Report: Multimillion-ringgit London office linked to Daim pulled from sale

An office building in London, linked to the family of former finance minister Daim Zainuddin, has been withdrawn from sale, according to Bloomberg yesterday.

The report said it was based on documents Bloomberg News had sighted.

The building, located at 1 Crown Court on Cheapside, about 400m from St Paul’s Cathedral, was put up for sale for £28.6 million (RM171.41 million) last year.

Sources privy to the matter stated that talks to close the deal fell through after an outline deal was agreed with an investor earlier this year.

According to the news report, records from the UK Land Registry showed the building is owned by a British Virgin Islands-registered company called Straits Properties Ltd.

It is a company owned by a trust, in which Daim’s wife is a beneficiary, the International Consortium of Investigative Journalists reported in January.

READ MORE: How Daim, M’sia’s uber-rich use S’pore to store money offshore

A representative for the family declined to comment on the matter.

According to Bloomberg, Straits Properties bought the office building in 2014 for £31.5 million.

READ MORE: Another Daim-linked trust worth hundreds of millions revealed in new leak

Charges

On Jan 29, Daim claimed trial for failing to abide by a MACC notice to disclose his assets encompassing 38 firms, 25 pieces of land and property, seven luxury vehicles, and two investment fund accounts.

The former Umno leader made the plea when he was charged under Section 36(2) of the MACC Act 2009 at the Kuala Lumpur Sessions Court.

The tycoon was alleged to have committed the offence by giving a sworn written statement that did not comply with the MACC notice under Section 36(1)(a) of the same law.

Accused of committing the offence between Dec 13 and 14 last year, the 85-year-old may be jailed for up to five years and fined up to RM100,000.

Earlier on Jan 23, his wife Na’imah Abdul Khalid was also charged with failing to abide by a MACC notice to disclose her assets.

She was charged under Section 36(2) of the MACC Act 2009 at the Kuala Lumpur Sessions Court.

The 66-year-old was alleged to have committed the offence by giving a sworn written statement that did not comply with the MACC notice under Section 36(1) of the MACC Act.

Na’imah was accused of committing the offence between Dec 13 and 14 last year and may get jailed for up to five years and fined up to RM100,000.

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