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Daim Zainuddin

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In this Malay name, there is no surname or family name. The name bin Zainuddin is a patronymic, and the person should be referred to by their given name, Daim. The word "bin" or "binti"/"binte" means 'son of' or 'daughter of', respectively.

Yang Amat Berbahagia Tun Dr.
Daim Zainuddin
SSM SPMS SSAP DHMS DGSM
دائم زين الدين‎
Daim in 2018
Minister of Finance
In office
7 January 1999 – 31 May 2001
MonarchsJa'afar
Salahuddin
Prime MinisterMahathir Mohamad
Deputy
Preceded byMahathir Mohamad
Succeeded byMahathir Mohamad
ConstituencyMerbok
In office
14 July 1984 – 15 March 1991
MonarchsIskandar
Azlan Shah
Prime MinisterMahathir Mohamad
Deputy
Preceded byTengku Razaleigh Hamzah
Succeeded byAnwar Ibrahim
ConstituencyMerbok
Member of the Malaysian Parliament
for Merbok
In office
1986–2004
Preceded byNew constituency
Succeeded byZainuddin Maidin
(BN–UMNO)
Majority
Member of the Malaysian Parliament
for Kuala Muda
In office
1982–1986
Preceded byKhir Johari
(BN–UMNO)
Succeeded byConstituency abolished
Majority14,058 (1982)
Personal details
Born
Che Abdul Daim bin Zainuddin[1][2]

(1938-04-29)29 April 1938
Alor Setar, Kedah, Unfederated Malay States, British Malaya (now Malaysia)
Died13 November 2024(2024-11-13) (aged 86)
Petaling Jaya, Selangor, Malaysia
Resting placeBukit Kiara Muslim Cemetery, Kuala Lumpur
Political party
Other political
affiliations		Barisan Nasional (BN) (until 2018)
Pakatan Harapan (PH) (2018–2020)
Spouse(s)Mahani Idris (deceased)
Naimah Khalid[not in body]
Children5
OccupationPolitician, businessman
Websitedaimzainuddin.com

Che Abdul Daim bin Zainuddin (Jawi: چي عبد الدائم بن زين الدين‎; 29 April 1938 – 13 November 2024) was a Malaysian politician and businessman who served as the Minister of Finance from 1984 to 1989 and again from 1999 to 2001 under Mahathir Mohamad. He also served as a Member of Parliament (MP) from 1982 to 2004.[3]

Though not listed in any indexes, Daim was known as one of Malaysia's wealthiest individuals. Daim and his wife were investigated and charged in January 2024 with failing to declare 71 assets as part of an anti-corruption probe that he described as politically motivated.

Early life and education

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Daim Zainuddin was born in Alor Setar, Kedah, British Malaya (now Malaysia). He was the youngest of thirteen siblings. His father, Mohd Zainuddin Hj Senawi, was a clerk in the Kedah State Civil Service, while his mother, Pok Rafeah Binti Ishak, was a homemaker. He received his early education at the Seberang Perak Malay School in Alor Setar. He later attended Sultan Abdul Hamid College, an English-medium school, and completed his upper secondary education at St. Xavier's Institution, George Town, Penang.[3]

Daim's mother supported his aspirations to study law, selling the family's land to fund his education in the United Kingdom. He studied at Lincoln's Inn, London, for eighteen months and was called to the English Bar in 1959 at age 21.[2] He later pursued further studies in Urban Planning at the University of California, Berkeley, completing the program in 1979.[3]

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

Political career

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Daim was elected as the MP for Kuala Muda in 1982 before moving on to Merbok in 1986 and serving as its MP until 2004 as a member of the United Malays National Organisation (UMNO).[6]

Daim was appointed as Finance Minister under Prime Minister Mahathir Mohamad in 1984, serving until 1991, and later returning to the role from 1999 to 2001. Known for his economic policy work, Daim played a key advisory role in guiding Malaysia's economic recovery, with the GDP improving from a negative growth rate of 1.03% in 1985 to 9.06% in 1989.[3]

