THE recent seizure of Ilham Tower in Kuala Lumpur is linked to investigations into corruption and money-laundering allegations against former finance minister Daim Zainuddin, Utusan Malaysia reports today.

The report quoted Malaysian Anti Corruption Commission chief Azam Baki, who said the agency had applied to the deputy public prosecutor (DPP) to seize the asset.

“That was what happened (in this case). It is under the DPP’s authority that we ordered the Land Office to put a caveat on the property,” he said.

It was reported that MACC had seized Ilham Tower, a RM1.6 billion commercial building owned by the Daim family.

Daim is a close associate of former prime minister Dr Mahathir Mohamad.

According to Channel News Asia, a source said the seizure was effected after Daim refused to comply with requests from the MACC to disclose his and his family’s financial holdings.

The seizure is linked to a money-laundering investigation that began in May into a 1997 corporate transaction worth RM2.3 billion between Renong Bhd and United Engineers Malaysia Bhd.

Utusan Malaysia also reported that MACC is also scrutinising other assets linked to Daim,  including a hotel and an overseas banking institution overseas.

It is also looking into Daim’s businesses.

Daim reportedly had refused to comment on the seizure of Ilham Tower. – December 24, 2023.