Azam welcomes SC decision on conflict of interest probe

Malaysian Anti-Corruption Commission (MACC) chief Azam Baki today welcomed the outcome of the Securities Commission (SC) investigation clearing him of allegations of conflict of interest in the ownership of company shares.

In a statement, he said he was thankful for the SC decision that he had not committed any offence.

“With that, I will continue my responsibility as chief commissioner MACC to fight corruption in the country without fear or favour,” he said.

The SC earlier today said it had closed its inquiry file on Azam after being unable to conclusively show that a breach of securities law had occurred under Section 24(4) of the Securities Central Depository Act 1991 (Sicda).

The provision in question states that a trading account must be opened in the name of the beneficial owner or the authorised nominee.

Azam had been due for questioning by the Parliamentary Select Committee on Agencies under the Prime Minister’s Department, a committee comprising MPs from Pakatan Harapan, Perikatan Nasional, Barisan Nasional as well as GPS and Warisan.

He was under investigation over claims of conflict of interest in the purchase of company shares following a series of blog articles by an activist linked to local NGO C4 Center.

He later issued a demand letter to the writer of the articles, Lalitha Kunaratnam, with the MACC lodging a police report against her describing her claims as false and unsubstantiated by evidence.

He had also been under fire from top Pakatan Harapan leaders who called for him to go on leave and for MACC’s Anti-Corruption Advisory Board chairman Abu Zahar Ujang to be investigated after the latter cleared Azam of allegations of conflict of interest.