EXCLUSIVE: Malaysia's anti-graft agency cracks down on former finance minister Daim
CNA・2 minutes read
The Malaysian anti-corruption commission seized the multi-million dollar ilham Tower owned by former Finance Minister din Zodin's family due to his refusal to disclose financial holdings related to a 1997 $500 million US corporate transaction involving parties linked to the ruling party. The deal caused market turmoil and political tensions, with the probe 26 years later potentially driven by political motives and historical disputes involving key figures like Finance Minister Ibrahim and Mahdman.
Insights
- The Malaysian anti-corruption commission seized the ilham Tower due to former Finance Minister Dime Zodin's non-disclosure of financial holdings related to a $500 million US corporate transaction in 1997 involving entities linked to the ruling Amno party.
- The 1997 deal where EM acquired 33% of Rena for 2.3 billion ringgit led to market turmoil and political tensions, with the probe initiated 26 years later possibly driven by political motives and historical animosities between figures like Finance Minister Anir Ibrahim and Mah D Man.
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Recent questions
What is the Ilham Tower in Malaysia?
A commercial property seized due to corruption allegations.
Who was involved in the 1997 corporate transaction?
Entities Renon and UEM linked to the ruling Amno party.
Why was the 1997 corporate transaction investigated 26 years later?
Potentially influenced by political motives and historical grievances.
What led to the seizure of the Ilham Tower?
Refusal to disclose financial holdings in connection to a corporate transaction.
What impact did the 1997 corporate transaction have on Malaysia?
Caused market turmoil and political tensions.
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Summary
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Ilham Tower Seized Amid Corruption Probe
- Malaysia's anti-corruption commission seized the multi-million dollar ilham Tower, a Prime commercial property owned by the family of former Finance Minister dime zodin, due to his refusal to disclose his and his family's Financial Holdings in connection to a $500 million US corporate transaction from 1997 involving entities renon and uem linked to the ruling amno party.
- The deal in 1997 saw em acquiring 33% of Rena for 2.3 billion ringgit, causing market turmoil and political tensions, with the probe into the transaction happening 26 years later, potentially influenced by political motives and historical grievances between key figures like Finance Minister anir Ibrahim and Mah d man.
