Media Statement – 9/7/2026
Minister Azalina WRONG In Not Disclosing Truth About Azam Baki’s Shareholding In Parliament – Transparency, Accountability and Parliament’s Role in Jeopardy.
If we cannot get answers in Parliament, it is a major concern that undermines the role of Parliament. Wrong for a Minister to ‘push responsibility’ to some other Public Officer, who the Government is ultimately responsible for, even if it is the Chief Secretary to the Government
Transparency, Accountability and Parliament were undermined when a Minister in Parliament avoided giving answers about Azam Baki’s shareholding, more so after the Cabinet Select Committee the matter had already completed its investigation and reported to Cabinet.
Petaling Jaya member of parliament Lee Chean Chung (PH-PKR) asked for ‘details of Azam's share purchase transactions from 2012 to 2026, including the period during which his total shareholdings exceeded RM100,000.’ "Regarding the request for a list of share purchase transactions and the period during which the holdings exceeded a certain value, the requested information forms part of the investigation documents, personal information and asset declarations protected under the provisions of the law and is not a public document," she [Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said] said in a written parliamentary reply today.(NST, 8/7/2026)
Bloomberg had reported that Azam held 17.7 million shares in Velocity Capital, citing a filing with the Companies Commission of Malaysia. The shareholding was disclosed in Velocity Capital's annual return. Hence, the allegations have credibility.
Thus, all that Minister, at minimum, ought to have done is to simply confirm whether Azam’s shareholding exceeded the RM100,000 limit that was then imposed on ALL Public Officers.
The Minister could have also confirmed or denied Bloomberg’s allegations about the shareholding.
On other matters of investigation, like into the ‘corporate mafia’ and ‘abuse of power’ crime investigations, the Minister could have maybe taken the position that evidence will not be disclosed now since investigations are ongoing. Doubts do exist as to whether the ‘corporate mafia’ and the ‘abuse of power crimes’ that implicates Azam Baki are also being investigated. The Minister could have cleared these doubts in Parliament by saying that all these crimes are being investigated – and will not be ‘swept under the carpet’.
There is a concern of whether that Cabinet Select Committee had focused on just the shareholding of Azam, and not the other crimes linked to Azam. This thinking is strengthened by the fact that after receipt of that Select Committee Report, it was referred to Chief Secretary to the Government and not to the relevant Law Enforcement bodies, to continue or start investigations into the alleged crimes involving Azam Baki.
The Minister ‘Azalina said the government assured that all relevant aspects, including share ownership and compliance with applicable regulations, had been examined during the investigation.’ – the answer is ‘confusing’ and vague as we still do not know for certain whether the ‘corporate mafia’ and the other crimes are being investigated. All we know from this response, is that the government may possibly just investigating the shareholding issue – the above RM100,000 shares misconduct? What about the other matters?
If one cannot even get answers from Ministers in Parliament, we have major problem. The failure to obtain clear, actionable answers from Ministers in the Dewan Rakyat highlights a significant flaw in Malaysia’s parliamentary democracy, severely limiting legislative oversight.
The Star’s analysis of the first 2026 Dewan Rakyat meeting from Jan 19 to March 3 found that at least one in nine written replies – 157 out of 1,354 – were flagged by MPs as being generic, deflective or failing to directly address the questions asked. (Star, 15/6/2026)
Minister Must Answer Not Shift the Duty to Some Public Officer
It is wrong for any Minister to even say that the responsibility of informing the public is on the Chief Secretary to the Government or some other Public Officer, all of whom are responsible to the Minister, Prime Minister or the Cabinet. The Minister must provide answers especially in Parliament.
"An announcement will be made by the Office of the Chief Secretary to the Government, in line with the media statement issued on March 31, if there are any developments or decisions relating to this matter that are appropriate to be made public," she [Minister Azalina] said.
What announcement could the Chief Secretary possibly make? That he decided or NOT to submit Azam Baki’s case to the Disciplinary Board, or maybe that he has instructed the police and MACC to proceed with the investigations? – YES, it is absurd to expect much from a mere Chief Secretary to the Government – it would have been better if any announcement comes directly from the Minister representing the government.
Will Parliament then have to ask the Chief Secretary and other Public Officers, because their ‘bosses’, the Ministers, cannot provide answers? A Minister is expected to answer on behalf of all Public Officers and departments/agencies that come within the said Minister’s authority and responsibility.
It must be pointed out that Azam Baki is a public officer and not a private person – and the alleged wrongdoing, amongst many more, was whether he at any time had shares in excess of the limit imposed by law for Public Officers, is RM100,000. One wonders also whether Azam’s superior, which may be Prime Minister Anwar Ibrahim or some Minister in the PM’s Department ‘approved’ Azam’s holding more than RM100,000 worth of shares? When it comes to Public Officers (Conduct and Discipline) Regulations, no one including the Superior should have the power to exempt any public officer from fully complying with the Regulations – this exemption powers must be removed.
DANGER - Shareholding limit increased to RM300,000 on 16/6/2026?
This information is available in government records, and the Government/Minister should at the very least disclose whether Azam Baki had more than RM100,000 worth of shares, which was an employment misconduct of a Public Officer.
It should be noted that Public Officers (Conduct and Discipline) Regulations 1993 has disappointingly been amended on 16/6/2026 to increase the shareholding limit to RM300,000.
