they were potentially linked to offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act. Among the assets are two commercial buildings totalling £55.2 million; five luxury residences totalling £77.12 million, and a bank account owned by Ilham Foundation.
Free Malaysia Today
23-06-2025
- Business
- Free Malaysia Today
Court stays order to freeze RM758.2mil assets linked to Daim's widow
Naimah Khalid, the widow of former finance minister Daim Zainuddin, is also seeking to intervene in another MACC application to freeze assets in Singapore. (Bernama pic) KUALA LUMPUR : The High Court here has stayed its earlier ex parte order to freeze assets in London worth £132 million (about RM758.2 million) belonging to Naimah Khalid and her family. Justice Azhar Abdul Hamid will hear the application by the widow of former finance minister Daim Zainuddin to intervene in that case on July 9. The Malaysian Anti-Corruption Commission had applied to freeze the assets, claiming they were potentially linked to offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The London assets include two commercial buildings worth £55.2 million, five luxury residences valued at £77.1 million, and a bank account held under the Ilham Foundation. A separate court also fixed Aug 1 to hear Naimah's application to intervene in MACC's ex parte bid to freeze over RM544 million worth of investment funds belonging to her, her family and associates in Singapore. Justice K Muniandy set the date after hearing submissions from deputy public prosecutor Mahadi Abdul Jumaat and Naimah's counsel, senior lawyer Gurdial Singh. Mahadi told the court that MACC sought to freeze 12 investment accounts believed to contain funds derived from Malaysian sources that were never declared to local authorities. 'The total of these movable assets is over RM544 million or RM544,674,050.97, to be exact. They are in US dollars and pounds sterling. 'These assets have to be blocked to prevent the risk of them being disposed of,' Mahadi said. However, Gurdial said that such an order must not be issued without allowing those affected to be heard. 'If you are going to prohibit that person, then the person must be involved to respond, to say whether or not that prohibitory order could or should be made, and whether there is a basis for the making of that order. 'Otherwise, it is a breach of natural justice because you are not giving them a chance to be heard with regard to their property, and this is not a small amount of assets. It's worth over RM544 million,' he said. Naimah, who is currently facing an asset declaration charge, is accused of failing to declare her ownership in various companies, several plots of land here and in Penang, and two vehicles.
Malay Mail
23-06-2025
- Business
- Malay Mail
High Court grants stay on £132 million asset freeze for widow of late Daim Zainuddin, pending further hearings
KUALA LUMPUR, June 23 — The High Court today allowed an application by Toh Puan Na'imah Abdul Khalid, the widow of the late Tun Daim Zainuddin, for a stay of its ex-parte order to freeze assets belonging to her and her family worth £132 million in London by the Malaysian Anti-Corruption Commission (MACC). The assets comprise two commercial buildings located at St Mary Axe and One Crown Court; three luxury residences at Bryanston Square, Bryanston Mews and Lancaster Gate; two residential units in Gloucester Place; and a bank account at CAF Bank Limited (UK), allegedly held under The Ilham Foundation. Judge Datuk Azhar Abdul Hamid granted the stay after allowing Na'imah's application, who was represented by counsel Datuk Dr Gurdial Singh Nijar. The court fixed July 9 to hear Na'imah's application to intervene in the main proceedings relating to the freezing of the assets. On June 3, the same court had allowed the MACC's ex-parte application to freeze the said assets under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001). In a separate High Court today, Judge K. Muniandy fixed August 1 to hear Na'imah's application to intervene in MACC's separate ex-parte application to freeze 12 investment accounts in Singapore, allegedly owned by Na'imah, her family and associates, with a total value over RM544 million. Earlier, Deputy Public Prosecutor Wan Nur Iman Wan Mohd Afzal requested the court to allow MACC's ex-parte application to freeze the said assets, following findings that the assets had not been declared. 'The total value of these movable assets exceeds RM544 million, consisting of investments in USD and pound sterling. Therefore, we request that this application be heard, and these assets be frozen to prevent the risk of disposal,' she said. On May 22, MACC Chief Commissioner Tan Sri Azam Baki said eight investigation papers were opened based on new information received from external agencies regarding the assets owned by Daim, his family and proxies. Azam said the latest information indicated that the assets owned by Daim, his family and associates were not declared to MACC during the 2023 investigation. — Bernama
South China Morning Post
06-06-2025
- 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
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New Straits Times
05-06-2025
- 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.
