Malaysia taps senior official to take next steps on graft chief
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Malaysia's Anti-Corruption Commission chief commissioner Azam Baki has denied any wrongdoing.
PHOTO: AFP
KUALA LUMPUR - Malaysia’s Cabinet received a report on the probe into anti-graft chief Azam Baki’s shareholdings and referred the matter to the Chief Secretary to the Government to follow up.
Prime Minister Anwar Ibrahim’s Cabinet had earlier ordered an investigative committee to look into the matter after a Bloomberg News report in February said Mr Azam had shareholdings that far exceeded the allowed limit for public officials.
“The Cabinet decided that the next steps should be taken by the Chief Secretary to the Government,” Communications Minister Fahmi Fadzil said at a press conference in Putrajaya on March 11.
“I won’t say what is in the investigation report as there are steps that need to be taken by the Chief Secretary. We will wait for the statement from the chief secretary.”
The announcement comes after reports this week that Mr Anwar is poised not to renew the contract of Mr Azam, the chief commissioner of the Malaysian Anti-Corruption Commission (MACC), when it ends on May 12.
The Cabinet ordered the establishment of a three-person committee of senior government officials led by the attorney general to investigate Mr Azam’s shareholdings after Bloomberg reported that he owned 17.7 million shares of Velocity Capital Partner, according to an annual filing by the financial-services firm to the Companies Commission of Malaysia.
That stake would have been worth almost 800,000 ringgit ($260,000) at the time of the report. Mr Azam denied that he did anything wrong and said he declared the shareholdings properly.
A 2024 Malaysian government circular, which provides guidance on 1993 regulations stipulating the conduct of public officials, says a public servant may purchase shares in a company incorporated in Malaysia on the condition that they do not exceed 5 per cent of its paid-up capital or 100,000 ringgit in value, whichever is lower. They also must declare assets at least once every five years and at the time of purchase and sale of holdings.
The Public Service Department’s disciplinary board to expected to meet soon to discuss the report on Mr Azam’s shares, Chief Secretary to the Government Shamsul Azri Abu Bakar told local media on March 10.
Separately, the Cabinet asked the police and other agencies to look into allegations that businessmen were colluding with MACC officials to intimidate executives and oust them from companies. Those allegations were reported by Bloomberg in a separate report on the MACC last month.
The Cabinet has asked the police, the Securities Commission, the Inland Revenue Board and the MACC itself to look into the alleged “corporate manipulation,” Mr Fahmi said.
The minister made no mention of establishing a Royal Commission of Inquiry to investigate the allegations, as had been urged by civil society groups and the biggest party in Mr Anwar’s ruling coalition.
A spokesperson for the MACC did not immediately respond to a request for comment. BLOOMBERG
