Yesterday, the Securities Commission (SC) confirmed that Tan Sri Azam Baki is the named account holder and the same had control of the said trading account. With this, the SC arrived at the decision that there “was no breach of section 25(4) of the Securities Industry (Central Depositories) Act 1991 (SICDA)”.
This raises more questions which the SC has failed to answer.
Firstly, Azam as a senior government officer, in his public statement to the media, claimed that the shares belonged to his brother, who used his account. This is a pertinent point that the SC has failed to address! I, therefore, for the sake of public interest and transparency of its investigations, demand SC to disclose publicly the minutes of its inquiry into Azam’s trading account sans his personal data. In particular, we would like to know if the SC had asked Azam with regards to his public admission that his brother used Azam’s trading account and owned the shares.
Secondly, did the SC obtain financial trails of the transaction between Azam and his brother to back Azam’s public statement that the shares belonged to his brother? If Azam had owned up to the possession of that amount of money, has the police, Inland Revenue Board (or even the MACC, for that matter) investigated the source of income?
Finally, I urge the Attorney General to enlighten the nation if any offense was committed when a high ranking government official gave contradicting statements, one to the media and the other to an official inquiry.