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Daim Zainuddin, the 'quiet millionaire'

KUALA LUMPUR: Tun Daim Zainuddin, known as Tun Dr Mahathir Mohamad's "right-hand man," made a return to the political and administrative scene when the former finance minister was tasked with leading the Council of Eminent Persons.

Daim served as finance minister from 1984 to 1991, and a second time from 1999 to 2001. After that, he was said to have retired from politics and withdrew from the public eye.

His close relationship with Dr Mahathir reportedly began when he was appointed as a business consultant to Dr Mahathir, who was then deputy prime minister. He was sometimes referred to as the "quiet millionaire."

Daim's services continued to gain trust as he was later appointed a senator and subsequently as finance minister, replacing Tengku Razaleigh Hamzah during Dr Mahathir's tenure as the fourth prime minister.

Among journalists, he was also dubbed a "man of mystery" due to much speculation about him.

Like Dr Mahathir, Daim also hails from Alor Setar, Kedah. He was born on April 29, 1938, and is the youngest of 13 siblings.

His father worked as a government clerk, while his mother was a homemaker.

He began his early education at Seberang Perak Malay School before continuing secondary school at Sultan Abdul Hamid College (KSAH), Kedah, and St. Xavier's Institution in Penang.

In a "return to his roots," Daim later returned to KSAH, but this time as an educator.

He later pursued a legal path and, in 1959, passed the Bar Examination from Lincoln's Inn.

Daim initially practiced law in Kota Baru, Kelantan, and then entered government legal service, serving as a magistrate in Johor. His legal career progressed further when he worked as a deputy public prosecutor in Perak.

In 1966, he joined the prominent law firm Allen & Gledhill and later founded his own firm, Daim, Gamani & Co., establishing himself as a notable figure in the legal field.

Daim's first ventures into business, involving salt trading and plastic manufacturing, were not successful.

However, in 1973, he turned to real estate development after acquiring valuable land in Maluri, a suburb of Kuala Lumpur.

He established Maluri Sdn Bhd, holding a 60 per cent majority stake. According to Asiaweek, his ventures benefited from his close relationship with then-Selangor Menteri Besar, Datuk Harun Idris.

Daim continued to diversify his investments, including entering the stock market. During this time, he acted as a business consultant to Dr Mahathir, who was then the deputy prime minister.

In 1977, Daim obtained a master's degree in Urban Planning from the University of California, Berkeley, further enriching his knowledge base for his business endeavors. He was later appointed chairman of Peremba, a property development company under the Urban Development Authority (UDA), and in 1982, he was chosen to head Umno's investment company, Fleet Holdings Sdn Bhd, shortly after Dr Mahathir became prime minister and Umno president.

Earlier today, Daim's lawyer, Datuk Gurdial Singh Nijar confirmed that his client died while receiving treatment in Assunta Hospital.

He was 86.

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