De mortuis nil nisi bonum
Of the dead nothing but good is to be said
In common parlance, its "Don't speak ill of the dead". Its disrespectful to speak ill or anything bad of the deceased because they are not able to defend themselves.
Life in the temporal world has ended. Their worldly affair has ended. The the fate of their soul is the affair of God. It is history that will make an assessment or for lack of a better word, judgement for their deed to mankind.
To Muslims, the noble act is to pray to Allah for forgiveness, mercy and protection for the deceased and grant them honourable reception.
On that note, Al Fatihah prayers for Allahyarham Tun Daim Zainuddin.
Passing of Daim
The former Finance Minister passed away in the morning last Thursday November 13th and was laid to rest at the Bukit Kiara Muslim Cemetary in the evening.
Accolades of respect have been pouring in for his past contributions to the nation in his various positions and personal philantrophy.
Unfortunately, there are those who view it as weird that suddenly in death you can't speak ill of the deceased or say anything bad.
They took the attitude that as though when they die all the bad stuff they did gets forgotten or pushed aside and just cause someone is dead doesn't make them a bad person anymore.
Its truly disheartening to see such impertinent attitude.
Though it was a subtle attempt to politicise his death, its understandable of Mahathir's disappointment and anguish with the unscathing remarks made against Daim on the day of his death.
The tone of his You Tube statement to pay tribute to the late Daim reflected his sadness.
Disregard for ettiquette
However, former MACC Chief Commissioner during Mahathir's second Premiership and partner in Daim & Gamany law firm, Latheefa Koya came under fire for calling "those saying good things about the dead as taught by the Prophets" as sheer hypocrasy.
That is a total disregard of Islamic etiquette of putting aside differences to praise and acknowledge contribution of the dead by the daughter of owner of Jayakerala Publications, an Islamic book publisher for the Malayalee Muslim community in Malaysia.
Mahathir displayed a similar attitude to defend Latheefa Koya against public attack of her. He doubled down to defend past opinion and actions of Daim that was heavily criticised for decades.
Its a provocative view meant to infuriate a segment of the public and pit one segment against the other. Daim's soul will find no peace by reopening past societal wounds and invite negative discussion of his past.
Poser over assets
Its understandably difficult to keep a lid on public discussion on such formidable and controversial personality.
More so there was the poser over his assets and outstanding court affair, in which according sources, the late Daim and wife Na'imah refused to cooperate and respect the authority.
The Star was uncouth to raise the issue the next day after his death (article reproduced at the bottom).
Wife Na'imah responded this week to insist the case against Daim should not be withdrawn to enable him to receive justice. She accused Anwar of attempting to hide behind Daim's death.
That drama ensued with Mahathir and Pejuang lawyer, Rafique Rashid Ali echoing the same.
Rafique insisted MACC answer whether Daim's money are from stolen source. He is also Information Chief of Pejuang and was clearly riding on Daim's death to politicise MACC.
Mahathir out of vengence.
Challenging MACC and AMLA
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| MCA former Youth Chief in 2019 |
Latheefa had earlier alleged MACC to be a tool for political vengence.
She failed to realise there are segment of the public who remembers her release of confidential audio tapping without authorisation from the court which is in contravention with the Criminal Procedure Code.
On the day of Daim's death, Azam Baki responded to media enquiry to explain that it is the decision of the DPP. MACC is merely the investigator.
On Wednesday, the court acquited the late Daim. Lawyers' groups support the court decision to discharge. Obviously, the case cannot proceed without the accused able to present himself when called upon by the court.
Strangely, Raj & Sach formally opposed the judge's decision to withdraw. It does not compute to the lawyer, family and political comrade to allow Daim's soul the eternal rest from worldly burden.
His lawyer Datuk Dr Gurdial Singh Nijar claimed that till his last days in Assunta Hospital, Daim wanted to clear his name.
Gurdial insisted on questioning the constitutionality of AMLA and intend to pursue the case all the way to the Court of Appeal and Federal Court.
Interesting that the constitutionality of AMLA did not arise when they politicise the 1MDB case and applied AMLA at will. Despite manipulating judges' line-up, influencing prosecution and investigation, there are more victims than convictions.
Naturally, the prospect of RM2 million legal fee is hard to resist.
