The Public Service Department (JPA) has been urged to provide an open explanation regarding the alleged shareholdings of Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki.
Former Penang Chief Minister Lim Guan Eng said the 2024 Public Officers’ Disciplinary and Conduct Management Circular prohibits civil servants from purchasing shares exceeding five per cent of a company’s paid-up capital or valued above RM100,000 at current market prices.
He said that if Azam did not breach the civil service regulations, he would be entitled to exercise his personal right to seek legal redress. However, Lim stressed that should the circular have been violated, the government must clarify what disciplinary action, if any, has been taken and whether a special investigation is warranted.
“JPA must also explain whether his position as MACC Chief Commissioner can still be maintained,” Lim said in a statement.
He added that in the interest of public accountability, the government through JPA should address the matter seriously and issue a clear and official statement for the record. According to Lim, the principles of integrity, accountability and transparency must be upheld, particularly for an individual holding such a critical national post.
According to a Bloomberg report, Azam, 62, is said to own 17.7 million shares in Velocity Capital Partner Bhd, a financial services firm listed on Bursa Malaysia. The information was reportedly based on an annual filing submitted by Velocity Capital to the Companies Commission of Malaysia (SSM) on Feb 3 last year.
The shareholding is estimated to be worth nearly RM800,000 based on Monday’s closing price. Bloomberg further reported that as of Tuesday, Azam’s name remained listed in Velocity Capital’s shareholder register accessible via SSM’s paid database, which is updated periodically.
However, it remains unclear when the shares were acquired. Velocity Capital has reportedly yet to submit its annual filing for the current year.
