Latest news with #RM758
Sinar Daily
11-07-2025
- Business
- Sinar Daily
Tun Daim's case: MACC identifies assets worth over RM3 billion in 11 countries
KUALA LUMPUR - The Malaysian Anti-Corruption Commission (MACC) has identified assets worth over RM3 billion in 11 countries linked to the late Tun Daim Zainuddin, his wife Toh Puan Na'imah Khalid, his family members and networks of associates. The commission said that its Special Operations Division was conducting investigations and enforcement focused on seizing and forfeiting the extraordinary assets. "The 11 countries are the United Kingdom (UK), the United States (US), Switzerland, Singapore, the British Virgin Islands, the Cayman Islands, Jersey, Italy, Japan, Indonesia and several countries in the African continent, with an estimated value of over RM3 billion,' it said in a statement today, adding that the investigation was conducted with strategic cooperation with several enforcement agencies in the UK, including the National Crime Agency (NCA) and the International Anti-Corruption Coordination Centre (IACCC). The commission has also obtained a freeze asset order from the Kuala Lumpur High Court on June 3 against seven fixed and liquid assets worth an estimated RM758 million in the UK under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. "An application of Mutual Legal Assistance (MLA) to the UK authorities is being processed through the Attorney-General's Chambers (AGC) while further discussions with the IACCC is being coordinated to ensure enforcement action is taken systemically and effectively,' the commission said. In addition, the MACC also revealed that freeze asset orders have been filed against assets in Singapore and Jersey at the Kuala Lumpur High Court on June 19, with the hearings taking place on June 23 and 25. "Assets involved include four bank and investment accounts worth RM1.15 billion in Jersey while in Singapore, 12 bank and investment accounts worth RM540 million are involved,' the MACC added. Requests for further information regarding assets in countries such as the US, Switzerland, British Virgin Islands, Cayman Islands, Italy and Japan are being submitted through collaboration with Bank Negara Malaysia (BNM), IACCC and MLA applications through AGC, to enable asset seizure and forfeiture actions to be carried out legally and comprehensively, the commission shared. "Domestically, the MACC has obtained an order to seize Menara Ilham on June 4, which was carried out the day after. Application to forfeit without prosecution under Section 56 of the AMLATFPUAA 2001 was filed at the Kuala Lumpur High Court on June 25,' the commission said, adding that statements from Na'imah and her son, Muhammed Amir Zainuddin Daim regarding the ownership of undeclared extraordinary assets were recorded on June 14. "Consequently, statements will be taken from the second child, Muhammed Amin Zainuddin Daim, who is currently in the UK. All three individuals are the main shareholders of Ilham Baru Sdn Bhd, the company with majority shares in Ilham Tower Sdn Bhd and identified as the beneficial owner of Menara Ilham,' it said. In line with Section 36(1) of the MACC Act 2009, a notice of asset declaration was handed to 22 individuals identified as relatives or close associates of Diam and Na'imah since yesterday for the purpose of identifying and confirming asset ownership. The MACC stressed that all actions taken were part of the commission's functions and role to ensure there was no element of corruption, embezzlement and abuse of power in the management of the country's wealth. "The MACC is committed to carrying out its investigation independently, transparently and based on law, without any interference or political interest,' it added. - BERNAMA
The Sun
11-07-2025
- Business
- The Sun
MACC tracks RM3 billion assets linked to Tun Daim in 11 countries
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has identified assets worth over RM3 billion in 11 countries linked to the late Tun Daim Zainuddin, his wife Toh Puan Na'imah Khalid, his family members and networks of associates. The commission said that its Special Operations Division was conducting investigations and enforcement forcused on seizing and forfeiting the extraordinary assets. 'The 11 countries are the United Kingdom (UK), the United States (US), Switzerland, Singapore, the British Virgin Islands, the Cayman Islands, Jersey, Italy, Japan, Indonesia and several countries in the African continent, with an estimated value of over RM3 billion,' it said in a statement today, adding that the investigation was conducted with strategic cooperation with several enforcement agencies in the UK, including the National Crime Agency (NCA) and the International Anti-Corruption Coordination Centre (IACCC). The commission has also obtained a freeze asset order from the Kuala Lumpur High Court on June 3 against seven fixed and liquid assets worth an estimated RM758 million in the UK under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. 'An application of Mutual Legal Assistance (MLA) to the UK authorities is being processed through the Attorney-General's Chambers (AGC) while further discussions with the IACCC is being coordinated to ensure enforcement action is taken systemically and effectively,' the commission said. In addition, the MACC also revealed that freeze asset orders have been filed against assets in Singapore and Jersey at the Kuala Lumpur High Court on June 19, with the hearings taking place on June 23 and 25. 'Assets involved include four bank and investment accounts worth RM1.15 billion in Jersey while in Singapore, 12 bank and investment accounts worth RM540 million are involved,' the MACC added. Requests for further information regarding assets in countries such as the US, Switzerland, British Virgin Islands, Cayman Islands, Italy and Japan are being submitted through collaboration with Bank Negara Malaysia (BNM), IACCC and MLA applications through AGC, to enable asset seizure and forfeiture actions to be carried out legally and comprehensively, the commission shared. 