KUALA LUMPUR – The High Court has allowed the Malaysian Anti-Corruption Commission (MACC) to freeze foreign assets linked to Toh Puan Na’imah Abdul Khalid, the widow of the late former finance minister Tun Daim Zainuddin, with an estimated value of £132 million (RM758.2 million).
The order, granted on an ex-parte basis by Judge Datuk Azhar Abdul Hamid, covers two commercial properties, five upmarket residences and a bank account, all located in London, according to Utusan Malaysia.
The MACC said its investigation found that the assets, both movable and immovable, were connected to an offence under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The commission’s deputy public prosecutor Mahadi Abdul Jumaat confirmed the court’s decision, local media reported.
The bank account is reportedly held under the Ilham Foundation, a charitable organisation chaired by Na’imah.
The foundation is said to focus on cultural, educational and social causes, according to The Edge.
The properties in question are believed to have been acquired between 2013 and 2021. The court order is expected to be forwarded to British authorities for enforcement.
This move follows earlier remarks by MACC chief commissioner Tan Sri Azam Baki, who disclosed that the agency was in the process of seizing over RM2 billion in undeclared assets allegedly tied to Daim, his relatives and associates. He had also revealed that eight investigation papers had been opened based on fresh intelligence from international counterparts, including those in the UK and Switzerland.
These assets were not declared during investigations in 2023, Azam said.
The development, however, has drawn criticism from Daim’s legal team.
In a joint statement, lawyers Rajesh Nagarajan and Sachpreetraj Singh, who represent Na’imah and her family, described the commission’s action as “political” and “legally baseless”, according to The Edge.
They also questioned whether the commission had properly consulted the Attorney General or obtained sound legal advice before pursuing the case. – June 3, 2025