Malaysia

MACC moves on Daim-linked Menara Ilham forfeiture

Anti-corruption agency to pursue ownership claim under money laundering law following renewed asset seizure

Updated 1 year ago · Published on 06 Jun 2025 3:36PM

MACC moves on Daim-linked Menara Ilham forfeiture
Forfeiture can follow a criminal conviction, while Section 56 provides for civil forfeiture without prosecution - June 6, 2025

THE Malaysian Anti-Corruption Commission (MACC) will seek the forfeiture of Ilham Tower, a landmark skyscraper in the capital owned by the family of former finance minister Tun Daim Zainuddin, following a second seizure sanctioned under anti-money laundering legislation.

MACC Chief Commissioner Tan Sri Azam Baki confirmed that prosecutors had authorised the commission to act under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).

“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 56 or 55 of the same Act to forfeit the asset (Ilham Tower),” Azam told reporters.

Under Section 55, forfeiture can follow a criminal conviction, while Section 56 provides for civil forfeiture without prosecution.

Azam clarified that this latest action differs from the building’s initial seizure in December 2023, which had been executed under the MACC Act. “This time, it involves AMLATFPUAA,” New Straits Times cite Azam saying.

The seizure, confirmed on Wednesday, bars any dealings involving the transfer of ownership of the 60-storey building situated on Jalan Binjai, near the Petronas Twin Towers.

Ilham Tower, which features a four-star hotel, office suites, an art gallery, and retail spaces, is valued between RM1.5 billion and RM2 billion.

The original seizure last year, granted for a record 18 months, was linked to an ongoing investigation into a RM2.3 billion corporate transaction involving listed companies Renong Bhd and United Engineers Malaysia Bhd. - June 6, 2025

Spotlight

Malaysia

Anwar: Children’s smiles, dreams are Malaysia’s future (video)

Heritage

Penang first state to recognise Hungry Ghost Festival, cemeteries as heritage

Malaysia

Child malnutrition needs urgent action, says Charles Santiago

By Alfian Z.M. Tahir

Malaysia

Zahid: Umno, BN favour earlier GE16

World

Trump floats renaming Strait Of Hormuz ‘Trump Strait’ amid Iran conflict

Malaysia

Weak earthquake measuring 3.4 magnitude detected in Keningau

Malaysia

Stepfather held over alleged rape, sexual assault of 13-year-old in Besut

Malaysia

Toying with danger: Police tracking owner of MPV

You may be interested

Malaysia

Accountant charged over alleged RM2.53m tax under-reporting

Malaysia

Document proves Muhyiddin participated in golf event in 2020 – Witness

Malaysia

Four teenagers feared drowned at Tanjung Lompat

Malaysia

Penang, Thai cops seize drugs worth over RM4m in joint operation

By Ian McIntyre

Malaysia

Malaysia to bring in 200,000 Bangladeshi workers in six-month intake

Malaysia

77 Malaysians brought to Kathmandu for repatriation as 55 remain unaccounted for

Malaysia

Bersatu pursues Melaka allies as PN questions its future in coalition

Malaysia

Anwar warns US-Iran escalation risks wider Middle East war