KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has invoked its powers to seize ownership of the multi-million ringgit Ilham Tower, which belongs to the family of former minister Tun Daim Zainuddin.
It is learnt that the move was part of the commission's investigation over a corporate transaction valued at RM2.3 billion involving public-listed Renong Bhd and United Engineers Malaysia Bhd (UEM).
MACC chief commissioner Tan Sri Azam Baki remains tight-lipped on the details surrounding the seizure.
Channel News Asia (CNA) quoted financial executives saying that the seizure was due to Daim's refusal to adhere to petitions from the MACC to declare his and his family's financial holdings.
Daim during questioning by the MACC officials insisted that he had nothing to do with the Renong-UEM deal.
The seizure, however, was not the first for the MACC, which had previously seized various immovable properties including land, fishermen's vessels and even oil tankers to assist in their investigation.
"It is normal for the MACC, or any enforcement agency to seize immovable properties to assist in their investigation.
"The law allows the enforcers to seize the properties believed to be involved in crime activities at any stage of their investigation.
"The move is to among other things, safeguard any evidence," a source with knowledge on the matter told the New Straits Times.
Ilham Tower is located in downtown Kuala Lumpur near the Petronas Twin Towers, and houses a four-star hotel, offices and a gallery, among others.
The seizure notice of the 60-storey building was dated Dec 18, and was published as an advertisement in several newspapers including the New Straits Times on Thursday (Dec 21).
It was signed by MACC deputy public prosecutor Ahmad Akram Gharib and made under Section 38(1) of the MACC Act 2009. The notice was addressed to the Property Rights Registrar of the Federal Territories Lands and Mines Office.
The notice, among other thing, stated that the deputy public prosecutor was satisfied with the information provided by the MACC regarding a report pertaining to Ilham Tower and its alleged involvement in a criminal act.
It also said the Property Rights Registrar of the Federal Territories Lands and Mines Office would have to seize the property based on the notice.
"By this, a notice is issued to you to seize immovable property as listed in the schedule (Ilham Tower) and to prohibit any dealings regarding the said immovable property.
"You are required to promptly record the terms of this notice on the relevant property ownership documents in the registry at your office.
"Take notice that according to Section 38(5) of the MACC Act 2009, anyone that goes against this notice or carries out any actions against this notice has committed an offence that can be fined no more than twice the amount of the said value, or RM50,000, whichever is higher, and can be jailed for a period no longer than two years," the notice read.
In explaining the notice, senior lawyer Datuk Geethan Ram Vincent said the seizure exclusively pertains to halting property ownership transfers. He said it does not affect other business activities within the building.
"The term 'prohibiting all transactions related to the immovable property' in the notice means the building owners cannot sell or transfer ownership of the building," he said.