The Malaysian Anti-Corruption Commission (MACC) has seized the Ilham Tower, a commercial building owned by fthe family of the former finance minister Daim Zainuddin.
According to sources, the seizure occurred on December 21 following Daim’s refusal to declare his and his family’s financial holdings.
The construction of the iconic Menara Ilham, the seventh tallest building in Malaysia, is part of an anti-money laundering investigation into a 1997 corporate transaction valued at RM2.3 billion, CNA reported.
Construction of the iconic 274m-tall, 60-storey Menara Ilham is said to be at a cost of RM2.117bil.
Daim rebuffed the MACC’s demands and claimed he had nothing to do with the deal. The MACC will now take control of the property on paper.