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Daim Zainuddin and his wife Naimah Khalid in court shortly before his death in November.
MACC opens 8 new probes on Daim and family, RM2 billion worth of assets frozen to date
KUALA LUMPUR, May 22, 2025: Malaysian Anti-Corruption Commission chief commissioner Azam Baki today revealed that eight new probe papers have been opened on former finance minister Daim Zinuddin and his family.
He said the probes were based on fresh information obtained from overseas.
No News Is Bad News reproduces below two news reports on the new developments on the cases against Daim and his family:
MACC opens 8 new probe papers on Daim, family’s ‘high-value’ assets
Chief commissioner Azam Baki says the probes are based on fresh information obtained from overseas.
Former finance minister Daim Zainuddin died on Nov 13. (Bernama pic)
PUTRAJAYA: The Malaysian Anti-Corruption Commission has opened eight new investigation papers linked to the assets of the late Daim Zainuddin, his family members and a cousin.
MACC chief commissioner Azam Baki said the investigations were prompted by new information received from overseas.
“These new probes involve the alleged ownership of high-value assets by Daim, his family members and his cousin that were not declared to MACC,” he told a press conference today.
He said the findings stem from investigations carried out in 2023, and failure to declare assets constitutes an offence under the law.
Azam also confirmed that although Daim died last November, MACC will move forward with recommending the forfeiture of the assets in question.
“Even though Tun Daim is no longer with us, we will recommend the forfeiture of the assets to the government. It is up to the deputy public prosecutor to agree or not,” he said.
Azam said he has given the investigating officers two months to complete the eight new investigation papers.
In January last year, Daim claimed trial to a charge of failing to comply with the terms of an asset declaration notice issued by MACC.
He was accused of failing to declare his ownership in 38 companies, 19 plots of land in Selangor, Negeri Sembilan, Pahang, Kedah and Kuala Lumpur, as well as six properties.
He was also alleged to have failed to declare his ownership of Amanah Saham Nasional Bhd and Amanah Saham Nasional accounts, as well as seven luxury vehicles.
MACC said Daim had requested an extension to the asset declaration deadline five times but still failed to declare his assets.
His wife, Naimah Khalid, 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.
After Daim’s death on Nov 13 last year, the prosecution withdrew the charges and the court granted an order discharging and acquitting him.
However, the anti-graft agency has said that investigations under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act would still carry on.
Malaysia
MACC freezes RM2 billion worth of assets belonging to the late Tun Daim
The agency has also opened eight new investigation papers based on latest information.
Updated 2 hours ago · Published on 22 May 2025 5:18PM
Azam said the assets were traced in Switzerland, the United Kingdom (UK) and Singapore - May 22, 2025
THE Malaysian Anti-Corruption Commission (MACC) has received latest information from external agencies regarding property and ownership of high-value assets of former Finance Minister, the late Tun Daim Zainuddin and his family.
MACC Chief Commissioner, Tan Sri Azam Baki said that as a result, the agency has opened eight new investigation papers based on the information.
"We are now moving towards looking at assets that were not declared to us at one time.
"So, the latest information shows the ownership of high-value assets by the late Tun Daim, his family and associates that were not declared to us," he told a press conference at the MACC Headquarters, here, today.
Azam said the assets were traced in Switzerland, the United Kingdom (UK) and Singapore as well as several other countries.
"MACC is currently in contact with several authorities abroad (to obtain the relevant information).
"It is not easy because we have to follow legal procedures such as Mutual Legal Assistance," he said.
According to him, so far, RM2 billion of the deceased's assets and properties have been frozen since the case was investigated in February 2023.
"For this latest information, an investigation will be conducted and if it is true that it was not declared, then it is an offence. Despite Tun Daim is no longer with us, we will propose that the property and assets in question be forfeited to the government.
"However, it depends on the Deputy Public Prosecutor (DPP). But we are moving in that direction," he said.
He said witnesses are currently being called to ascertain whether this property was acquired legally, including by calling proxies and family members.
"In this case, I have given the investigating officer approximately two months to complete the investigation into the eight newly opened investigation papers," he said. – May 22, 2025
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