Pakatan leaders want an investigation by the MACC and anti-corruption board

Malaysia – The Pakatan Harapan Presidential Council wants an independent body to look into allegations of corruption and power abuse by MACC head Tan Sri Azam Baki and LPPR chairman Tan Sri Abu Zahar Ujang.

They rejected Azam’s explanation that his brother acquired millions of publicly traded shares in his name, citing conflicts of interest and legal violations.

“This offense is punishable under Section 25(4) of the Securities Industry (Central Depositories) Act 1991, which carries a fine of up to RM3 million and a prison sentence of up to 10 years if proven guilty.”

They added that there’s also the question of where the funding comes from to acquire these shares.

“When he was scheduled to provide the facts from their inquiry, the LPPR chairman was so ready to accept his (Azam’s) answer since this contained charges of share purchases in the millions of ringgit in firms listed on the Malaysian stock market.”

The Malaysian Securities Commission stated that it was seeking an explanation from Azam about his suspected purchase of millions of shares in two publicly traded businesses in 2015.

Related Posts

Azam stated at a press conference on Wednesday that he had let his brother acquire the stocks using his share trading account.

“We believe the prime minister can no longer keep quiet on this issue.” He must convene a special session of Parliament to clarify the true scenario behind Azam Baki and these stock acquisitions.

“We, the PH Leadership Council, reaffirm our position that an impartial body, apart from the MACC, should probe both the current and previous leaders.”

“At the same time, the MACC head and the LPPS chairman should take a leave of absence, and the police should launch an inquiry if the law has been breached.”

The MACC chief commissioner said at a press conference held over two weeks after news of his ownership of various firms surfaced that he had done nothing improper and that the shares had previously been reported to the LPPR.

According to a statement by Abu Zahar, the shares in issue were previously transferred back to Azam’s brother, Nasir Baki, in 2015.

At the press conference, Abu Zahar defended Azam, stating the board had cleared him of any misconduct or conflict of interest.

Katherine S

1/4 German, 3/4 Malaysian. I write, follow and monitor closely political news happening in Malaysia, and other happening news in the ASEAN region. Newswriter for the best ASEAN news website - The Asian Affairs.

Recent Posts

TWICE Joins Coldplay’s ‘Music of the Spheres’ Tour for a Seoul Spectacle in 2025

Especially when it's the internationally known British rock band Coldplay linking up with K-pop phenomenon TWICE, few events match the…

November 2, 2024

China Caught in the Crossfire: Tensions Rise as North Korea and Russia Strengthen Alliance

Tucked on a 12-story structure in northeast China, visitors flock to get a rare view of the junction of their…

November 2, 2024

Could Westeros Dragons Soon Soar into the Big Screen? ‘Game of Thrones’ Film Reportedly in Early Development

HBO's Game of Thrones has created a void in the fantasy world of television that no other show has quite…

November 1, 2024

Preparing for U.S. Election Impact: Sen. Imee Marcos Urges Self-Reliant Defense Amid Uncertain Times

Head of the Senate Committee on Foreign Relations, Senator Imee Marcos underlined the need of the Philippines getting ready for…

November 1, 2024

Strengthening Ties: UAE’s Minister of Tolerance Embarks on a Historic Visit to Indonesia

Not too long ago, Sheikh Nahayan Mabarak Al Nahyan, the prestigious Minister of Tolerance and Coexistence of the United Arab…

November 1, 2024

Box Office Battle: Singham Again and Bhool Bhulaiyaa 3 Set for Epic Diwali Clash

Two big banner movies of Bollywood are preparing for a festive season box office battle as ‘Singham Again’ starring Ajay…

November 1, 2024

This website uses cookies.

Read More