Report: MACC chief Azam says will cooperate with authorities on stock trading probe against him

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Malaysian Anti-Corruption Commission chief commissioner Tan Sri Azam Baki speaks to the media during a special press conference at MACC headquarters in Putrajaya, January 5, 2022. — Picture by Shafwan Zaidon
Malaysian Anti-Corruption Commission chief commissioner Tan Sri Azam Baki speaks to the media during a special press conference at MACC headquarters in Putrajaya, January 5, 2022. — Picture by Shafwan Zaidon

KUALA LUMPUR, Jan 9 — The Malaysian Anti-Corruption Commission (MACC) chief commissioner has promised to work with investigators looking into allegations of his 2015 involvement in stock trading activities.

Tan Sri Azam Baki told The Star that the Securities Commission (SC) has set an appointment to meet him next week.

“I will give my cooperation,” he told the newspaper when contacted yesterday.

The SC had last week announced that Azam will be called in for questioning over alleged violation of stock trading laws.

Citing Section 25 of the Securities Industry (Central Depositories) Act (SICDA), the SC said every securities account opened with a central depository must be in the name of the beneficial owner of the deposited securities or in the name of an authorised nominee.

Azam has been under public scrutiny in recent weeks over his acquisition of millions of shares in two public-listed companies back in 2015.

Last week, he ended his silence and told a news conference that the shares were bought by his brother, Nasir Baki, using his stock trading account.

At the same news conference, the Anti-Corruption Advisory Board (ACAB) chairman Tan Sri Abu Zahar Ujang Abu Zahar said an internal inquiry last November 24 cleared Azam of any wrongdoing, adding that all the shares had subsequently been transferred to Nasir in 2015.

Abu Zahar’s remarks however, did not sit well with six of the ACAB members — Tan Sri Ismail Omar, Datuk Seri Azman Ujang, Datuk Seri Akhbar Satar, Datuk Hamzah Kassim, Datuk David Chua Kok Te and Prof Datuk Mohammad Agus Yusoff.

In a joint statement yesterday, the six said Abu Zahar’s statement was his personal view and that it did not reflect the decision of the board as a whole.

Mohammad Agus told The Star yesterday that the six distanced themselves from Abu Zahar’s remarks as the share trading issue involving Azam was not at all addressed in the ACAB meetings.

“We also did not agree for the chairman to conduct the press conference; the statement was made in his own [capacity].

“That’s why we made this statement to clarify the matter — that the chairman’s views were personal, not of the board’s,” Mohammad Agus told The Star yesterday when contacted for elaboration.

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