High Court Freezes RM758 Million in Tun Daim's Overseas Assets

Kuala Lumpur High Court Freezes Tun Daim Zainuddin's \u00a3132 Million Overseas Assets. The Malaysian Anti-Corruption Commission (MACC) has successfully petitioned the Kuala Lumpur High Court to freeze overseas assets belonging to Tun Daim Zainuddin and his family. The frozen assets, totaling \u00a3132 million (approximately RM758.2 million), include commercial properties, retail outlets, and a bank account, all located in London. The MACC made the application under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. According to Tan Sri Azam Baki, Chief Commissioner of the MACC, the agency received new information from foreign agencies that led to this action. "This is a significant development in our ongoing investigation," said Baki. The court order will be sent to the UK authorities for enforcement. This is not the first time assets belonging to Daim have been frozen; around RM2 billion worth of his assets have been frozen since investigations began in February 2023. This case highlights the MACC's commitment to combating corruption and financial crime in Malaysia. The successful freezing of these assets sends a strong message that no one is above the law.