'Domestically, the MACC has obtained an order to seize Menara Ilham on June 4, which was carried out the day after. Application to forfeit without prosecution under Section 56 of the AMLATFPUAA 2001 was filed at the Kuala Lumpur High Court on June 25,' the commission said, adding that statements from Na'imah and her son, Muhammed Amir Zainuddin Daim regarding the ownership of undeclared extraordinary assets were recorded on June 14. 'Consequently, statements will be taken from the second child, Muhammed Amin Zainuddin Daim, who is currently in the UK. All three individuals are the main shareholders of Ilham Baru Sdn Bhd, the company with majority shares in Ilham Tower Sdn Bhd and identified as the beneficial owner of Menara Ilham,' it said. In line with Section 36(1) of the MACC Act 2009, a notice of asset declaration was handed to 22 individuals identified as relatives or close associates of Diam and Na'imah since yesterday for the purpose of identifying and confirming asset ownership. The MACC stressed that all actions taken were part of the commission's functions and role to ensure there was no element of corruption, embezzlement and abuse of power in the management of the country's wealth. 'The MACC is committed to carrying out its investigation independently, transparently and based on law, without any interference or political interest,' it added. - Bernama
New Straits Times
09-07-2025
- Business
- New Straits Times
Daim-linked assets probe widens to 6 more countries
KUALA LUMPUR: Previously undeclared properties, investments and bank accounts linked to the late Tun Daim Zainuddin have now been identified in six additional countries. This brings the total number of countries associated with Daim's undisclosed assets to 11. Malaysian Anti-Corruption Commission Chief Commissioner Tan Sri Azam Baki told the New Straits Times"at least" RM4.5 billion in assets linked to the former finance minister had been traced in these countries, including RM758 million in the United Kingdom. Besides the UK, the other countries are the United States, Switzerland, the British Virgin Islands, the Cayman Islands, Singapore, Jersey (a British Crown protectorate), Japan, Italy, Indonesia as well as an African country, he said. Azam said the MACC probe had uncovered assets identified in the US that included condominiums, commercial buildings and bank accounts, while assets in Japan involved a chain of hotels. "The assets identified in Italy involve real estate and shopping centres. "We have also identified investment assets and bank accounts valued at more than RM540 million in Singapore as well as investment assets and bank accounts valued at over RM1.15 billion in Jersey." Azam said mutual legal assistance (MLA) proceedings had been initiated under the Mutual Assistance in Criminal Matters Act 2002 (MACMA 2002) for investigation purposes. "Court applications will be made to obtain restraining orders on the assets. "The MLA application process has begun. It is a complex international legal procedure." Azam said MACC was cooperating and would continue to work closely with the authorities in the respective countries to coordinate details, comply with local laws and ensure that asset freezing orders could be enforced. The NST previously reported that the graft busters were eyeing property and assets linked to Daim in several other countries. They believe there were also other assets to be identified. It was also reported that MACC would work with foreign authorities to get more information such as the source of funds and money trail analysis. It was recently reported that authorities in the UK had agreed to impose a restraining order on assets and properties worth £132 million (RM700 million) belonging to Toh Puan Na'imah Abdul Khalid, Daim's widow. UK authorities agreed to MACC's request to impose a restraining order on the assets. 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.
BusinessToday
25-06-2025
- Politics
- BusinessToday
MACC To Forfeit Ilham Tower, UK Approves Seizure Of Daim Family Assets
The Malaysian Anti-Corruption Commission (MACC) is pursuing a forfeiture application involving assets of the late Tun Daim Zainuddin and his family, including Ilham Tower in Kuala Lumpur and high-value properties in the United Kingdom. According to MACC Chief Commissioner Tan Sri Azam Baki, the UK authorities approved a restraining order on June 24 following a grant on June 5, allowing the commission to proceed with legal actions involving Daim-linked assets abroad. A case management hearing is scheduled for July 9. The move to seize Ilham Tower follows earlier actions under the Anti-Money Laundering Act in December 2023. The forfeiture application will be filed under Section 55 or 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA). The UK properties, reportedly worth £132 million (approximately RM758 million), are said to include luxury residences and commercial real estate linked to Daim's widow, Toh Puan Na'imah Abdul Khalid. These actions are part of MACC's ongoing investigations sparked by the Pandora Papers and allegations of over RM2 billion in undeclared assets. The commission stated that forfeiture efforts operate independently of criminal prosecution, with the agency prioritising public interest and asset recovery. Related
Daily Express
04-06-2025
- Business
- Daily Express
Naimah to challenge MACC's freezing order on overseas assets
Published on: Wednesday, June 04, 2025 Published on: Wed, Jun 04, 2025 By: FMT Reporters Text Size: 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. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
