Govt MP proposes Parliament debate Azam's share ownership

 

A government MP has filed a motion seeking that the Dewan Rakyat discuss MACC chief Azam Baki's share ownership in two publicly listed companies, estimated to be worth at least hundreds of thousands of ringgit.

Ramkarpal Singh, DAP MP for Bukit Gelugor, said he submitted the motion to the Dewan Rakyat speaker's office yesterday afternoon.

"Yes, I submitted the motion at approximately 1.35pm today (Thursday) to the speaker's office to know, amongst others, if an investigation will be commenced in respect of the allegations against Azam on his purported ownership of shares in Velocity and Awanbiru.

"I hope that the 'usul' (motion) will be decided upon soonest," he said in a text message.

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Malaysiakini has reached out to Dewan Rakyat speaker Johari Abdul for comment.

Pressure mounts

Ramkarpal's motion comes as pressure mounts on the government to investigate Azam, who had at some point held considerable shares in financial services company Velocity Capital Partner Berhad and Awanbiru Technology Berhad.

Azam Baki

According to a Bloomberg report, Azam was listed as holding 17.7 million shares in Velocity Capital, based on its annual return lodged on Feb 3 last year.

At Monday’s closing price, the stake would be worth about RM800,000.

Following the disclosure, the chief commissioner said he had declared his shareholdings with the Public Service Department, but did not address his non-compliance with the RM100,000-per-company limit for civil servants.

Azam also said he had disposed of the shares within the same year as purchasing them.

While it is not known how much Azam paid for the shares, the lowest Velocity Capital shares traded last year were RM0.015 per unit, meaning the MACC chief’s holdings could have been worth RM265,500 - at the minimum.

More shares

Following this, Malaysiakini reported that Azam also held shares in another company, which may not comply with rules limiting how much stock a civil servant can buy in a single entity.

Records from the Companies Commission of Malaysia showed that, as of Jan 13, Azam held slightly over 4.52 million shares in Awanbiru Technology, representing a 1.08 percent stake.

The shares were valued at RM0.305 each on Jan 13, putting Azam’s stake at almost RM1.38 million at that time.

Anwar Ibrahim

While it is not known when Azam purchased the shares, the lowest price for Awanbiru Technology stocks in the last five years was RM0.175 per share on July 12, 2023. At that price, 4.52 million shares would have been worth just over RM790,000.

The disclosures have prompted calls for Azam’s resignation and for Prime Minister Anwar Ibrahim, who has since renewed the MACC chief’s tenure three times, to take action. - Mkini