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Showing posts with the label UEM

Anwar's Big Daim Move

In the wild world of Malaysian politics, Prime Minister Anwar Ibrahim's recent crackdown on corruption, specifically targeting former finance bigwig Daim Zainuddin, has caused a stir across political circles. The move, highlighted by the freezing of Daim's family-owned Ilham Tower at the end of 2023, seems like Anwar's way of saying, "No one is too big to be checked." Ilham Tower, a ritzy symbol to the prosperity of Malaysia’s 80-90s and valued at a cool US$580 million, became the center of attention when Daim refused to spill the beans on his assets. For some, Anwar's no-nonsense approach sends a clear message that even the big shots can't escape the spotlight. His current troubles stem from MACC poking around in alleged embezzlement dating back to a 1997 deal involving Renong and United Engineers Malaysia Bhd (UEM). Revisiting the UEM-Renong deal, wrapped in mystery after 26 years, is no walk in the park for MACC investigators. Theories are flying, with ...