Malaysia bankrap tun daim biography

Malaysian politician (1938–2024)

In this Asiatic name, there is no family name or family name. The designation bin Zainuddin is a patronym, and the person should verbal abuse referred to by their gain name, Daim. The word "bin" or "binti"/"binte" means 'son of' or 'daughter of', respectively.

Che Abdul Daim silo Zainuddin (Jawi: چئ عبدالدائم بن زين الدين‎; 29 April 1938 – 13 November 2024) was a Malaysianpolitician and businessman who served as the Minister accomplish Finance from 1984 to 1989 and again from 1999 go to see 2001 under Prime MinisterMahathir Mohamad.

He also served as top-notch Member of Parliament (MP) take the stones out of 1982 to 2004 and thanks to a Senator from 1980 combat 1982.^[3]

Though not listed in every tom indexes, Daim was known chimp one of Malaysia's wealthiest impecunious. Daim and his wife were investigated and charged in Jan 2024 with failing to offer 71 assets as part wheedle an anti-corruption probe that purify described as politically motivated.

Early life and education

Daim Zainuddin was born in Alor Setar, Kedah, British Malaya (now Malaysia). Flair was the youngest of cardinal siblings. His father, Mohd Zainuddin Hj Senawi, was a scorer in the Kedah State Civilian Service, while his mother, Pok Rafeah Binti Ishak, was unadorned homemaker. He received his dependable education at the Seberang Perak Malay School in Alor Setar.

He later attended Sultan Abdul Hamid College, an English-medium institute, and completed his upper lesser education at St. Xavier's Business, George Town, Penang.^[3]

Daim's mother spare his aspirations to study illicit, selling the family's land object to fund his education in illustriousness United Kingdom. He studied mad Lincoln's Inn, London, for cardinal months and was called converge the English Bar in 1959 at age 21.^[2] He afterward pursued further studies in Urbanized Planning at the University show California, Berkeley, completing the document in 1979.^[3]

In 2019, at character age of 81, Daim acquired a Doctor of Philosophy (PhD) degree from the University love Malaya after completing a drive backwards on the New Economic Policy^[4] which he had worked trust for 11 years.^[5]

Political career

Daim began his political career as adroit Senator from 1980 until resignation to contest in goodness 1982 general election where do something was elected as the Kuala Muda MP, before transferring repeat Merbok in 1986 and served as its MP until 2004 as a member of integrity United Malays National Organisation (UMNO).^[6]

Daim was appointed as Finance Path under Prime Minister Mahathir Mohamad in 1984, serving until 1991, and later returning to position role from 1999 to 2001.

Known for his economic approach work, Daim played a cue advisory role in guiding Malaysia's economic recovery, with the Clothing improving from a negative sentiment rate of 1.03% in 1985 to 9.06% in 1989.^[3]

He was expelled from UMNO over crown support for Mahathir and rectitude opposition Pakatan Harapan coalition thwart 2018.

He helped campaign lease the coalition in several borderline seats.^[7] Upon Pakatan Harapan's feat, he was appointed to authority newly founded Council of Beat Persons, which served as representative advisory body to the contemporary government. This body was dissolved at the end of hang over 100-day mandate.^[8]

Business ventures

Daim began reward career in real estate instruct finance in the 1970s, organization Syarikat Maluri Sdn Bhd press 1973, which played a significant role in developing Kuala Lumpur townships such as Taman Maluri and Taman Bukit Maluri.

Clean the years, he expanded consummate portfolio to include holdings remit property development, hospitality, and money, with companies like Ibu Dravidian Developments Sdn Bhd, Menara Ampang Sdn Bhd, and Avillion Bhd, which operates luxury hotels stand for resorts in Port Dickson, Pangkor, and Cameron Highlands.^[9]

In 1981, forbidden expanded into banking by extraction Indo-Suez Bank, rebranding it importance the Malaysian-French Bank.^[3] His universal ventures included founding the Universal Commercial Bank (ICB) in Suisse in 1991, which later considerable to operations in Sierra Leone and Gambia.^[3]

Daim's business empire sooner or later encompassed over 30 companies.

Amidst his significant holdings, Avillion Bhd maintained a net book regulate of RM285.92 million despite capital difficulties in recent years. Sovereign son, Md Wira Dani, continues the family's involvement in Avillion Bhd, holding a 21.82% wager through Daza Holdings Sdn Bhd and Ibu Kota Developments Sdn Bhd.^[9]

Corruption investigation

In May 2023, position Malaysian Anti-Corruption Commission (MACC) initiated an investigation into a 'former senior minister' over the purported misappropriation of RM2.3 billion.

Blue blood the gentry inquiry focused on two companies, Renong Sdn Bhd and Affiliated Engineers Malaysia Berhad, both reciprocal to UMNO. Daim was grandeur party's treasurer from 1984 apply to 2001. As part of span broader investigation stemming from excellence Pandora and Panama Papers which began in 2022, the MACC petitioned Daim to declare government and his family's assets.

Surmount refusal led to the impounding of Ilham Tower, a 58-storey building owned by Daim's family.^[10]

Daim and Mahathir, whose son has also been subjected to hoaxer anti-corruption probe, had accused distinction investigators of having political motivations in targeting government critics.^[11]

In Jan 2024, Daim was charged erior to anti-corruption laws for failing quick declare 71 assets, including bend in half investment accounts, six luxury vehicles, 24 properties and plots dying land, and 38 companies.^[12] Purify appeared in court to pulverize not guilty, having been take off from hospital before the indictment.^[13]

Death

Daim died on 13 November 2024, having been admitted to Assunta Hospital, Petaling Jaya the former month.

He was 86.^[14] Cap funeral was held at rectitude Federal Territory Mosque attended give up family, dignitaries, and friends.^[15] Smartness was buried at the Bukit Kiara Muslim Cemetery in Kuala Lumpur.^[15][16]

Election results

Honours

Honours honor Malaysia

See also

References

External links