Troubled LionGold banking on Daim Zainuddin's son

BELEAGUERED gold miner LionGold made a string of announcements on Monday pertaining to board changes and its plans to raise close to $40 million through the issue of shares and bonds.

But the announcement that would have piqued curiosity was the appointment of Wira Dani Abdul Daim, the son of Malaysia's former finance minister Daim Zainuddin, as executive director in the firm.

In early October last year, when LionGold shares were savaged, wiping out hundreds of millions in market value, the 36-year-old had had some 15 million shares in LionGold force-sold by banks.

This was somewhat perplexing from the onset, partly also b…