KUALA LUMPUR – The Malaysian Anti-Corruption Commission’s (MACC) move to restrain over RM750 million in foreign assets linked to the family of the late former finance minister Tun Daim Zainuddin is subject to a strict 12-month legal timeline, according to former MACC chief commissioner Tan Sri Dzulkifli Ahmad.
Dzulkifli clarified that the action taken was not a “freezing order” as reported, but rather a prohibitory order issued under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).
“Under the current law, a prohibitory order expires after 12 months if no prosecution is initiated against the person involved,” he said in a statement.
“This is a critical safeguard to ensure that enforcement agencies act within a reasonable timeframe.”
The former commissioner said the order, which was granted ex parte by the High Court, serves only to temporarily restrain dealings with the specified assets pending further investigation.
He stressed that it does not constitute a finding of guilt or illegality.
“This order is a legal mechanism to preserve the status quo and prevent the dissipation of assets while investigations are ongoing. It does not imply that the property in question was obtained through unlawful means,” he added.
Dzulkifli also noted that although amendments to Section 53 of AMLA had received Royal Assent on April 24, the revised provisions have not yet come into force.
When effective, the amended law will allow prohibitory orders to last up to 18 months, with a possible extension of 12 months upon application by the Public Prosecutor.
“Until then, the 12-month cap remains. If charges are not filed within that period, the order lapses by operation of law,” he said.
On May 31, the High Court allowed MACC’s application to restrain assets located in the United Kingdom, including commercial properties, luxury residences and a bank account reportedly held under the Ilham Foundation, a charitable body chaired by Daim’s widow, Toh Puan Na’imah Abdul Khalid.
The commission had said the assets were linked to suspected offences under Section 4(1) of AMLA.
Lawyers representing Na’imah and her family have since criticised the move as politically motivated and “legally baseless,” questioning whether MACC had obtained sound legal advice before pursuing the case.
Despite the public attention the case has drawn, Dzulkifli maintained that the legal process must be allowed to run its course within the confines of established statutory limits. - June 3, 2025
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