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Malay Mail
09-07-2025
- Business
- Malay Mail
Court allows MACC to amend notice in bid to freeze UK assets worth £132m linked to Daim's widow
KUALA LUMPUR, July 9 — The High Court here today allowed an application by the Malaysian Anti-Corruption Commission (MACC) to amend the notice of motion concerning the application to freeze assets worth £132 million (RM761 million) in London, United Kingdom (UK), allegedly owned by the wife of the late Tun Daim Zainuddin, Toh Puan Na'imah Abdul Khalid and her family. The assets comprise two commercial buildings at St Mary Axe and One Crown Court; three luxury residences at Bryanston Square, Bryanston Mews and Lancaster Gate; two residential units at Gloucester Place; and a CAF Bank Limited (UK) bank account allegedly held by The Ilham Foundation. Judge Datuk Azhar Abdul Hamid made the ruling after deputy public prosecutor Maziah Mohaide told the court that the amendment involved additions to the details in the notice of motion. 'The ex-parte application is to amend the notice of motion dated May 30, 2025, namely to add details to the address along and the title number according to the format of the enforcement authorities in the UK and to amend the details of the date and purchase value of the immovable properties in the notice of motion,' said Maziah. Meanwhile, lawyer Syed Afiq Syed Albakri, representing Na'imah, said six companies, including The Ilham Foundation, had applied to be interveners in the MACC's application to freeze the assets involved, but Maziah objected to the application Judge Azhar then ordered the prosecution to file an affidavit in reply to the application to intervene on July 25, while the six companies involved were to file theirs on August 6, and set August 8 for the case management. 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 the MACC during the 2023 investigation. — Bernama
Malay Mail
25-06-2025
- Business
- Malay Mail
MACC moves to forfeit Ilham Tower, RM700m UK assets linked to Daim and proxies
KUALA LUMPUR, June 25 — 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 widow 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
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
Malay Mail
05-06-2025
- Business
- Malay Mail
MACC seizes Ilham Tower again after getting approval linked to Daim's family assets
KUALA LUMPUR, June 5 — The Malaysian Anti-Corruption Commission (MACC) today said it has received approval to seize Ilham Tower again. In a statement issued today, the anti-graft agency said it will now confiscate the property — a prominent corporate tower in Kuala Lumpur linked to the late Tun Daim Zainuddin. 'This seizure is based on a Notice of Seizure of Immovable Property under Section 51(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001) dated June 4, 2025,' read the statement. The MACC said the seizure was approved under Section 376(3) of the Criminal Procedure Code (Act 593). It added that a deputy public prosecutor confirmed that information provided by the MACC shows the building is linked to an offence under subsection 4(1) of the AMLATFPUAA 2001. This is the second time Ilham Tower has been seized by the MACC. The first seizure took place on December 18, 2023, after Daim failed to declare his family's financial assets as requested by the MACC. Ilham Tower is a 60-storey skyscraper in central Kuala Lumpur and is owned by Ilham Tower Sdn Bhd, a subsidiary controlled by Daim's widow, Toh Puan Na'imah Abdul Khalid, and their two sons.
Malay Mail
05-06-2025
- Business
- Malay Mail
MACC says freeze of Daim's widow's assets stops disposal during probe
KUALA LUMPUR, June 5 — The Malaysian Anti-Corruption Commission (MACC) said it froze seven properties and one bank account belonging to the late Tun Daim Zainuddin's widow, Toh Puan Na'imah Abdul Khalid, to prevent the assets from being disposed of while investigations are ongoing. MACC Chief Commissioner Tan Sri Azam Baki said the move was part of the commission's preliminary actions to facilitate further investigation. 'In this case, we have submitted a court application for a prohibition order to freeze the overseas assets. If such an order is not obtained, there is a high possibility that the assets, believed not to have been declared, may be disposed of,' he said in a statement today. Media reports yesterday stated that three luxury homes in London are among the seven properties and one bank account said to belong to Na'imah and her family, involving a total value of £132 million (RM758.2 million), 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. The MACC's application, represented by deputy public prosecutor Mahadi Abdul Jumaat, to freeze the assets was granted by High Court Judge Datuk Azhar Abdul Hamid in an ex parte proceeding yesterday. Meanwhile, former MACC Chief Commissioner Tan Sri Dzulkifli Ahmad said the legally accurate term in this case is a prohibitory order, not a freezing order. He explained that 'freezing' typically refers to action under Section 44 of the Anti-Money Laundering Act (AMLA), which usually involves bank accounts and specific financial instruments. In contrast, this case involves a prohibitory order under Section 53 of AMLA, which pertains to restrictions on transactions involving overseas assets suspected of being linked to unlawful activities. 'However, the issuance of a prohibitory order does not imply or presume that the assets in question were obtained through corruption or illegal means,' he added. 'The purpose of this order is simply to block any transactions involving the specified assets while MACC investigations are ongoing. It is a temporary measure to maintain the status quo and prevent disposal of the assets during the investigation,' he said in a statement. Dzulkifli, who is also a lawyer, noted that the High Court's prohibitory order was issued through an ex parte application, meaning it was made without prior notice or the presence of the affected parties. At that stage, he added, the individuals subject to the order have not yet been given the opportunity to respond or challenge the application in court. — Bernama
