{"id":13074,"date":"2022-01-20T00:31:12","date_gmt":"2022-01-19T16:31:12","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=13074"},"modified":"2022-01-20T00:31:14","modified_gmt":"2022-01-19T16:31:14","slug":"sc-clarifies-findings-on-azam-reaffirms-decision-on-macc-chief","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=13074","title":{"rendered":"SC clarifies findings on Azam, reaffirms decision on MACC chief"},"content":{"rendered":"\n

Kuala Lumpur, Jan 20 — The Securities Commission (SC) has reaffirmed its recent decision clearing Azam Baki of conflict of interest in the ownership of company shares based on an investigation on the Malaysian Anti-Corruption Commission (MACC) chief.<\/p>\n\n\n\n

In a statement, it said the independent evidence gathered at the inquiry into Azam\u2019s trading account showed that he was the named account holder and had control of the account in question.<\/p>\n\n\n\n

It also said Azam had operated the account which he had opened, in that he had given instructions to buy, sell and transfer securities from the said account.<\/p>\n\n\n\n

\u201cTherefore, the SC arrived at the decision that there was no breach of Section 25(4) of the Securities Industry (Central Depositories) Act 1991,<\/em>\u201d it said.<\/p>\n\n\n\n

The SC yesterday said that Azam was in the clear, adding that the MACC chief had not breached any laws.<\/p>\n\n\n\n

\"SC\"<\/figure><\/div>\n\n\n\n

\u201cThe SC has concluded its inquiry and based on the evidence gathered, the SC is not able to conclusively establish that a breach under Section 25(4) of Sicda has occurred,\u201d<\/em> the market regulator said in a statement, referring to the Securities Central Depository Act 1991.<\/p>\n\n\n\n

It also said in an email to Azam that it had closed its inquiry file on him.<\/p>\n\n\n\n

\u201cBased on our inquiry and the documents obtained from relevant parties, we find that we cannot conclusively find\/show that a breach of securities law under s.25(4) Sicda 1991 has occurred,\u201d<\/em> it said.<\/p>\n\n\n\n

Azam came under fire over claims of conflict of interest in the purchase of company shares following a series of blog articles by an activist linked to local NGO C4 Center.<\/p>\n\n\n\n

He later issued a demand letter to the writer of the articles, Lalitha Kunaratnam, with the MACC lodging a police report against her describing her claims as false and unsubstantiated by evidence.<\/p>\n\n\n\n

He also filed an RM10 million defamation suit against her, seeking a public apology over the publication of the articles last year.<\/p>\n\n\n\n

He had also been under fire from top Pakatan Harapan leaders who called for him to go on leave and for MACC\u2019s Anti-Corruption Advisory Board chairman Abu Zahar Ujang to be investigated after the latter cleared Azam of allegations of conflict of interest.<\/p>\n\n\n\n

NMT<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kuala Lumpur, Jan 20 — The Securities Commission (SC) has reaffirmed its recent decision clearing…<\/p>\n","protected":false},"author":1,"featured_media":13075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[524],"tags":[],"class_list":["post-13074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",658,442,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51-300x202.png",300,202,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",640,430,false],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",640,430,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",658,442,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",658,442,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",658,442,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",658,442,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/01\/Screen-Shot-2022-01-20-at-00.28.51.png",658,442,false]},"author_info":{"info":["Editor"]},"category_info":"Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13074"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13074\/revisions"}],"predecessor-version":[{"id":13076,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13074\/revisions\/13076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/13075"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}