[UPDATED] Prolonged inaction over MACC imbroglio could deter foreign investors: Guan Eng

KUALA LUMPUR – Continued inaction over the debacle involving Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki will put off foreign investors coming to Malaysia, causing them to head elsewhere, said Lim Guan Eng (Bagan-PH).

Speaking in the Dewan Rakyat today, Lim had a bone to pick with Prime Minister Datuk Seri Ismail Sabri Yaakob (Bera-BN), who earlier boasted that as of January 14, foreign investments recorded a net purchase in local shares totalling RM400 million.

“This figure, however, shows conditions before the MACC chief commissioner crisis.

“Azam had earlier stated that he allowed his share-trading account to be used by his brother, only for the Securities Commission (SC) to recently confirm that he was the sole operator of the account.

“It is only now that we know of his lie. How can we be sure that foreign investors will remain confident in the state of our nation if situations like this are not handled quickly and effectively by the SC?” questioned Lim, who is former finance minister. 

He also called on the prime minister to explain measures that will be taken to rectify the situation so as to prevent foreign investors from taking their businesses to more reliable nations. 

“Do not try to cover up this scandal. For the sake of the country as a whole, we need to come up with a comprehensive solution as soon as possible.”

In a statement yesterday aimed at clarifying findings from its investigations into Azam’s share-trading activities, the SC suggested that he had made transactions on the account of his own volition. 

This is despite Azam attributing transactions to his brother, Datuk Nasir Baki, during a tell-all press conference on January 5 in which he maintained that he had no vested interest or benefit. – The Vibes, January 20, 2022