KUALA LUMPUR, Dec 21 — Former finance minister Tun Daim Zainuddin had one of his properties seized by the Malaysian Anti-Corruption Commission (MACC).

According to Singapore-based CNA, Ilham Tower owned by Daim was seized by MACC after the latter’s extension on disclosing financial details requested by the MACC had lapsed.

According to the news report, Daim was told to furnish MACC with his financial holdings and other assets belonging to his family but had failed to do so promptly. He had sought extensions and asked that MACC disclose the reasons for requesting an asset declaration.

Daim had also asked for clarification as to what offences he was being investigated under. The article further claimed that sources had disclosed that Daim had received a notification from the MACC in early December that his request for an extension was denied and the building was subsequently seized.

The report said that under the seizure order, the MACC will take control of the property on paper.

In May, the MACC reported it had opened investigation papers into several business figures and individuals with "Tan Sri” titles including former senior ministers about the embezzlement of national funds amounting to RM2.3 billion.

It had then frozen 192 bank accounts, including 35 company accounts and 157 individual accounts related to the case.

All of them were served notices following Section 36 of the MACC Act 2009 and Section 44 of the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001, MACC said then.

According to CNA, the funds involved publicly-listed Renong Bhd and United Engineers Malaysia Bhd (UEM), two entities tied to Umno.

The 60-storey Ilham Tower is located on Jalan Binjai near the Kuala Lumpur City Centre and the Petronas Twin Towers.

Among others, it hosts the Ilham Gallery and the Element Kuala Lumpur hotel.

Citing Companies Commission of Malaysia documents, CNA said the building is owned by Ilham Tower Sdn Bhd, a subsidiary of a private company called Ilham Baru Sdn Bhd — controlled by Daim's wife Na’imah Abdul Khalid and his two sons, Mohammed Amin Zainuddin and Muhammed Amir Zainuddin.

* A previous version of this story contained errors which have since been corrected.