MACC chief Azam Baki to explain stock trading saga before parliamentary committee next week, says MP

(MMO) – Tan Sri Azam Baki has been summoned to meet the Parliamentary Special Select Committee (PSC) on Agencies under the Prime Minister’s Department next week to explain his involvement in the recent stock-trading controversy.

One of the PSC members, Kota Kinabalu MP Chan Foong Hin, said an official letter has been issued by the Dewan Rakyat secretary Nizam Mydin Bacha, to Azam, asking the Malaysian Anti-Corruption Commission (MACC) chief to present himself before the PSC in Parliament on January 19.

“Yes, it’s true. I was informed by the PSC secretariat that the Dewan Rakyat’s secretary has sent the letter to the chief commissioner of the MACC to attend our hearing. It will be at 2pm in Parliament,” Chan told Malay Mail when contacted today.

Azam found himself at the centre of a controversy involving the purchase of millions of shares in two public-listed companies in 2015 after a journalist wrote about it.

Azam told Sinar Harian yesterday that he will not resign as the chief of the MACC, nor will he heed demands to quit, and views the Yang di-Pertuan Agong as the only one who can decide to terminate him.

On January 5, Azam in a news conference admitted that he had allowed his brother Nasir Baki to use his share trading account to buy the shares in two public-listed companies in 2015, but said he had not committed any wrongdoing and said he had no interest or benefit in those shares.

The Securities Commission (SC) on January 6 announced that Azam will be called in for questioning over alleged violation of stock trading laws.

Citing Section 25 of the Securities Industry (Central Depositories) Act (SICDA), the SC said every securities account opened with a central depository must be in the name of the beneficial owner of the deposited securities or in the name of an authorised nominee.