MALAYSIAN Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki today said his previous shareholding in a financial services company was conducted transparently and above board.
Speaking to the New Straits Times, he said he had nothing to hide regarding RM800,000 worth of shares, noting that the transaction had been properly declared.
"I made the declaration on this, including sources of my income through the Human Resource Management Information System (HRMIS), to the Public Service Department. All transparent," he said.
Azam explained that the shares were purchased last year and disposed of within the year.
He described the reports questioning the transaction as malicious and misleading, adding that he is considering legal action due to their defamatory nature.
It was earlier reported that Azam had emerged as a substantial shareholder in a listed financial services firm, according to recent corporate filings.
Filing by Velocity Capital Partner Bhd with the Companies Commission of Malaysia showed Azam holding 17.7 million shares in the company. Based on current market prices, the stake is valued at close to RM800,000.
Records available through the commission’s database indicate that Azam’s name continues to appear on the company’s register of shareholders as of the most recent update.
It is unclear when the shares were acquired, as Velocity Capital has yet to file its latest annual return for the current year, said the report.
“The article was malicious and misleading, and I am considering legal action due to its defamatory nature,” said Azam.
Checks by NST on the company web portal revealed that the company is Bursa Malaysia-listed and was previously involved in transportation, logistics and ceramics manufacturing.
It is now moving towards financial services, including moneylending. – February 10, 2026
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