He was expelled from UMNO over his support for Mahathir and the opposition Pakatan Harapan coalition in 2018. He helped campaign for the coalition in several marginal seats.[7] Upon Pakatan Harapan's victory, he was appointed to the newly founded Council of Eminent Persons, which served as an advisory body to the new government. This body was dissolved at the end of its 100-day mandate.[8]

Business ventures

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Daim began his career in real estate and finance in the 1970s, founding Syarikat Maluri Sdn Bhd in 1973, which played a pivotal role in developing Kuala Lumpur townships such as Taman Maluri and Taman Bukit Maluri. Over the years, he expanded his portfolio to include holdings in property development, hospitality, and materials, with companies like Ibu Kota Developments Sdn Bhd, Menara Ampang Sdn Bhd, and Avillion Bhd, which operates luxury hotels and resorts in Port Dickson, Pangkor, and Cameron Highlands.[9]

In 1981, he expanded into banking by acquiring Indo-Suez Bank, rebranding it as the Malaysian-French Bank.[3] His international ventures included founding the International Commercial Bank (ICB) in Switzerland in 1991, which later extended to operations in Sierra Leone and Gambia.[3]

Daim's business empire ultimately encompassed over 30 companies. Among his significant holdings, Avillion Bhd maintained a net book value of RM285.92 million despite financial difficulties in recent years. His son, Md Wira Dani, continues the family's involvement in Avillion Bhd, holding a 21.82% stake through Daza Holdings Sdn Bhd and Ibu Kota Developments Sdn Bhd.[9]

Corruption investigation

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In May 2023, the Malaysian Anti-Corruption Commission (MACC) initiated an investigation into a 'former senior minister' over the alleged misappropriation of RM2.3 billion. The inquiry focused on two companies, Renong Sdn Bhd and United Engineers Malaysia Berhad, both linked to UMNO. Daim was the party's treasurer from 1984 to 2001. As part of a broader investigation stemming from the Pandora and Panama Papers which began in 2022, the MACC petitioned Daim to declare his and his family's assets. His refusal led to the seizure of Ilham Tower, a 58-storey building owned by Daim's family.[10]

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

In January 2024, Daim was charged under anti-corruption laws for failing to declare 71 assets, including two investment accounts, six luxury vehicles, 24 properties and plots of land, and 38 companies.[12] He appeared in court to plead not guilty, having been discharged from hospital before the indictment.[13]

Death

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Daim died on 13 November 2024, having been admitted to Assunta Hospital, Petaling Jaya the previous month. He was 86.[14] His funeral was held at the Federal Territory Mosque attended by family, dignitaries, and friends.[15] He was buried at the Bukit Kiara Muslim Cemetery in Kuala Lumpur.[15][16]

Election results

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Parliament of Malaysia[17][18]
Year Constituency Candidate Votes Pct Opponent(s) Votes Pct Ballots cast Majority Turnout
1982 P012 Kuala Muda Abdul Daim Zainuddin (UMNO) 21,782 73.82% Gazzhali Dinn (PAS) 7,724 26.18% 30,570 14,058 76.79%
1986 P011 Merbok Abdul Daim Zainuddin (UMNO) 20,712 74.83% Reddhuan Oon (PAS) 6,967 25.17% 28,495 13,745 70.12%
1990 Abdul Daim Zainuddin (UMNO) 25,749 72.22% Mohd Joharrie Abbiddin (S46) 9,906 27.78% 36,831 15,843 72.71%
1995 P014 Merbok Abdul Daim Zainuddin (UMNO) 31,125 77.72% Maherran Muktarr (S46) 8,924 22.28% 41,941 22,201 70.56%
1999 Abdul Daim Zainuddin (UMNO) 30,285 67.01% Mocktar Mansor (KeADILan) 14,909 32.99% 46,599 15,376 73.19%

