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