Clearly, this government fails to understand why such limits or prohibitions are needed – it is to prevent ‘conflict of interest’ that may affect decisions to investigate, amongst others.
Will a Public Officer investigate and prosecute a company where he/she personally or his family members have shares or interest in?
Will a Minister prevent investigations on companies or persons he has an interest in?
Will Commissions like Malaysian Anti-Corruption Commission (MACC) or Malaysian Communications and Multimedia Commission (MCMC) block investigations into companies that any of these Commissioners may have an interest in?
Likewise, the same prohibitions on shareholding and interests in companies/entities should apply for Commissioners in existing Commissions like the MACC and MCMC. Will shareholdings and interest in some companies or ‘friendships’, result in non-investigation and non-prosecution decisions of the said law enforcement bodies?
MADPET (Malaysians Against Death Penalty and Torture) advocates that it be best that all Public Officers, especially those in law enforcement, be prohibited from holding any shares or interest in any Companies to remove possible conflicts of interest that could impact independent investigations and prosecutions.
The same prohibition on shareholdings and interest in companies should apply to Ministers, members of the Cabinet and maybe also for non-Public Officers Commissioners in law enforcement Commissions like MACC and MCMC – as we do not want ‘action not taken’ for crimes and wrongdoings simply by reason ;it may affect my dividends or interest in the said company’ situations.
Whenever there are going to be changes to the Public Officers (Conduct and Discipline) Regulations 1993, which may increase limits of shareholdings in companies, it is best that Parliament is consulted first – and it best not simply remain the decision of the Executive.
MADPET calls on the Minister and the Government of Malaysia to immediately disclose whether there are any investigation on the ‘corporate mafia’ issue, and the allegations of abuse of power which involves Azam Baki and/or the MACC;
MADPET calls for action to be taken against Minister Azalina Othman Said for her failure to provide clear and direct answers to a Parliamentary question.
We should never allow the Prime Minister or any Minister to undermine Parliament by choosing not to provide clear answers to questions raised by peoples’ representatives in Parliament. Maybe, the Parliamentary Standing Orders need to be amended to include provision that makes it mandatory to answer directly questions asked, without deflecting or even lying.
MADPET also calls for the enactment of regulations like the Public Officers (Conduct And Discipline) Regulations 1993 for the Ministers and the Members of the Administration, including the setting up of a disciplinary process and an independent Disciplinary Board, whose composition and members are determined by the Parliament.
MADPET also calls for TRANSPARENCY of these Disciplinary Boards for Public Officers, and hopefully soon for Members of Administration too, in that the findings of guilt will be available to the Public, as is the case now in most professional bodies like the Malaysian Bar. Knowledge that disciplinary action has been taken will improve public perception knowing that action has been taken against wrongdoers. This information, as well as the relevant regulation must also be made available in the relevant website.
TRANSPARENCY AND ACCOUNTABILITY CANNOT BE COMPROMISED. IN A DEMOCRACY, PEOPLE SHOULD NEVER BE KEPT IN THE DARK.
Charles Hector
For and on behalf of MADPET (Malaysians Against Death Penalty and Torture)
Surat Edaran dan Pekeliling Perkhidmatan Sumber Manusia (MyPPSM) Ceraian UP.7.2.6 - Pemilikan dan Perisytiharan Harta Oleh Pegawai Awam
Pekeliling Perkhidmatan, Surat Pekeliling Perkhidmatan & Surat Edaran
Azam Baki's shareholding records not public documents, says Azalina
KUALA LUMPUR: Records relating to former Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki's shareholdings are not public documents and cannot be disclosed.
Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said the issue of asset ownership and declarations, including Azam's shareholdings, had been reviewed by a special investigation committee established on Feb 13.
She said the committee had completed its investigation independently, transparently and professionally, with its findings presented to the cabinet.
"Regarding the request for a list of share purchase transactions and the period during which the holdings exceeded a certain value, the requested information forms part of the investigation documents, personal information and asset declarations protected under the provisions of the law and is not a public document," she said in a written parliamentary reply today.
Azalina was responding to Petaling Jaya member of parliament Lee Chean Chung (PH), who sought details of Azam's share purchase transactions from 2012 to 2026, including the period during which his total shareholdings exceeded RM100,000.
However, Azalina said the government assured that all relevant aspects, including share ownership and compliance with applicable regulations, had been examined during the investigation.
"An announcement will be made by the Office of the Chief Secretary to the Government, in line with the media statement issued on March 31, if there are any developments or decisions relating to this matter that are appropriate to be made public," she said.
The "corporate mafia" allegations were raised in a Bloomberg report in February, which accused the MACC of allegedly helping a group of businessmen gain control of public-listed companies.
Both Azam and the commission have denied the allegations.
Bloomberg also reported that Azam held 17.7 million shares in Velocity Capital, citing a filing with the Companies Commission of Malaysia. The shareholding was disclosed in Velocity Capital's annual return.
Based on the company's share price, the stake was worth about RM800,000. Azam has maintained that his shareholding in the financial services company was transparent and properly declared.
The issue also prompted five lawmakers to issue a three-point proposal following a memorandum submitted by representatives of 51 non-governmental organisations (NGOs), calling for a Royal Commission of Inquiry (RCI) into Azam's shareholdings and the alleged corporate mafia activities. - NST, 8/7/2026
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