Honours

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Honours of Malaysia

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See also

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References

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  1. ^ Ahmad Johari Mohd Ali (29 January 2024). "Daim hilang sebelah mata kerana jangkitan kuman". Berita Harian. Retrieved 3 March 2024.
  2. ^ a b "Daim not bothered by his fate; says he worries about the country's future after being charged". The Malaysian Reserve. 29 January 2024. Retrieved 3 March 2024.
  3. ^ a b c d e f "Who was Daim Zainuddin? Finance minister, banker, businessman, adviser (1938–2024)". Malay Mail. 13 November 2024. Retrieved 14 November 2024.
  4. ^ Haji Zainuddin, Che Abdul Daim (2019). The Creation and Implementation of the New Economic Policy: Success and Failure, 1970 – 2008 (PhD thesis). University of Malaya (Malaysia). ProQuest 30597148.
  5. ^ "PhD for Daim Zainuddin on the New Economic Policy". Free Malaysia Today. Bernama. 13 October 2010. Archived from the original on 8 December 2019. Retrieved 21 November 2019.
  6. ^ Times, New Straits (13 November 2024). "Tun Daim Zainuddin dies [WATCH] | New Straits Times". NST Online. Retrieved 13 November 2024.
  7. ^ "Malaysia election: Umno sacks two ex-ministers for backing opposition". New Straits Times. Archived from the original on 8 May 2018. Retrieved 7 May 2018.
  8. ^ "Malaysia's Council of Eminent Persons completes 100 days, to submit recommendations". Channel News Asia. 21 August 2018. Archived from the original on 20 October 2018. Retrieved 21 August 2018.
  9. ^ a b "Poser over Daim's assets". The Star. 14 November 2024. Retrieved 14 November 2024.
  10. ^ "Malaysia's anti-graft agency cracks down on former finance minister Daim, seizes his flagship property Ilham Tower". CNA. Retrieved 13 November 2024.
  11. ^ "As his son faces a graft probe, a Malaysian ex-PM says the government wants to prosecute its rivals". AP News. 22 January 2024. Retrieved 13 November 2024.
  12. ^ "Companies, luxury cars and properties: Assets ex-Malaysia finance minister Daim is accused of not declaring". CNA. Retrieved 13 November 2024.
  13. ^ Eileen Ng (29 December 2023). "Malaysia charges ex-minister for not declaring assets, as graft probe targets Mahathir's allies". Associated Press. Retrieved 31 December 2023.
  14. ^ Zakiah Koya (13 November 2024). "Daim Zainuddin passes away". The Star. Retrieved 13 November 2024.
  15. ^ a b Ishak, Mahani (13 November 2024). "Jenazah Tun Daim selesai disolatkan". Harian Metro (in Malay). Retrieved 13 November 2024.
  16. ^ "Daim laid to rest at Bukit Kiara Muslim cemetery". Malay Mail. 13 November 2024. Retrieved 14 November 2024.
  17. ^ "Keputusan Pilihan Raya Umum Parlimen/Dewan Undangan Negeri" (in Malay). Election Commission of Malaysia. Archived from the original on 6 September 2011. Retrieved 4 February 2017. Percentage figures based on total turnout.
  18. ^ "Malaysia General Election : undiinfo Malaysian Election Data". Malaysiakini. Archived from the original on 15 February 2017. Retrieved 4 February 2017. Results only available from the 2004 election.
  19. ^ "Senarai Penuh Penerima Darjah Kebesaran, Bintang dan Pingat Persekutuan Tahun 1991" (PDF). Archived (PDF) from the original on 8 August 2016. Retrieved 16 June 2016.
  20. ^ a b c "SEMAKAN PENERIMA DARJAH KEBESARAN, BINTANG DAN PINGAT". Prime Minister's Department (Malaysia). Archived from the original on 19 July 2019. Retrieved 18 September 2019.
  21. ^ "SPMS 1997". awards.selangor.gov.my.
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