Abdul Daim Zainuddin, the diminutive titan who played a crucial role in politics and economics while becoming one of Malaysia’s richest men as the closest ally to former Prime Minister Mahathir Mohamad – twice as finance minister – has died at age 86 in a Kuala Lumpur hospital following a stroke. He had spent his last months in a wheelchair, suffering from a variety of illnesses.
While making himself wealthy, Daim worked to keep the ruling Malay power elite in sway with a canny grasp of politics while building a web of holdings in key areas of the economy through complex share swaps and reverse takeovers that increased his wealth behind the scenes. Whatever his personal dealings, he played an undeniable role as finance minister in Malaysia’s economic path over decades to relative prosperity…