High Court Fixes August 13 Hearing on MACC Bid to Restrict Na’imah’s Offshore Asset Management
KUALA LUMPUR: The High Court has fixed August 13 to hear an application by the Malaysian Anti-Corruption Commission (MACC) seeking to prevent Toh Puan Na’imah Abdul Khalid, widow of the late Tun Daim Zainuddin, from managing offshore assets worth hundreds of millions located in Jersey, a British Crown dependency.
The application involves assets valued at approximately US$157.5 million and £85 million and seeks to restrain Na’imah as well as any parties linked to her from dealing with the assets pending the court’s decision.
High Court Judge Noor Ruwena Md Nurdin fixed the hearing date during a case management session attended by Deputy Public Prosecutor Mahadi Abdul Jumaat and lawyer Muhammad Nizamuddin Abdul Hamid, who represented Na’imah.
Na’imah was exempted from attending the proceedings.
According to court documents, the application was filed by the MACC on June 25 last year after investigators alleged that the assets had been acquired by Na’imah or individuals associated with her in Malaysia and were not declared to the Inland Revenue Board.
The application was made under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 following investigations conducted under Section 113 of the Income Tax Act and Section 4(1) of the same legislation.
The latest filing marks the third overseas asset-related application brought by prosecutors, following earlier proceedings involving assets in the United Kingdom and Singapore.
In June 2025, the MACC sought a restraining order against Na’imah, her son Muhammed Amir Zainuddin, two individuals, five companies and related parties from managing overseas assets, including investment funds worth £21 million and US$99 million held in Singapore.
However, the High Court dismissed that application on May 22 this year.
Separately, the court has fixed June 30 to decide on Na’imah’s application to set aside the MACC’s attempt to freeze several commercial and residential properties in London worth an estimated £132 million in proceedings involving The Ilham Foundation.
Earlier, former MACC Chief Commissioner Azam Baki disclosed that eight investigation papers had been opened following fresh information obtained from foreign enforcement agencies concerning assets linked to Daim, members of his family and several alleged proxies.
He said the new information indicated that some of the assets under scrutiny had not been declared during the anti-graft agency’s earlier investigations in 2023.
The ongoing proceedings continue to draw public attention as they involve substantial overseas assets and reflect increasing cooperation between Malaysian authorities and their international counterparts in investigating financial and asset-related matters.
