AG indicates Azam committee probe focusing only on shareholdings

 

Attorney-General Dusuki Mokhtar has indicated that the committee he is heading to probe MACC chief Azam Baki will focus only on issues regarding the latter's shareholdings.

When asked by Malaysiakini whether the scope would cover all allegations raised by Bloomberg, Dusuki (above) asked the portal to refer to Chief Secretary to the Government Shamsul Azri Abu Bakar's statement.

Shamsul, in a Friday night statement, only said that the committee would look at the shareholding issue, with no mention of the allegations that MACC officers had colluded with private individuals to strong-arm business rivals and stage corporate takeovers.

Bloomberg alleged that Azam was aware of the collusion and had even acted in support of such acts.

Lawmakers from PKR, DAP, and PAS yesterday called for the scope of investigations to be expanded to cover the strong-arming allegations.

Info-gathering stage

Dusuki also confirmed with Malaysiakini that work on the shareholdings probe is underway, and is in the information-gathering phase.

Azam first entered the spotlight earlier this week after Bloomberg and Malaysiakini separately reported that the graftbuster chief owned significant shares in two companies that appeared to be in excess of what the civil service allowed.

MACC chief Azam Baki

Companies Commission of Malaysia records revealed that Azam had at some point held 17.7 million shares in Velocity Capital Partner Berhad and around 4.52 million shares in Awanbiru Technology Berhad.

The Velocity Capital Partner shares were believed to have been bought for around RM1.5 million, while the Awanbiru shares were estimated to have been valued between RM1.24 million and RM1.38 million at some point.

While share trading by civil servants is not illegal, the 2024 Public Officers’ Conduct and Disciplinary Management Circular stipulates that civil servants are not allowed to purchase shares that exceed five percent of paid-up capital or RM100,000 at current value.

However, Azam countered that his shareholding did not involve paid-up capital but was instead acquired through purchases on the open market. - Mkini