Daim Zainuddin

{{Infobox officeholder

| honorific-prefix = Yang Amat Berbahagia Tun

| name = Daim Zainuddin

| native_name = {{Script|Arab|دائم زين الدين}}

| honorific-suffix = {{post-nominals|country=MYS|size=100|SSM|SPMS|SSAP|DHMS|DGSM}}

| image =

| image_size =

| caption = Daim in 2018

| office1 = Minister of Finance

| deputy2 = {{Unbulleted list|Sabbaruddin Chik

|Oo Gin Sun

|Ng Cheng Kiat

|Wan Abu Bakar Wan Mohamad|Loke Yuen Yow

|Abdul Ghani Othman
{{small|(1990–1991)}}}}

| constituency2 = Merbok

| monarch2 = Iskandar
Azlan Shah

| term_start2 = 14 July 1984

| term_end2 = 15 March 1991

| primeminister2 = Mahathir Mohamad

| predecessor2 = Tengku Razaleigh Hamzah

| successor2 = Anwar Ibrahim

| monarch1 = Ja'afar
Salahuddin

| term_start1 = 7 January 1999

| term_end1 = 31 May 2001

| constituency1 = Merbok

| deputy1 = {{Unbulleted list|Wong See Wah
{{small|(1999)}}

|Mohamed Nazri Abdul Aziz
{{small|(1999)}}

|Shafie Salleh
{{small|(1999–2001)}}

|Chan Kong Choy
{{small|(1999–2001)}}}}

| primeminister1 = Mahathir Mohamad

| predecessor1 = Mahathir Mohamad

| successor1 = Mahathir Mohamad

| constituency_MP3 = Merbok

| parliament3 = Malaysian

| term_start3 = 2/3 August 1986

| term_end3 = 21 March 2004

| predecessor3 = New constituency

| successor3 = Zainuddin Maidin
(BN–UMNO)

| majority3 = {{Plainlist|

13,745 (1986)
15,843 (1990)
22,201 (1995)
15,376 (1999)

}}

| constituency_MP4 = Kuala Muda

| parliament4 = Malaysian

| term_start4 = 1982

| term_end4 = 1986

| predecessor4 = Khir Johari
(BN–UMNO)

| successor4 = Constituency abolished

| majority4 = 14,058 (1982)

| birth_name = Che Abdul Daim bin Zainuddin{{cite web|url=https://www.bharian.com.my/berita/nasional/2024/01/1206062/daim-hilang-sebelah-mata-kerana-jangkitan-kuman|title=Daim hilang sebelah mata kerana jangkitan kuman|author=Ahmad Johari Mohd Ali|work=Berita Harian|date=29 January 2024|access-date=3 March 2024}}{{cite web|url=https://themalaysianreserve.com/2024/01/29/daim-not-bothered-of-his-fate-said-he-worries-about-the-countrys-after-charged/|title=Daim not bothered by his fate; says he worries about the country's future after being charged|work=The Malaysian Reserve|date=29 January 2024|access-date=3 March 2024}}

| birth_date = {{birth date|1938|4|29|df=y}}

| birth_place = Alor Setar, Kedah, Unfederated Malay States, British Malaya (now Malaysia)

| death_date = {{death date and age|df=y|2024|11|13|1938|4|29}}

| death_place = Petaling Jaya, Selangor, Malaysia

| resting_place = Bukit Kiara Muslim Cemetery, Damansara, Kuala Lumpur

| party = {{Plainlist|

United Malays National Organisation (UMNO)
{{small|(until 2018)}}
Malaysian United Indigenous Party (BERSATU)
{{small|(2018–2020)}}
Independent
{{small|(2020–2024)}}

}}

| otherparty = Barisan Nasional (BN)
{{small|(until 2018)}}
Pakatan Harapan (PH)
{{small|(2018–2020)}}

| occupation = Politician, Businessman

| spouse = Mahani Idris {{small|(died 2023)}}
Naimah Khalid{{not verified in body|date=April 2025}}

| children = 5

| website = {{URL|http://daimzainuddin.com/}}

| footnotes =

| citizenship = {{MAS}}

| alma_mater = Lincoln's Inn
University of California, Berkeley
University of Malaya

}}

Che Abdul Daim bin Zainuddin ({{langx|ms-Arab|چئ عبدالدائم بن زين الدين‎|label=Jawi}}; 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 Prime Minister Mahathir Mohamad. He also served as a Member of Parliament (MP) from 1982 to 2004 and as a Senator from 1980 to 1982.{{cite news |title=Who was Daim Zainuddin? Finance minister, banker, businessman, adviser (1938–2024) |url=https://www.malaymail.com/news/malaysia/2024/11/13/who-was-daim-zainuddin-finance-minister-banker-businessman-adviser-1938-2024/156720 |date=13 November 2024 |work=Malay Mail |access-date=14 November 2024 |language=en}}

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

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.

