Will Securities Commission members under MACC probe also be cleared? Syed Saddiq asks after Azam Baki touts his case as closed

·3-min read
Muar MP Syed Saddiq Abdul Rahman suggested that the all-clear may be given in return for the SC’s non-conclusive finding in its investigation of MACC chief Tan Sri Azam Baki, currently at the centre of a stock trading controversy. — Picture by Shafwan Zaidon
Muar MP Syed Saddiq Abdul Rahman suggested that the all-clear may be given in return for the SC’s non-conclusive finding in its investigation of MACC chief Tan Sri Azam Baki, currently at the centre of a stock trading controversy. — Picture by Shafwan Zaidon

KUALA LUMPUR, Jan 19 — Muar MP Syed Saddiq Abdul Rahman today asked if the Malaysian Anti-Corruption Commission (MACC) will give the all-clear to board members of the Securities Commission (SC) whom it had been investigating for alleged misconduct and graft.

The Opposition lawmaker suggested that the all-clear may be given in return for the SC’s non-conclusive finding in its investigation of MACC chief Tan Sri Azam Baki, currently at the centre of a stock trading controversy.

“The SC said ‘it was not conclusive’ after launching an investigation into the MACC chief; does that mean the SC that is currently being investigated will also be cleared?” Syed Saddiq, who heads the political party called Muda, told reporters at the Court Complex here earlier this morning.

The news conference was also aired on Facebook.

The former minister had referred to an Utusan Malaysia news report on January 11 that the MACC were investigating the SC board for misconduct and corruption after receiving complaints.

The Malay daily had cited unnamed sources, and added that the investigation into the SC board was yet not completed at that time.

Syed Saddiq suggested a possible conflict of interest in the SC issuing its statement yesterday and concluding that there was no wrongdoing on Azam’s part despite his previous admission to proxy share trading.

“When there’s a conflict of interest, the good name of such institutions will be severely affected,” he added.

Syed Saddiq also said that Azam should take a leave of absence from work and cooperate with the Parliament Select Committee (PSC) for Agencies Under the Prime Minister’s Department that is also looking into the share trading issue.

Another Opposition lawmaker Lim Kit Siang from the DAP had earlier called for a similar course of action and rejected the view that the SC statement exonerated Azam.

The SC issued a statement yesterday saying it has finished its inquiry on Azam’s controversial acquisition of public shares and found no conclusive evidence that he broke stock trading rules.

The SC began looking into the issue earlier this month after Azam openly admitted in a news conference that his brother, Nasir Baki, had used his share trading account — with his permission — to buy millions of shares in two public-listed companies back in 2015.

The SC said it did not conclusively find that Azam committed any breach under section 25(4) Securities Central Depository Act 1991 (SICDA) that a trading account must be opened in the name of the beneficial owner or authorised nominee.

Shortly after that, Azam issued a statement declaring that the SC had found him innocent and that he would continue work as usual.

The PSC on Agencies had summoned Azam for questioning this week, but postponed it to an unspecified date after he refused on grounds that he was already under probe by other agencies.

Azam is also being investigated by the MACC Complaints Committee.

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