KUALA LUMPUR, Feb 12 — The Malaysian Anti--Corruption Commission’s (MACC) anti-corruption advisory board (ACAB) today addressed the ongoing controversy surrounding chief commissioner Tan Sri Azam Baki’s shareholdings, sayin the agency's integrity cannot be judged by "confusing narratives that are not grounded in fact."
The issue came to light after it was reported that Azam held a significant number of shares in Velocity Capital Bhd, which, based on the share price at Monday's close, would be worth about RM800,000.
This drew questions related to a 2024 government circular limiting civil servants' shareholdings to a maximum value of RM100,000.
According to Free Malaysia Today, ACAB chairman Tan Sri Salim Fateh Din said the issue should be assessed based on facts, not on "perceptions shaped by incomplete and imbalanced" news reports.
“MACC’s integrity as an enforcement agency cannot be judged based on allegations... especially when they ignore check and balance mechanisms and the role played by independent oversight bodies,” he said.
On Tuesday, Azam Baki himself addressed the issue, clarifying that the shares were bought and sold within the same year (2025) and were properly declared to the Public Service Department.
He described the reports questioning his holdings as "malicious and misleading" and stated he is considering legal action.
Public officers are required to declare their assets periodically, and the 2024 circular on the conduct of public officials states that civil servants may only hold shares in Malaysian-incorporated companies if the holdings do not exceed 5 per cent of paid-up capital or RM100,000 in value, whichever is lower.
