The Pandora Papers is a set of document obtained by the International Consortium of Investigative Journalists (ICIJ) on tax havens preferred by the rich and powerful. Having said that, it is also what these prominent figures would not have wanted the public to have knowledge about it.
In the latest discovery, the former Finance Minister, Tun Daim Zainuddin’s family members was among those mentioned in the Pandora Papers, which is said to have business dealings offshore.
Meanwhile, MalaysiaKini had an in-depth coverage on the matter, reported both of Daim’s sons, Muhammad Amir Zainuddin Daim and Muhammad Amin Zainuddin Daim were reported as shareholders in the Newton Invest & Finance Limited in the British Virgin Isles (BVI), along with Naimah Khalid (their mother and Daim’s third wife).
The company was reported to own properties in London worth £10 million in 2017.
On the other hand, the other company that both the brothers own also showed that they are the owners of several offshore firms, including Splendid International Ltd which has properties worth £12 million.
Besides, the report also shows that their mother, along with the sons are shareholders in multiple firms in London, which is in the business of investment or property management.
Nonetheless, the total assets which was held by Daim’s family and known business associates jointly were worth at least £25 million (about RM141 million).
However, Daim has called out to MalaysiaKini’s for their latest report, calling it an “endless obsession”.
He said that not all the trustees listed were his and stressed that all the transactions he conducted were legitimate. He added that trustee was part of the “estate planning” since he had retired from the business.
Daim then said that the report from MalaysiaKini is implying innuendo and speculative misconduct were “unprofessional” and an attempt to tarnish his reputation.
Meanwhile, FMT reported that ICIJ will be leaking more documents in the coming days, months or even years as they continues to dissect the 12 million files they’ve obtained.
The investigation was touted as the “most expansive exposé of financial secrecy yet” as it involves more than 600 journalists from 117 countries.
It has been 5 years after ICIJ published the Panama Papers, which cited the documents allegedly belonging to Panamanian law firm Mossack Fonseca to assert that some national leaders and their confidants used offshore banking to conceal their fortunes.
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