The Malaysian Anti-Corruption Commission (MACC) has secured a court order to freeze assets in the United Kingdom worth an estimated £132 million linked to Naimah Khalid, the widow of the late former finance minister Tun Daim Zainuddin, and her family.
The frozen assets comprise two commercial buildings, five luxury residences, and one bank account located in London, according to reports from local media. The Kuala Lumpur High Court, presided over by Justice Azhar Abdul Hamid, granted the freeze in an ex parte application earlier today.
The court order is expected to be forwarded to the relevant UK authorities for enforcement under cross-border asset recovery cooperation.
MACC stated that its investigations indicate the assets are linked to suspected offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). The commission described the freezing action as part of its broader efforts to trace and recover assets allegedly acquired through unlawful means.
MACC Chief Commissioner Tan Sri Azam Baki previously disclosed that the agency was evaluating the seizure of over RM2 billion worth of undeclared assets allegedly connected to Daim, his family members, and proxies. These efforts intensified following fresh intelligence received from foreign enforcement agencies, prompting the opening of eight new investigation papers.
In January 2024, Daim had been charged for failing to comply with an official asset declaration notice issued by MACC. He was accused of not declaring interests in 38 companies, 19 land parcels across five states, six properties, two unit trust accounts, and seven luxury vehicles. According to MACC, despite receiving five extensions, Daim did not comply with the declaration order.
His widow, Naimah Khalid, is also facing charges for failing to declare her ownership in several businesses, land holdings in Penang and other states, and two vehicles.
Following Daim’s death on 13 November 2024, the prosecution withdrew the charges against him, and the court granted a full discharge and acquittal.
The case continues to draw public attention, highlighting Malaysia’s ongoing efforts to tackle illicit enrichment and recover assets hidden overseas through international cooperation.
