Daim’s lawyer, Gurdial Singh Nijar, confirmed his death.

“Yes, he passed on this morning. His funeral will be held today,” he told FMT.

In a brief statement, Daim’s family said the former Umno treasurer-general breathed his last at 8.21am at Assunta Hospital in Petaling Jaya.

It is understood that funeral prayers are expected to be held at about 5pm at the Federal Territory Mosque in Kuala Lumpur.

Daim served as finance minister twice. The first stint was from 1984 to 1991 under former prime minister Dr Mahathir Mohamad’s first administration, during which he played a key role in managing Malaysia’s economy and implementing structural adjustments.

He later returned for a second term from 1999 to 2001, again under Mahathir, to address economic issues following the Asian financial crisis.

Earlier this year, Daim and his wife, Naimah Khalid, claimed trial in court on charges of failing to comply with the terms of a notice from the Malaysian Anti-Corruption Commission regarding asset declaration.

Daim was accused of failing to declare his ownership in 38 companies, 19 plots of land in Selangor, Negeri Sembilan, Pahang, Kedah and Kuala Lumpur, as well as six properties.

He was also alleged to have failed to declare his ownership of Amanah Saham Nasional Berhad and Amanah Saham Nasional accounts as well as seven luxury vehicles.

Last month, the sessions court ordered Daim to be present at a continued hearing over whether he should undergo a mental evaluation to determine if he was fit to stand trial.

Judge Azura Alwi had fixed Nov 20 to hear further submissions.