PETALING JAYA: Daim Zainuddin’s legal troubles seem to have had a negligible impact on the companies in his stable.
For instance Avillion Bhd, of which his family is a substantial shareholder, saw its share price decline by just 0.05 sen, or 8.3%, to 5.5 sen in early trading today.
Avillion is one of 23 companies listed among the 71 assets belonging to the former finance minister when he was charged in court yesterday for failing to comply with a Malaysian Anti-Corruption Commission (MACC) notice requiring him to declare his assets.
According to a Berita Harian report today, the Avillion share price peaked at 78.5 sen in 2021 before declining to an all-time low of three sen on March 19, 2020.
Among the other companies that also appeared in court documents relating to the charge against Daim are Ibu Kota Developments Sdn Bhd, Maya Seni Holdings Sdn Bhd, Menara Ampang Sdn Bhd, Dream Cruiser Sdn Bhd, Landbelt Corporation Sdn Bhd, Avillion Hotel Group, Admiral Cove Development Sdn Bhd and Avillion Hotels International Sdn Bhd.
The largest shareholder of Avillion is Daim’s son Dani Abdul Daim who holds a 21.82% stake through Ibu Kota Developments and Daza Holdings Sdn Bhd, the Berita Harian report said.
Avillion is involved in the tourism industry, hotels and properties in Malaysia as well as abroad.
If found guilty Daim, 85, is liable to a fine not exceeding RM100,000 or a jail term not exceeding five years.
The former Umno treasurer and MP for Merbok, who was accompanied by his wife Naimah Khalid, appeared in the courtroom in a wheelchair.
