Amid Stock Market Storm, Azam Baki Gets Support From Three Senior MACC Officers Who Call Allegations “A Policy of Revenge” | Malaysia

Malaysian Anti-Corruption Commission Chief Commissioner Tan Sri Azam Baki at a special press conference at MACC headquarters in Putrajaya on January 5, 2022. – Photo by Shafwan Zaidon

KUALA LUMPUR, January 9 – Three senior officials of the Malaysian Anti-Corruption Commission (MACC) today issued a statement offering their full support to their leader Tan Sri Azam Baki who is currently embroiled in a vested stock controversy in 2015.

The declaration was signed by Datuk Seri Ahmad Khusairi Yahaya, Datuk Seri Norazlan Mohd Razali and Datuk Junipah Wahid, who are respectively the deputy chief commissioners responsible for operations, prevention and management and professionalism, and follows the inquiries Securities Commission (SC) pending against Azam over a possible conflict of interest after admitting to trading proxy shares.

“We represent all members of the MACC by expressing our position, supporting the leadership of Tan Sri Azam Baki, the chief commissioner of the MACC.

“We believe that the charges and attacks are motivated by policies of revenge aimed at tarnishing the image and credibility of the MACC. We urge all parties to end this chaos and allow legal processes to run their course in a fair and transparent manner.

“The members of the MACC are still united in defending the institution of the chief commissioner and the MACC for the continuity of the prevention of corruption in this beloved country,” the trio said in the joint statement.

However, they did not specify the possible motivations for the revenge.

The SC announced last week that Azam would be summoned for questioning this week for alleged violation of stock trading laws.

This was after Azam ended its silence on its alleged acquisition of millions of shares in two publicly traded companies in 2015. At a press conference last week, he admitted that he had authorized his brother, Nasir Baki, to use his stock trading account to buy these stocks.

Citing Article 25 of the Securities Sector Law (Central Custodians) (SICDA), the SC stated that each securities account opened with a central custodian must be in the name of the beneficial owner of the securities deposited or at the name of an authorized representative.

Azam has come under public scrutiny in recent weeks for its acquisition of millions of shares in two publicly traded companies in 2015.

At the same press conference, Chairman of the Anti-Corruption Advisory Board (ACAB) Tan Sri Abu Zahar Ujang Abu Zahar said that an internal investigation last November 24 cleared Azam of any wrongdoing, adding that all the shares were then transferred to Nasir in 2015.

However, Abu Zahar’s remarks did not please 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 Professor Datuk. Mohammad Agus Yusoff.

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

Mohammad Agus said The star yesterday the six distanced themselves from Abu Zahar’s remarks because the issue of share swaps involving Azam was not discussed at all at ACAB meetings.

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