The Malaysian Anti-Corruption Commission (MACC) is pursuing the forfeiture of several overseas properties linked to Tun Daim Zainuddin that were not declared.
MACC Chief Commissioner Tan Sri Azam Baki said today that eight new investigation papers had been opened, based on fresh information from foreign agencies regarding assets associated with Daim, his family members, and proxies.
“We are looking into properties and assets abroad that were not disclosed in his previously submitted asset declaration. Among the countries where these properties are located are Switzerland and the United Kingdom,” Azam told reporters.
He confirmed that the total value of these assets exceeds RM2 billion, and efforts to freeze a substantial portion are underway.
Azam noted that the probe, which began in February 2023, is continuing despite Daim’s death in November last year. “We are in the midst of freezing a large sum of property,” he said, adding that the undeclared asset figure may rise as investigations progress.
“We have already frozen over RM2 billion in assets, but if there are other properties that have yet to be declared, then this figure is bound to increase further. Our investigators are tracing these properties, including verifying whether they were acquired legally,” he added.
He stated that any forfeiture would depend on the Deputy Public Prosecutor’s Office and confirmed that asset forfeiture remains a primary focus of the investigation.
On 21 January, Azam had said that the MACC was still identifying assets linked to Daim, his family, and proxies based on information from international counterparts. “We are still conducting investigations on the assets declared to us. Based on information obtained from our counterparts, there are indicators of Daim’s assets abroad,” he said, without providing further detail.
Azam acknowledged the complexity of the investigation, given its cross-border nature.
Following Daim’s passing on 20 November last year, the Kuala Lumpur Sessions Court discharged and acquitted him of charges under Section 254 of the Criminal Procedure Code.
However, investigations under Section 23 of the MACC Act 2009 and Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) are ongoing. These also involve Daim’s wife, Toh Puan Na’imah Abdul Kadir, and other family members, focusing on the acquisition of overseas assets.