MACC seeks to forfeit billion-ringgit Ilham Tower owned by late Daim’s family—report

• MACC Chief Tan Sri Azam Baki: "We have already submitted an application under Section 51 of AMLATFPUAA [to seize the tower], and the next step will be to file an application under Section 55 or 56 of the same Act to forfeit the asset [Ilham Tower]."

KUALA LUMPUR (June 6): The Malaysian Anti-Corruption Commission (MACC) will apply to forfeit the 60-storey Ilham Tower (pictured), worth about a billion ringgit, owned by the late Tun Daim Zainuddin’s family, a report says.

Ilham Tower on Jalan Binjai in Kuala Lumpur has 33 office floors and 22 serviced apartment floors, covering one million square feet, says its website.

MACC Chief Tan Sri Azam Baki told the New Straits Times that the first step of the forfeiture action was seizing the tower on June 5 under Section 51 of the Anti-Money Laundering Act (AMLATFPUAA) 2001.

This law allows authorities to seize property suspected to be linked to illegal activity. The next step is to file for forfeiture under Section 55 (if there's prosecution) or Section 56 (if there's no prosecution).

"We have already submitted an application under Section 51 of AMLATFPUAA [to seize the tower], and the next step will be to file an application under Section 55 or 56 of the same Act to forfeit the asset [Ilham Tower]," Azam said.

Ilham Tower was the meeting place for the Council of Eminent Persons, formed in 2018 by then prime minister Tun Dr Mahathir Mohamad. Daim was the chairman.

Ilham Tower was first seized in December 2023 under the MACC Act 2009, which allows property to be frozen for up to 18 months if it's believed to be tied to corruption for possible forfeiture.

Following the latest seizure, any sale or transfer of the building is now banned. Daim’s widow, Toh Puan Na’imah Khalid, has said she will challenge the seizure in court.

The tower is owned by Ilham Tower Sdn Bhd, with shares held mainly by Ilham Baru Sdn Bhd, a company fully owned by Na’imah and her two sons, Muhammed Amin Zainuddin and Muhammed Amir Zainuddin.

In May, Azam said it was looking to forfeit over RM2 billion in undeclared assets linked to Daim and his family. Investigations were based on information from foreign agencies showing that Daim’s family didn’t declare certain assets in 2023.

On June 3, the High Court froze £132 million (about RM758 million) in London assets allegedly owned by Na’imah, also at the MACC’s request.

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