KUALA LUMPUR (Jan 30): After falling into the limelight due to being listed as one of the assets former finance minister Tun Daim Zainuddin failed to declare to the Malaysian Anti-Corruption Commission (MACC), Avillion Bhd has assured that it is business as usual for the company.
“Avillion is a public company listed on Bursa Malaysia. Avillion and its subsidiaries are governed by and in compliance with Bursa Malaysia’s Listing Requirements, Rules and Guidelines. The group has been operating and will continue to operate as a public company,” the integrated travel, hotels and property group said in a bourse filing on Tuesday.
“As such, the group will be operating its business as usual,” it added.
Prior to Avillion’s assurances, the group’s shares fell one sen or 16.67% to close at five sen on Tuesday, valuing it at RM51.94 million.
Over a year, the counter has fallen 44.4% from nine sen on Jan 30, 2023. Looking further back, it has declined from a peak of 78.5 sen in 2011, touching as low as three sen in March 2020.
On Monday (Jan 29), Avillion and 23 of its subsidiaries were listed among the 71 assets listed in the MACC’s charge sheet in charging Daim for failing to declare his assets to the anti-corruption body.
The former finance minister pleaded not guilty before Sessions Court judge Azura Alwi to one charge under Section 36(2) of the MACC Act 2009, concerning an offence pertaining to disclosure of assets.
He was charged with not declaring an Amanah Saham bank account; seven vehicles including a Rolls-Royce, an Austin Morris Austin and a Jaguar XJS HE; 38 companies and 25 properties, some of which are linked to the companies he owns.
Among the companies mentioned were Ibu Kota Developments Sdn Bhd, Maya Seni Holdings Sdn Bhd, Menara Ampang Sdn Bhd, Dream Cruiser Sdn Bhd, Landbelt Corporation Sdn Bhd, Avillion Bhd, Avillion Hotel Group, Admiral Cove Development Sdn Bhd and Avillion Hotels International Sdn Bhd, to name a few.
Daim’s son Datuk Md Wira Dani Abdul Daim is Avillion’s largest shareholder, with a 21.82% stake via Ibu Kota Developments Sdn Bhd and Daza Holdings Sdn Bhd.