MACC moves to forfeit Daim-linked Menara Ilham
illahhafiz.abdulaziz@bh.com.my
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) will apply for the forfeiture of Menara Ilham, a building owned by the family of former finance minister Tun Daim Zainuddin.
This follows the MACC receiving authorisation from the deputy public prosecutor to seize the building on Jalan Binjai for a second time.
MACC Chief Commissioner Tan Sri Azam Baki said the forfeiture would be carried out under Section 55 or Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001.
"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)," he said when contacted.
Section 55 allows for the forfeiture of property following a conviction, while Section 56 provides for civil forfeiture without the need for prosecution or conviction.
Commenting on the second seizure of Menara Ilham, Azam said it involved two different legal provisions.
"Previously (the December 2023 seizure) was carried out under the MACC Act, while this time it involves the AMLATFPUAA," he said.
Yesterday, the MACC announced that the seizure prohibits all dealings involving the transfer of ownership of the property.
Ilham Tower, located in downtown Kuala Lumpur near the Petronas Twin Towers, houses a four-star hotel, office spaces, a gallery, and other facilities.
This is not the first time the MACC has seized the 60-storey tower.
In December 2023, the MACC invoked its powers to take control of the 274-metre-tall skyscraper, estimated to be worth between RM1.5 billion and RM2 billion.
Sources said the tower was seized for 18 months, the longest duration granted to the MACC to date.
The move was understood to be part of an investigation into a corporate transaction valued at RM2.3 billion involving publicly listed Renong Bhd and United Engineers Malaysia Bhd.
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