Na'imah gets her way
Since Na'imah is keen for cases to continue, her wishes were fulfilled and her prosecution proceeded. If found guilty for not complying with MACC notice, she may land herself in prison up to 5 years and a fine of rm100,000.
In another case, Na'imah has a temporary stay from the Court of Appeal over the Shah Alam High Court’s rejection of her application for a stay of having to pay the Inland Revenue Board (IRB) RM313.82 million in additional tax assessment for the year 2018.
According Edge, "Normally, an applicant is required to pay to the IRB the additional tax within 30 days of the IRB’s notice, failing which the IRB can institute bankruptcy proceedings."
It will raise questions among Najib diehards on the impartiality of the higher courts.
Na'imah featured in corporate watch radar for decades, especially during the late 90s financial crisis. One wonders whether shares of Alliance Bank under her name from conversion.of KLCSC were actually her's.
To this day, the "real" reason behind the force merger of banks and financial institutions into 6 major financial groups in 1999-2000 will never be made known publicly except by the few who lived long enough to talk.
Politicising Daim's death
Its a continuation of Penyatuan Melayu forum in Kuala Lumpur last month in which Mahathir apologist and Perkasa President, Syed Hassan was among the panel.
Syed Hasan is appearing in the Bicara Satu Suara event in Perak this weekend.
Obviously Mahathir is politicising Daim's death to the hilt to popularise himself and riding on the old school Malay sentiment.
Here we go again.
Not so obvious to political newbies but its not about the Malays. Its only for the pursuit of power and reward of power.
The issues raised remain the same recycled ones.
From Malay Reserve land to general Malay's economic malaise; failure of NEP, and backward hinterland Malay states under PAS; national language status to Malay political disunity and loss in political leverage, all were Mahathir own failures.
It was 22 years of his neglect, greed and endless intentionally instigated crises. Add too his 22 months of destruction.
Daim is privately aware. He left written exposes due for release upon Mahathir's demise. His close confidantes has explicitly expressed loss of confidance in Mahathir.
One can expect the Daim episode will continue to prolong at a time the country is facing strong headwinds and need to move away from this never ending feud of the nation's dinosaurs.
May you rest in peace from this worldly affair, Tun Daim.
---------------------------
Star Online reported, below:
Poser over Daim’s assets
By CECILIA KOK
The Star, Thursday, 14 Nov 2024
PETALING JAYA: The passing of former Finance Minister Tun Daim Zainuddin at the age of 86 marks the end of an era for a man whose life intertwined public service with formidable wealth accumulation.
A renowned-yet-reclusive businessman, Daim had amassed a substantial empire, encompassing over 30 companies.
However, the fate of some of these assets has come under scrutiny, as legal proceedings initiated by the Malaysian Anti-Corruption Commission (MACC) over undeclared assets remain unresolved.
Daim’s business empire spans property development, hospitality and material industries, with entities like Ibu Kota Developments Sdn Bhd, Menara Ampang Sdn Bhd and Avillion Bhd at its core.
Avillion, known for its luxury Avillion Hotel chain, has recently struggled financially, enduring losses for over eight years.
However, its assets, including hotels and resorts in Port Dickson, Pangkor and Cameron Highlands, contribute a significant net book value of RM285.92mil, making it a notable jewel in Daim’s portfolio.
Beyond Avillion, Daim’s lesser-known holdings also reveal intriguing financial dynamics. For instance, among the 14 privately held companies cited in the MACC probe, only a handful have been consistently profitable, according to media reports, while most others have remained loss-making, hinting at the complexities involved in Daim’s sprawling business empire and the potential implications for his heirs and associates.
“The death of Daim signals not just the end of a significant era in Malaysian finance but raises questions about the fate of his complex business empire.
“With his assets woven across various industries and under scrutiny from regulatory bodies, Daim’s legacy is set to challenge his heirs as they navigate both the immense opportunities and legal intricacies left in his wake,” one financial analyst told StarBiz.In January, Daim and his family sought judicial review to challenge the MACC’s investigation into his finances. The investigation, launched following revelations in the Pandora Papers, accused Daim of failing to declare numerous assets, including properties, vehicles and companies spread across Malaysia and abroad.
