[UPDATED] Shares supposedly acquired by Azam Baki ‘affordable to many’, says Wan Junaidi

KUALA LUMPUR – The purported shares acquired by Malaysian Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki is not expensive and affordable for many, said Minister in the Prime Minister’s Department (Law and Parliament) Datuk Seri Wan Junaidi Tuanku Jaafar.

He said the shares attributed to Azam were first purchased in 2016 when one million shares were valued at RM330,000 or 30sen to 33sen per share, and that the current share price Azam holds was accumulated over the years.

“Based on the initial price, it is not an expensive share to acquire. I believe it is affordable to many of us,” Wan Junaidi said, adding that “laws do not prevent government servants from obtaining shares in public listed companies.”

In a statement, he highlighted the Public Officers Regulations Act (Conduct and Discipline) 1993 that states government servants are only prohibited from trading in futures market, locally and abroad while those who own shares in public listed companies are required to declare them as assets.

Nevertheless, he assured that the government will ensure investigations in Azam’s conduct are done according to law.

Currently, he said, the case is being examined by the Securities Commission and police, adding that the views of the Anti-Corruption Advisory Board (LPPR) will be taken into consideration.

As for calls to place MACC under Parliament, Wan Junaidi said it is not a simple matter and must be looked at carefully.

“In order for MACC to be effective, it needs to operate independently.

“The establishment of MACC under the MACC Act 2009 (Act 694) ensures the Commission’s independence and this should not be compromised in any way.”

Wan Junaidi also echoed Prime Minister Datuk Seri Ismail Sabri Yaakob’s call for calm and allow for investigations to take its course.

“I am aware many are demanding for action to be taken against Tan Sri Azam. However, I would like to remind everyone that this matter is still under investigation and we are only able to make a decision on the matter upon completion of the investigation by the SC and police.

“Pending the completion of these investigations, I hope that everyone will stay calm as we are trying our best to resolve it in the best manner possible,” said the minister.

His comments come after six LPPR members refuted statements by chairman Tan Sri Abu Azhar Ujang that the board was satisfied with Azam’s explanation that his younger brother used his share-trading account to purchase shares.

Instead, they proposed for the matter to be referred to an independent committee, the Parliamentary Select Committee on Corruption and MACC’s complaints panel. 

Following the revelations made by the six LPPR members, calls urging Azam and Abu Zahar to be removed have only grown louder.

Azam has been under fire this week following allegations of conflict of interest after it was revealed that he had supposedly purchased millions of shares in a publicly listed company.

On Wednesday, Azam defended himself, saying that he is only answerable to the anti-graft body’s advisory board.

He added that he saw no need to come clean on the matter as he did not commit any crimes, nor was he involved in any conflicts of interest.

Azam was listed as a shareholder of Gets Global Bhd as at April 30, 2015, where he held 1.9 million shares, as well as 1.029 million shares as of March 31, 2016.

He also held 2.15 million warrants in Excel Force MSC Bhd from March 2016. – The Vibes, January 8, 2022