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. He later pursued further studies in Urban Planning at the University of California, Berkeley, completing the program in 1979.

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{{cite thesis |last=Haji Zainuddin |first=Che Abdul Daim |title=The Creation and Implementation of the New Economic Policy: Success and Failure, 1970 – 2008 |publisher=University of Malaya (Malaysia) |year=2019 |id=ProQuest 30597148 |type=PhD thesis}} which he had worked on for 11 years.{{cite news |date=13 October 2010 |title=PhD for Daim Zainuddin on the New Economic Policy |work=Free Malaysia Today |agency=Bernama |url=https://www.freemalaysiatoday.com/category/nation/2019/10/12/phd-for-daim-zainuddin-on-the-new-economic-policy/ |url-status=live |access-date=21 November 2019 |archive-url=https://web.archive.org/web/20191208085227/https://www.freemalaysiatoday.com/category/nation/2019/10/12/phd-for-daim-zainuddin-on-the-new-economic-policy/ |archive-date=8 December 2019 |language=en}}{{cite news |last=Rahim |first=Sarah |title=Daim gets PhD 11 years later |url=https://www.nst.com.my/news/nation/2019/10/529497/daim-gets-phd-11-years-later |date=13 October 2019 |work=New Straits Times |access-date=5 April 2025}}

Political career

Daim began his political career as a Senator from 1980 until his resignation to contest in the 1982 general election where he was elected as the Kuala Muda MP, before transferring to Merbok in 1986 and served as its MP until 2004 as a member of the United Malays National Organisation (UMNO).{{Cite web |last=Times |first=New Straits |date=13 November 2024 |title=Tun Daim Zainuddin dies [WATCH] {{!}} New Straits Times |url=https://www.nst.com.my/news/nation/2024/11/1133649/tun-daim-zainuddin-dies-watch |access-date=13 November 2024 |website=NST Online |language=en}}

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.

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.{{cite news|url=https://www.straitstimes.com/asia/se-asia/umno-sacks-two-ex-ministers-for-backing-opposition/|access-date=7 May 2018|work=New Straits Times|title=Malaysia election: Umno sacks two ex-ministers for backing opposition|archive-url=https://web.archive.org/web/20180508024535/https://www.straitstimes.com/asia/se-asia/umno-sacks-two-ex-ministers-for-backing-opposition|archive-date=8 May 2018|url-status=live |language=en}} 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.{{cite news |url=https://www.channelnewsasia.com/news/asia/malaysia-s-council-of-eminent-persons-completes-100-days-to-10636614|date=21 August 2018|publisher=Channel News Asia|title=Malaysia's Council of Eminent Persons completes 100 days, to submit recommendations|access-date=21 August 2018|archive-url=https://web.archive.org/web/20181020215941/https://www.channelnewsasia.com/news/asia/malaysia-s-council-of-eminent-persons-completes-100-days-to-10636614|archive-date=20 October 2018|url-status=live |language=en}}

Business ventures

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.{{cite news |title=Poser over Daim's assets |url=https://www.thestar.com.my/business/business-news/2024/11/14/poser-over-daims-assets |date=14 November 2024 |work=The Star |access-date=14 November 2024 |language=en}}

In 1981, he expanded into banking by acquiring Banque Indosuez's local branches, rebranding it as the Malaysian-French Bank, which later became Alliance Bank. His international ventures included founding the International Commercial Bank (ICB) in Switzerland in 1991, which later extended to operations in Sierra Leone and Gambia.

Daim's business empire ultimately encompassed over 30 companies at the time of his death. 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.

