Business as usual at KL office tower linked to Malaysian ex-minister after anti-graft agency seizure

KUALA LUMPUR - It was business as usual at Menara Ilham on Dec 22 after the Malaysian Anti-Corruption Commission (MACC) seized the 60-storey building owned by the family of former finance minister Daim Zainuddin.

Members of the public and employees of the various companies located in the building were seen entering and exiting the premises in Kuala Lumpur as usual.

An employee from one of the companies housed in the building told The Star that tenants received an e-mail from the building management regarding the seizure.

“However, they said operations would go on. Everything was as usual on Dec 22,” he said.

Another employee said he was worried after reading news of the seizure on Dec 21. “My laptop was in the building. I was worried I would not be able to go in,” he said.

Menara Ilham, built at an estimated cost of US$580 million (S$767 million), is located in the prime commercial and high-rise residential property area of KLCC.

MACC said it seized the tower after it found that an offence under the MACC Act 2009 had been committed. The notice, dated Dec 18 from MACC, was published in local media.

CNA quoted financial executives close to Tun Daim as saying that the seizure was effected after he refused to submit to MACC’s petition to declare his and his family’s financial holdings.

Malaysia’s Prime Minister Anwar Ibrahim on Dec 22 said the MACC should be given space in its investigation.

“Whether or not (the allegations) are true, let the process take place and the judiciary will decide,” he said after prayers at the Masjid Jamek Kota Damansara mosque.

“Otherwise,” he added, “there will be criticisms where the small fishes are caught and the big ones are left untouched.”

Datuk Seri Anwar said “this is an open secret, where a person has amassed extraordinary wealth”.

“We are not representing a broken system and our system must show examples of taking brave action against the corrupt,” he said.

In May, MACC said it was gathering information involving alleged misappropriation of RM2.3 billion (S$658 million) by a former minister and businessman.

Sources said the probe was linked to the leak of the Pandora Papers by the International Consortium of Investigative Journalists.

The Pandora Papers refer to millions of leaked documents in 2021, which allegedly revealed offshore accounts of present and past leaders from around the world, including presidents, prime ministers, billionaires and prominent business people.

Tun Daim, Malaysia’s two-time finance minister, was known to be a close friend and confidante of former premier Mahathir Mohamad. 

Tun Daim served two terms as finance minister under Tun Dr Mahathir’s administration – from 1984 to 1991, and from 1999 to 2001 – before resigning from the post after a two-month leave of absence.

He has been credited with twice rescuing the Malaysian economy from near collapse, while also being instrumental in restructuring Malaysia’s economy.

During Dr Mahathir’s second stint as premier, he was appointed to lead the Council of Eminent Persons by the then Pakatan Harapan government in 2018.

The council, which has members such as former Bank Negara governor Zeti Akhtar Aziz and billionaire Robert Kuok, used to meet at Menara Ilham. THE STAR/ASIA NEWS NETWORK