KUALA LUMPUR — Anti-graft agency chief Tan Sri Azam Baki needs to be more transparent over his shareholding controversy and not give “selective answers”, said Umno Supreme Council member, Datuk Dr Mohd Puad Zarkashi.
Puad said although the Malaysian Anti-Corruption Chief Commissioner had declared and disposed of 17.7 million shares worth RM800,000 in Velocity Capital last year, there were other issues being raised by observers that Azam had not answered.
“He claims his shares ownership has been declared. But the issue isn’t just about whether he declared the shares or not, but did he get the Chief Secretary to the Government’s approval before buying shares exceeding RM100,000 in value?” Puad said in a Facebook post today.
Under a 2024 government circular, civil servants may only purchase shares in Malaysian companies on the condition that the investment does not exceed 5% of the company’s paid-up capital or RM100,000 in value, whichever is lower.
Puad also said Azam should disclose whether the stock “was bought or just transferred” to the chief commissioner’s account.
“The people don’t want selective answers. (Azam needs to be) thorough and transparent,” Puad said.
Azam, in a press conference earlier this week to respond to a Bloomberg news report on his shares in Velocity Capital, said his shares in the financial services company were purchased in early 2025 and sold in July the same year.
Azam has initiated legal action against Bloomberg for defamation, while police have begun a criminal probe into the news organisation’s article based on police reports lodged.
The government has formed a special investigation committee headed by Attorney-General Tan Sri Mohd Dusuki Mokhtar to probe Azam’s shareholding issue. – February 14, 2026