CNA claimed that Daim told MACC officials that he had nothing to do with the Renong-UEM deal and in early December, the former finance minister was told by MACC that he would no longer receive any extension,



It was reported that Daim maintained that the deal which involved UEM group acquiring a 33% interest in Renong


was purely a corporate transaction between companies that were governed by their respective managements, board of directors and shareholders.

Daim was presently under an anti-money laundering probe that started in late May regarding a corporate transaction valued RM2.3bil (US$500mil) in Nov 1997 involving public-listed Renong Bhd and United Engineers Malaysia Bhd (UEM), which were both linked with Umno.





As of press time, The Star is also currently trying to reach out to MACC chief commissioner Tan Sri Azam Baki.

Menara Ilham, estimated to be constructed at the cost of US$580mil (RM2.7bil) is located in the vicinity of prime commercial and high-rise residential properties around the KLCC.

In May this year, MACC had said it was gathering information involving alleged misappropriation of RM2.3bil by a former minister and a businessman.

Sources said the probe is a continuation to the disclosure of confidential documents by the International Consortium of Investigative Journalists (ICJ), also known as the Pandora Papers, which is over transactions carried out at offshore financial centres.



The Securities Commission Malaysia was to later compel Tan Sri Halim Saad, who was the then controlling shareholder of Renong Group, to buy back the stake from UEM and payments were to be made between February 2001 and April 2002.


In July 2001, however, it was decided that Khazanah Nasional


should step in to take over the entire Renong/UEM group — which not only had RM12 billion in debt


but also important assets such as the PLUS highway and Commerce Asset Holdings (now CIMB Bank) — for around RM4 billion.

This post has been edited by plouffle0789: Dec 21 2023, 11:14 PM

It’s still an open buffet, different people eating the buffet only.

This will never happen in Malaysia because any government of the day will only reveal/catch the songlap cases of those against them and let their own people songlap.

You think kichimiao got no war chest ah?

want your building, so slap you with a charge

He is their bank, of course they shield him.

Anyone who become the bank of those in power kena shield. Now new govt so change bank only. So end of the day, same shit 2x5

Anak, cucu, geng kiterr sudah untung billion.

Korang malas dan miskin

-Vip

My bad, make it exotic then

Daim family is among the richest if not the richest in the country.

DAP merampas hak Melayu...DAP mahu menguasai Malaysia...- PuAS

yes

like I said, he is one of the Deep State fella here in MY, changed gomen also no use if these ppl still around.
see how pas also kowtow to him

Pfitzer big news...kek

Afraid if they declare their wealth might be richer than sultan

Malaysia is healing

Anyone remember PH1.0? Ministers have to go Menara Ilham to report to those deep state fellas.

topkek