MACC seizes Ilham Tower

MACC has seized Ilham Tower, a high commercial-value building located in Kuala Lumpur, according to media reports.

The building is owned by the family of former finance minister Daim Zainuddin, who is also a close associate of Dr Mahathir Mohamad.

This is also where the now disbanded Council of Eminent Persons, chaired by Daim, held their meetings when Pakatan Harapan was in power and Mahathir was the prime minister for a second time.

Channel News Asia quoted a source close to Daim as saying that the seizure took place today.

This came after the former minister refused to comply with requests from the MACC to disclose the financial holdings of both himself and his family, the source was cited as saying.

CNA added that the seizure is linked to an anti-money laundering investigation that began in late May into a corporate transaction worth RM2.3 billion in November 1997.

The transaction involved publicly listed Renong Bhd and United Engineers Malaysia Bhd (UEM).

However, CNA reported that Daim has refused to comment on the matter.

Close associates of Daim were also reported as saying that the latter had received an order from MACC in late May to make declarations of his financial holdings and assets of his family members.

However, the former politician had rejected the demands. Instead, he asserted, during questioning by MACC officials, that he had no involvement in the Renong-UEM deal.

He stressed that it was purely a corporate transaction between the companies - where UEM acquired 33 percent stake in Renong - and they were governed by their respective managements, shareholders and board of directors.

No more extensions

Daim, 81, was believed to have requested extensions to provide information about his financial holdings.

He also requested MACC to reveal the grounds for the asset declaration petition, including the alleged offences under investigation.

However, in early December, sources reportedly said that Daim was notified by MACC that no more extensions would be granted.

Following an investigation in May, MACC said it was probing into the alleged misappropriation of public funds worth more than RM2.3 billion.

In June, the anti-graft agency said it had frozen more than RM39 million in bank accounts, including those belonging to an unidentified former senior minister, two businesspersons with “Tan Sri” titles and their family members.

Daim had served as finance minister twice during Mahathir’s first tenure as prime minister from 1981 to 2003.

He had also served as the chairperson of the Council of Eminent Persons when Mahathir became prime minister again in 2018.

Kit Siang renews calls for govt to declassify CEP and IRC reports

Daim, Halim Saad silent on MACC probe

Halim Saad breaks silence, denies quizzed over Renong shares deal

'Shocked' Kit Siang wants Daim to reveal stand on CEP, IRC reports