Daim’s son declared bankrupt


(FMT) – Md Wira Dani Abdul Daim steps down from positions in two companies after court declares him bankrupt for failing to settle debts due to Maybank Kim Eng Securities.

Former Malaysian finance minister Daim Zainuddin’s son has been declared a bankrupt over about SD1.65 million in debt that he owed to Maybank Kim Eng Securities.

Following this, according to a report in The Straits Times, Md Wira Dani Abdul Daim has stepped down as non-independent and non-executive director of LionGold Corp.

The decision to step down was made known in a statement filed with the Singapore Stock Exchange. The statement indicated that Wira Dani intended to resolve the matter within 30 days.

Wira Dani, 37, had also ceased to be ISR Capital executive chairman since Monday, said the ST report. Public-listed ISR is an investment and investment advisory firm focused on the natural resources space, according to its website.

Maybank secured a High Court judgment against Wira Dani in March to reclaim a debt of SD2.459 million that he owed. This is said to have been borrowed by him to buy LionGold shares on a leveraged account, according to the ST report.

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