Malaysia’s former finance minister Daim Zainuddin dies at age 86
Sign up now: Get ST's newsletters delivered to your inbox
Mr Daim Zainuddin had served two stints as Malaysia’s finance minister from 1984 to 1991 and from 1999 to 2001.
PHOTO: BERNAMA
Follow topic:
KUALA LUMPUR - Malaysia’s former finance minister Daim Zainuddin died on Nov 13, aged 86.
He was admitted in October to Assunta Hospital in Petaling Jaya after suffering a stroke.
Tun Daim, whose full name was Che Abdul Daim Zainuddin, was a close ally of former prime minister Mahathir Mohamad, and had served two stints as the country’s finance minister in the latter’s Cabinet from 1984 to 1991 and from 1999 to 2001.
Prime Minister Anwar Ibrahim, who is in Peru to attend an Apec meeting, said in a social media posting: “My condolences to the family of the deceased. The government recognised his service and contribution to the country, especially when he was the minister of finance.”
Tun Dr Mahathir said in a statement that he was inconsolable over the loss of his close friend.
“He should have been lauded for his contributions but at the end of his life, he was attacked for no reason. For no reason but vengeance!” said Dr Mahathir, referring to the ongoing graft probe into Mr Daim that was started after Datuk Seri Anwar became prime minister.
Dr Mahathir said he prayed that Mr Daim will receive justice from God. Dr Mahathir and his wife, Tun Dr Hasmah Mohamad Ali, visited Mr Daim’s house in Bukit Tunku to pay their last respects.
Other top politicians who paid their last respects included Higher Education Minister Zambry Abdul Kadir, and former Cabinet ministers Azmin Ali, Syed Hamid Albar and Rais Yatim.
In 2023, the Malaysian Anti-Corruption Commission started investigating Mr Daim
He was alleged to have failed to declare his assets, which comprised 38 companies and 25 properties in Kuala Lumpur and five Malaysian states, as well as a bank account and seven luxury cars, including a Rolls-Royce.
Mr Daim had said in December that the investigations were politically motivated.
The anti-graft body said the probe was linked to the release of the Pandora Papers by the International Consortium of Investigative Journalists, which revealed offshore accounts of present and past leaders from around the world.
Mr Daim was charged on Jan 29, 2024.
He pleaded not guilty and was granted bail at RM280,000 (S$84,200) after his lawyer told the court that he is “not going anywhere” owing to his health condition.
He was slated to attend a hearing on Nov 20.
During his first tenure as finance minister, he played a critical role in restructuring Malaysia’s economy, while the second appointment saw him focusing on handling the Asian financial crisis.
When Dr Mahathir became prime minister for the second time in 2018,
The council studied issues facing the country and made several recommendations to improve governance, the economy and the well-being of the people.
Born on April 29, 1938, in Alor Setar, Kedah, Mr Daim was the youngest of 13 siblings.
His father was a government clerk and his mother a homemaker. He became a Member of Parliament for Kuala Muda, in Kedah, in 1982 before moving on to Merbok in 1986 under Umno.
He was expelled from the party in 2018
After PH’s historic victory in 2018,
On Facebook, former prime minister Muhyiddin Yassin extolled Mr Daim’s contribution to the nation and lauded the latter’s performance during his second stint as finance minister for pulling the Malaysian economy out of the Asian financial crisis.
Parliament’s Opposition Leader and former home minister Hamzah Zainuddin also expressed his condolences to the family in a Facebook post.
“The nation lost a priceless pearl today that can never be replaced. We didn’t just lose a great leader, we lost one of the economic architects when Malaysia was an Asian Tiger.”
“Personally, I lost a teacher, a mentor, a father and a friend who taught me in the corporate and political world,” said Datuk Seri Hamzah.
Former minister Lim Guan Eng also condoled the death of Mr Daim in a Facebook posting.
Mr Daim was buried on Nov 13 at the Bukit Kiara 1 Muslim cemetery in Kuala Lumpur, at around 6pm.