Daim, who pleaded not guilty, claimed these assets were acquired legitimately well before his political career, stating that his wealth was amassed through business ventures dating back to the 1970s.
Despite his protestations, the MACC’s probe has raised questions about the governance of Daim’s extensive holdings. His name rarely appears as a direct shareholder in any of his privately held companies, an observation which some experts argue indicates a deliberate choice to maintain a discreet presence in the corporate landscape.
Notably, his late wife, Toh Puan Mahani Idris, and son, Datuk Md Wira Dani, appear in key positions across several of his companies, including Alun-Alun Resort (M) Sdn Bhd and Maya Seni Holdings Sdn Bhd.
Daim’s legacy is not limited to financial assets but extends through his family members who play critical roles in sustaining his corporate interests.
His son, Wira Dani, is the largest shareholder of Avillion Bhd, with a 21.82% stake held via Daza Holdings Sdn Bhd and Ibu Kota Developments Sdn Bhd. Having held this position since 2016, Wira Dani’s role underscores the family’s ongoing influence within the company, despite its recent financial difficulties.
Interestingly, Daim’s family has actively sought legal relief from MACC investigations, filing for judicial review to challenge the probe on grounds of constitutionality and fairness.
They argue that the MACC’s investigation lacks reasonable grounds and point to Daim’s longstanding, publicly known business interests as evidence of his legitimate wealth.
From his pivotal role in creating landmark real estate developments like Taman Maluri and Taman Bukit Maluri in the 1970s to his contributions to finance through controlling stakes in companies such as RHB Bank, Daim’s influence shaped key sectors of the economy.
His foray into international banking with the establishment of ICB Financial Group Holding and his investment in Bank Internasional Indonesia further expanded his business footprint globally.
Analysts have speculated on how Daim’s passing might impact his business empire, given the ongoing legal complications and the complex structure of his holdings, one fund manager observed.
“Daim’s successors face a daunting task: to preserve his financial influence amid ongoing regulatory probes, setting the stage for what could be a pivotal moment in Malaysian corporate governance and transparency,” he stated.
If MACC investigations result in asset freezes or seizures, the operational continuity of several businesses may be threatened, potentially impacting their employees and stakeholders.
Records showed Daim’s son, Wira Dani, already plays a significant role, holding substantial shares in Avillion and other property holdings. However, with MACC investigations ongoing, the family may face additional challenges if asset declarations or management come under further scrutiny.
While Daim’s legacy in Malaysian finance and property development remains indelible, his later years have been shadowed by legal disputes and scrutiny.
His image as a business tycoon with powerful political alliances was long established, owing in part to his advisory role to former Prime Minister Tun Dr Mahathir Mohamad. Daim’s critics often cite his substantial wealth as a product of his political influence, a narrative he refuted by emphasising the financial losses incurred due to his shift from business to public office.
Indeed, Daim recently noted in a supporting affidavit that he would have acquired even greater wealth had he remained exclusively in the private sector.
In January, he reportedly said that if he had stayed in business and done nothing to actively grow his assets, the value of his liquid stock holdings alone would be worth more than RM50bil.
“My decision to join the government and serve my country came at great financial loss to myself and my family,” Daim said, without revealing his current net worth.
Daim served as Finance Minister from 1984-1991 and again from 1999-2001, playing a key role in the-then Prime Minister Dr Mahathir’s administration in transforming Malaysia into a modern industrial nation.
He was appointed to lead an advisory body, the Council of Eminent Persons, when Dr Mahathir returned as Prime Minister under Pakatan Harapan in 2018.
As the government moves to curb financial misconduct, Daim’s case could set a precedent. His assets, if subjected to regulatory intervention or revaluation, may reveal discrepancies that could amplify public calls for transparency in the wealth management practices of prominent figures, one analyst said, noting Daim’s empire serves as a complex reminder of how wealth and power intersect in the lives of public figures.
For some, Daim’s legacy is one of privilege shrouded in secrecy, with assets woven into an intricate web that raises questions about accountability.
But for many, Daim will be remembered as a financial architect of Malaysia’s development, whose strategic policies helped shape the nation.
Related stories:
Daim’s contributions acknowledged
Moment of silence observed in Dewan Rakyat
Daim a key player in politics and business
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