Accept SC’s decision on Azam Baki share trading issue, says PM

  • Nation
  • Wednesday, 19 Jan 2022

PUTRAJAYA: A professional body has made its decision in the case of Tan Sri Azam Baki’s share trading issue and those unhappy with the outcome should ask the body, says Prime Minister Datuk Seri Ismail Sabri Yaakob (pic).

He said there were calls for the Malaysian Anti-Corruption Agency (MACC) chief commissioner to be investigated and the Securities Commission (SC) had done so as the matter was under its purview.

“The SC announced its findings and again today (Jan 19), it gave further explanation on the matter.

“We have asked for an investigation but when the outcome is made known, we are not happy with the explanation given,” he said.

Ismail Sabri said the SC’s decision should be accepted.

“If there are further questions on SC’s decision, it should be raised with the Commission,” he said.

On Tuesday (Jan 18), the SC announced in a statement that it was not able to determine whether there was a breach of regulations in relation to Azam's share trading account.

The announcement received backlash from Opposition leaders, with many demanding for more details from the commission.

On Wednesday evening, the SC issued another statement to say that evidence gathered in its inquiry on Azam's share trading account showed that the MACC chief was the named account holder and had control of the said account.

"Azam operated the account that he had opened, in that he had given instructions to buy, sell and transfer securities from the said account.

"Therefore the SC arrived at the decision that there was no breach of Section 25(4) of the SICDA," it said.

The controversy involved a substantial amount of shares bought from Gets Global Bhd and Excel Force MSC Bhd between 2015 and 2016 when Azam was the MACC director of investigations.

Azam has denied wrongdoing and said he will continue to carry out his duties as MACC chief commissioner following the decision by the SC that he did not commit any offences.

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