PETALING JAYA: The opposition will not accept the Securities Commission’s (SC) decision to clear Malaysian Anti-Corruption Commission (MACC) chief Azam Baki of any wrongdoing in his ownership of corporate shares, insists DAP secretary-general Lim Guan Eng.
Prime Minister Ismail Sabri Yaakob yesterday said the opposition should accept decisions made by professional bodies like the SC, adding that they cannot expect investigations to be carried out “based on their whims”.
In response, Lim called on Ismail to “stop the government’s dishonest attempt to cover up” the issue surrounding Azam.
“DAP wishes to remind Ismail that the opposition will not accept decisions which are made wrongly and contrary to the law,” he said in a statement today.
“When Azam expressed gratitude that the SC had cleared him of wrongdoing for allowing his trading account to be used by his brother to acquire millions of shares in listed companies, this is clearly wrong.
“Like any functional capital market in the world, Malaysia has also outlawed proxy share trading.”
Azam is alleged to have bought millions of shares and warrants in public-listed companies, despite a RM100,000 cap on equity holdings by civil servants. He defended himself by claiming that he allowed his brother to use his trading account.
However, the SC yesterday said the “independent evidence” it gathered during its inquiry showed that Azam was the named account holder and had operated the account that he had opened, in that he had given instructions to buy, sell and transfer securities from the said account.