Malaysia's top anti-graft official to cooperate with regulator after share trading allegations

KUALA LUMPUR - Malaysia's top anti-graft official said on Thursday (Jan 6) he will co-operate with the country's securities regulator after it asked him for an explanation on the use of his share trading account.

Azam Baki, the chief commissioner of the Malaysian Anti-Corruption Commission (MACC), has faced calls to explain allegations that he owned millions of shares in two public listed companies in 2015 and 2016.

He told a press conference on Wednesday that his share trading account had been used by his brother and that he had had "no interest or benefit in the shares purchased".

The Securities Commission said it would ask Azam to explain his statements, adding that under local law, every securities account and all related dealings must be carried out in the name of the account's beneficial owner or an authorised nominee.

"The SC will be in touch with the parties involved, including Azam Baki, for an explanation and to verify statements made, as well as gather any relevant evidence," it said in a statement.

In a text message to Reuters, Azam said he will co-operate and provide the relevant information to the regulator.

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Under Malaysian law, public officials are allowed to hold corporate shares but must declare their assets every five years.

An advisory board tasked with independently monitoring the anti-graft commission said on Wednesday that it had found no criminal conduct or conflict of interest on Azam's part in the share trading.

Azam was appointed as the MACC's chief commissioner in 2020 after playing a key role in major investigations including the multibillion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB), which brought down former Prime Minister Najib Razak.