Mirzan Mahathir (left) and Tan Sri Mokhzani Mahathir, sons of two-time prime minister Tun Dr Mahathir Mohamad.

KUALA LUMPUR (Jan 21): The two sons of former prime minister Tun Dr Mahathir Mohamad have together declared assets worth RM1.2 billion to the Malaysian Anti-Corruption Commission (MACC), Bloomberg reported on Tuesday.

Tan Sri Mokhzani Mahathir declared more than RM1 billion of assets and his elder brother Mirzan Mahathir about RM246 million, the news service reported citing MACC chief commissioner Tan Sri Azam Baki at a briefing.

“Investigations into them are still ongoing, although the asset declaration is completed,” Azam was quoted as saying.

Mokhzani and Mirzan made the declaration within the last deadline in September 2024 following multiple extensions. The MACC had demanded information on all movable and immovable assets in their possession stretching back to 1981, when their father first became Malaysia's prime minister.

Both of them were called up for questioning by the MACC in January 2024, although it was not clear then what the investigation was about. Azam later confirmed that it was Mahathir who was the subject of the MACC investigation, and that orders issued to his sons to declare their assets were related to it.

Mahathir claimed that the MACC had accused him of abusing power for personal gain.

The alleged offence is under Section 23 of the MACC Act, which stipulates that it is an offence to use an office or position for gratification, and a person convicted of such an offence is liable to face a jail term of 20 years and a fine of five times the gratification.

In June 2024, Mokhzani stepped down as the non-executive chairman of Maxis Bhd (KL:MAXIS) after 15 years sitting on the board of the company. He served as a director of Maxis since its relisting on Bursa Malaysia in 2009, and as the chairman of the board since April 22, 2021.

His elder brother Mirzan meanwhile is currently the substantial shareholder and managing director of Betamek Bhd (KL:BETA). He is also the founder and chief executive officer of alternative investment firm Crescent Capital Sdn Bhd.