Azam says does not own any more shares, to send LOD to Bloomberg

 

MACC chief commissioner Azam Baki today claimed that he has divested all shareholdings in any company since last year, in response to media reports concerning his stake in Awanbiru Technology Berhad.

This afternoon, Malaysiakini reported that Azam also has shares in another company that may not be in compliance with rules limiting how much stock a civil servant can buy in a single entity.

This is after Bloomberg reported yesterday that Azam had owned 17.7 million shares in the financial services company Velocity Capital Partner Berhad.

Checks with the Companies Commission of Malaysia (CCM) records found that as of Jan 13 this year, Azam had slightly over 4.52 million shares in Awanbiru Technology Berhad or a 1.08 percent stake.

Malaysiakini's report on Azam's shareholdings in Awanbiru Technology is based on the CCM records, which were accessed at 9am today. However, as of 5pm, Azam's name is no longer on the document.

Malaysiakini has contacted the CCM for clarification regarding the changes.

"I no longer hold any shares. Show me the facts if I still do. Which Awanbiru? I have no idea," Astro Awani reported him as saying at a special press conference at the MACC headquarters in Putrajaya today.

Malaysiakini was not invited to the press conference.

‘My account is empty’

In the press meet, Azam also stressed that any allegations claiming he still holds assets of any kind are untrue and malicious in intent.

"Since last July, I have not owned any shares whatsoever. To this day, I do not hold a single unit of shares in any company; my account is empty," he said.

Expounding on regulations stipulating that a civil servant may purchase shares, including debentures, bonds, and other securities not exceeding five percent of paid-up capital or RM100,000 at current value, Azam claimed that his shareholding did not involve paid-up capital but was instead acquired through purchases on the open market.

“If anyone says it still falls under paid-up capital, I bought it at a rate of 1.25 percent of the total shares offered to the public,” he said.

Azam also claimed that there is no law requiring civil servants to declare their assets to the public.

“To my knowledge, around the world, asset declarations exist through certain systems, but they are not meant to be disclosed to the public,” he was quoted as saying.

‘Let’s face each other in court’

Azam also threatened to seek a court order to restrain parties from repeating or publicising the matter.

“If any party attempts to raise this matter again, I will apply for an injunction,” he said.

Astro Awani also reported Azam as saying that he would be sending a letter of demand (LOD) to Bloomberg, following its report on his share ownership in Velocity Capital Partner.

According to him, the letter will be delivered by his lawyer, either through the agency’s office in Malaysia or in the United States.

“My lawyer will send the letter of demand tomorrow. I am entirely serious about this matter; let us face each other in court,” he said.

Azam also denied Bloomberg’s report that he did not respond to its queries regarding his shareholdings in Velocity Capital Partner.

He stressed that he had replied to Bloomberg’s questions on Jan 14 via email.

“They did send me an email with several queries, and I replied (to that email), but when they claim that we did not respond, that is very wrong,” he said.

The New Straits Times reported Azam as saying yesterday that the shares in Velocity Capital Partner had been properly declared through the Public Service Department's (PSD) Human Resource Management system.

He also said the shares were purchased last year and disposed of within the year.

While it is not illegal for civil servants to purchase stocks, a civil service disciplinary circular states that they are not allowed to purchase more than RM100,000 worth of stocks in a single company.

The MACC and Azam have denied wrongdoing and that he had declared his shareholdings in Velocity Capital Partner with the PSD.

Malaysiakini has contacted Chief Secretary to the Government Shamsul Azri Abu Bakar for comment regarding Azam's case. - Mkini