Corruption investigation

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.{{Cite web |title=Malaysia's anti-graft agency cracks down on former finance minister Daim, seizes his flagship property Ilham Tower |url=https://www.channelnewsasia.com/asia/malaysia-daim-anwar-ilham-tower-umno-4004501 |access-date=13 November 2024 |website=CNA |language=en}}

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.{{Cite web |date=22 January 2024 |title=As his son faces a graft probe, a Malaysian ex-PM says the government wants to prosecute its rivals |url=https://apnews.com/article/malaysia-corruption-mahathir-son-pandora-papers-430441c5b3205fc260c23c2118cef9df |access-date=13 November 2024 |website=AP News |language=en}}

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.{{Cite web |title=Companies, luxury cars and properties: Assets ex-Malaysia finance minister Daim is accused of not declaring |url=https://www.channelnewsasia.com/asia/malaysia-daim-assets-condos-luxury-cars-land-companies-hotels-kl-pandora-papers-4081871 |access-date=13 November 2024 |website=CNA |language=en}} He appeared in court to plead not guilty, having been discharged from hospital before the indictment.{{Cite web |author=Eileen Ng |date=29 December 2023 |title=Malaysia charges ex-minister for not declaring assets, as graft probe targets Mahathir's allies |url=https://apnews.com/article/malaysia-graft-former-minister-daim-mahathir-128bb199b9dd15d3aebb097ef19e6932 |access-date=31 December 2023 |website=Associated Press |language=en}}

Investigations into Daim have continued past his death, with assets previously belonging to him, his family, as well as his proxies being seized by the MACC.{{Cite web |date=2025-05-22 |title=MACC in process of seizing late Daim's assets worth billions |url=https://www.thestar.com.my/news/nation/2025/05/22/macc-in-process-of-seizing-late-daim039s-assets-worth-billions |access-date=2025-06-03 |website=The Star |language=en}}{{Cite web |date=2025-06-03 |title=Court allows MACC to seize more assets belonging to Daim's family |url=https://www.malaysiakini.com/news/745082 |access-date=2025-06-03 |website=Malaysiakini}}

Death

Daim died on 13 November 2024, having been admitted to Assunta Hospital, Petaling Jaya the previous month. He was 86.{{Cite web |author=Zakiah Koya |date=13 November 2024 |title=Daim Zainuddin passes away |url=https://www.thestar.com.my/news/nation/2024/11/13/tun-daim-passes-away |access-date=13 November 2024 |website=The Star |language=en}} His funeral was held at the Federal Territory Mosque attended by family, dignitaries, and friends.{{cite news |last=Ishak |first=Mahani |title=Jenazah Tun Daim selesai disolatkan |url=https://www.hmetro.com.my/mutakhir/2024/11/1154644/jenazah-tun-daim-selesai-disolatkan |date=13 November 2024 |website=Harian Metro |access-date=13 November 2024 |language=ms}} He was buried at the Bukit Kiara Muslim Cemetery in Kuala Lumpur.{{cite news |title=Daim laid to rest at Bukit Kiara Muslim cemetery |url=https://www.malaymail.com/news/malaysia/2024/11/13/daim-laid-to-rest-at-bukit-kiara-muslim-cemetery/156783 |date=13 November 2024 |work=Malay Mail |access-date=14 November 2024 |language=en}}

Election results

class="wikitable" style="margin:0.5em ; font-size:95%"

|+ Parliament of Malaysia{{cite web|url=http://semak.spr.gov.my/spr/laporan/5_KedudukanAkhir.php|title=Keputusan Pilihan Raya Umum Parlimen/Dewan Undangan Negeri|publisher=Election Commission of Malaysia|language=ms|access-date=4 February 2017|archive-url=https://web.archive.org/web/20110906083741/http://semak.spr.gov.my/spr/laporan/5_KedudukanAkhir.php|archive-date=6 September 2011|url-status=live}} Percentage figures based on total turnout.{{Cite web

| title = Malaysia General Election : undiinfo Malaysian Election Data

| work= Malaysiakini

| url = http://undi.info/kedah/

| access-date = 4 February 2017

| archive-url = https://web.archive.org/web/20170215032543/https://undi.info/kedah

| archive-date = 15 February 2017

| url-status = live

}} Results only available from the 2004 election.

