DAP adviser Lim Guan Eng has urged the Public Service Department (PSD) to publicly address MACC chief commissioner Azam Baki’s previous shareholding in financial services company Velocity Capital Partner Berhad.
He said the department must state whether Azam had breached the 2024 Public Officers’ Conduct and Disciplinary Management Circular by purchasing an excessive number of shares in the company.
“Principles of integrity, accountability and transparency must be upheld for the official helming of such a critical and important post as the MACC’s chief commissioner,” the Bagan MP said in a statement today.
Yesterday, Azam said he is considering legal action following reports stating that he holds 17.7 million shares in the company, or about a 1.7 percent stake.
He said he bought the shares last year and disposed of them in the same year.
Based on last year's share prices (RM0.015 to RM0.065), the holdings were worth between RM265,500 and RM1,150,500.
RM100k limit
Under Rule 17(b) of the circular, civil servants cannot purchase more than RM100,000 worth of shares in any single company - making Azam's holdings far in excess of the limit.
Despite this, Azam reportedly told the New Straits Times that the transactions were above board and had been properly declared to the PSD, and the reports questioning the transactions were malicious and defamatory in nature.
Lim said if Azam did not breach the regulation, then Azam would be entitled to seek legal redress.
“However, if Azam has breached this circular, then the government must explain what disciplinary action has been taken and whether a special inquiry should be conducted, as well as whether it is tenable for him to remain in his position,” he said.
Since then, it has emerged that Azam also holds 4.52 million shares in Awanbiru Technology Berhad, which could be worth more than RM790,000 at its lowest value in recent years.
Malaysiakini has contacted the MACC chief for comment. - Mkini
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