KUALA LUMPUR – Hospitality firm Avillion Bhd saw a dip in its share price during the morning trade session, reaching a low of 5 sen as compared to its opening at 55 sen.
A total of 26.66 million shares have been traded so far.
Avillion was among the assets listed by the Malaysian Anti-Corruption Commission (MACC) in court here yesterday when it accused former finance minister Tun Daim Zainuddin of failing to adhere to the asset declaration notice.
The public listed company’s assets, such as Avillion Port Dickson, Avillion Admiral Cove and Admiral Marina & Leisure Club in Negri Sembilan, Avillion Cameron Highlands (Pahang), and AVI Pangkor Beach Resort (Perak), were also noted as Daim’s undeclared assets.
As of June last year, Daim’s son, Datuk Md Wira Dani Abdul Daim, owns a 21.82% stake in Avillion via Ibu Kota Developments Sdn Bhd.
A number of the companies listed in court yesterday also hold interest in Avillion.
Daim, 86, pleaded not guilty in the sessions court here to a charge of failing to declare 70 assets and one bank account to the anti-graft authorities.
The court allowed him bail of RM280,000 in one surety.
The undeclared assets include 38 companies, seven luxury vehicles such as a Rolls Royce Royce 2 Axle Rigid Body, three Mercedes-Benz, a Jaguar XJS HE, an Austin Morris Austin, and a Ford Prefect, and 25 properties that include condominium units, houses and hotels in Kuala Lumpur, Selangor, Pahang, Negri Sembilan, and Kedah.
The charge, framed under Section 36(2) of the MACC Act 2009, provides for a maximum prison sentence of five years and a fine of up to RM100,000 if convicted.
Daim, who had two spells as finance minister – from 1984 to 1991 and from 1999 to 2001 – had been given five extensions by the MACC to declare his assets since the first notice on June 7 last year.
The November 14 date in the charge sheet was the fifth and last extension for him to declare his assets. Subsequently, he had his commercial building, Ilham Tower, seized by the MACC last month.
The MACC’s investigation into the powerful ally of Tun Dr Mahathir Mohamad began in February last year, over information linked to his naming in the Pandora Papers published in 2021.
On January 23, Daim’s wife, Toh Puan Na’imah Abdul Khalid, 67, was also charged in the Kuala Lumpur sessions court for similarly failing to comply with a notice to declare 12 properties, including Ilham Tower and several properties in Kuala Lumpur and Penang. She also claimed trial.
The court has fixed case mention for March 22 for Daim and Na’imah’s cases. – January 30, 2024