!|Year

!|Constituency

! colspan=2|Candidate

!|Votes

!|Pct

! colspan=2|Opponent(s)

!|Votes

!|Pct

!|Ballots cast

!|Majority

!|Turnout

1982

| P012 Kuala Muda

| {{Party shading/Barisan Nasional}} |

|{{nowrap| Abdul Daim Zainuddin}} (UMNO)

| align="right" |21,782

|73.82%

| {{Party shading/PAS}} |

|Gazzhali Dinn (PAS)

| align="right" |7,724

|26.18%

|30,570

|14,058

|76.79%

1986

| rowspan="2" |P011 Merbok

| {{Party shading/Barisan Nasional}} |

|{{nowrap|Abdul Daim Zainuddin}} (UMNO)

| align="right" |20,712

|74.83%

| {{Party shading/PAS}} |

|Reddhuan Oon (PAS)

| align="right" |6,967

|25.17%

|28,495

|13,745

|70.12%

1990

| {{Party shading/Barisan Nasional}} |

|{{nowrap|Abdul Daim Zainuddin}} (UMNO)

| align="right" |25,749

|72.22%

| {{Party shading/S46}} |

|Mohd Joharrie Abbiddin (S46)

| align="right" |9,906

|27.78%

|36,831

|15,843

|72.71%

1995

| rowspan="2" |P014 Merbok

| {{Party shading/Barisan Nasional}} |

|{{nowrap|Abdul Daim Zainuddin}} (UMNO)

| align="right" |31,125

|77.72%

| {{Party shading/S46}} |

|Maherran Muktarr (S46)

| align="right" |8,924

|22.28%

|41,941

|22,201

|70.56%

1999

| {{Party shading/Barisan Nasional}} |

|{{nowrap|Abdul Daim Zainuddin}} (UMNO)

| align="right" |30,285

|67.01%

| {{Party shading/Keadilan}} |

|Mocktar Mansor (KeADILan)

| align="right" |14,909

|32.99%

|46,599

|15,376

|73.19%

Honours

=Honours of Malaysia=

{{flag|Malaysia}}:
50px Grand Commander of the Order of Loyalty to the Crown of Malaysia (SSM) – Tun (1991){{cite web|url=http://www.istiadat.gov.my/v8/images/stories/1991.pdf|title=Senarai Penuh Penerima Darjah Kebesaran, Bintang dan Pingat Persekutuan Tahun 1991.|access-date=16 June 2016|archive-url=https://web.archive.org/web/20160808002711/http://www.istiadat.gov.my/v8/images/stories/1991.pdf|archive-date=8 August 2016|url-status=live}}
{{flag|Kedah}}:
50px Knight Commander of the Order of Loyalty to Sultan Abdul Halim Mu'adzam Shah (DHMS) – Dato' Paduka (1988){{cite web|access-date=18 September 2019|url=http://www.istiadat.gov.my/index.php/component/semakanlantikanskp/|title=SEMAKAN PENERIMA DARJAH KEBESARAN, BINTANG DAN PINGAT|publisher=Prime Minister's Department (Malaysia)|archive-url=https://web.archive.org/web/20190719195551/http://www.istiadat.gov.my/index.php/component/semakanlantikanskp|archive-date=19 July 2019|url-status=live}}
{{flag|Malacca}}:
50px Grand Commander of the Order of Malacca (DGSM) – Datuk Seri (2001)
{{flag|Pahang}}:
50px Grand Knight of the Order of Sultan Ahmad Shah of Pahang (SSAP) – Dato' Sri (1988)
{{flag|Selangor}}:
50px Knight Grand Commander of the Order of the Crown of Selangor (SPMS) – Dato' Seri (1997){{cite web|url=https://awards.selangor.gov.my/sublinkyear.php?cat=18&subcat=S.P.M.S.|title=SPMS 1997|website=awards.selangor.gov.my}}

References

External links

[http://daimzainuddin.com/ Official website]
[https://web.archive.org/web/20080612124333/http://www.malaysia.net/lists/sangkancil/1998-09/msg01319.html Malaysia.net]

{{Grand Commander of the Order of Loyalty to the Crown of Malaysia}}

Category:1938 births

Category:2024 deaths

Category:People from Alor Setar

Category:Malaysian politicians of Malay descent

Category:Malaysian Muslims

Category:Malaysian businesspeople

Category:Malaysian economists

Category:20th-century Malaysian judges

Category:Former Malaysian United Indigenous Party politicians

Category:Former United Malays National Organisation politicians

Category:Members of the Dewan Negara