New Bloomberg report claims PM blocking release of Azam shares probe

Prime Minister Anwar Ibrahim is blocking the release of a report detailing the outcome of an investigation into the shareholdings of Azam Baki, Bloomberg reports, amid intense speculation that the recent government probe may have uncovered ownership of at least RM14 million worth of shares held by the embattled chief of the Malaysian Anti-Corruption Commission (MACC).

The report also stated that Azam, whose tenure at MACC is unlikely to be extended amid pressure for his immediate dismissal, is now seeking appointment as a senator, a position that would require Anwar to recommend him to the Agong.

Bloomberg said Azam and the Prime Minister’s Office had not responded to the claims.

MalaysiaNow has also reached out to the MACC chief.

In its report today, Bloomberg quoted sources as saying that Anwar requested that a report by the government committee which investigated Azam's shareholdings, and presented to the Cabinet this month, not be made public pending a separate probe into allegations of MACC's ties with a group known as the "corporate mafia".

"Anwar’s concern is that making the shareholding report public would undermine perceptions of his government ahead of a possible general election that could come as early as this year," the report quoted the sources as saying.

It comes as questions swirl over speculation that a three-member investigation committee led by Attorney-General Mohd Dusuki Mokthar found Azam holds shares worth more than RM14 million in nine companies, far exceeding the amount reported by Bloomberg earlier.

In February, Bloomberg published two explosive revelations concerning Azam’s unusual wealth and claims that he has ties with rogue individuals.

It reported that Azam held millions of shares worth approximately RM800,000 in a listed company, in violation of a government circular prohibiting public servants from such holdings.

Azam has since admitted to purchasing the shares last year, while still the MACC chief, but said he did not break any laws.

This was followed by another Bloomberg report on 12 Feb, linking Azam to a group of people known as the "corporate mafia", which it said worked in cahoots with the MACC to prey on businessmen and forcefully seize ownership of public-listed companies.

The revelation renewed calls for Azam to be removed as the MACC chief commissioner, and for the government to set up a royal commission of inquiry into the allegations.

Anwar, who has extended Azam's tenure three times, has scoffed at calls to remove Azam.

"The man does his work, why do you want to fire him? Read his explanation. It's a disease. Why do you condemn people who do work? Wrong," Anwar famously replied to reporters.

Anwar later announced a three-member committee to investigate the claims on Azam's shares, led by the attorney-general, which also includes Public Service Department director-general Wan Ahmad Dahlan Abdul Aziz and Treasury secretary Johan Mahmood Merican.

On March 11, the government confirmed it had received the report from the committee but stopped short of announcing its findings. Instead, the government said the Cabinet had instructed Chief Secretary to the Government Shamsul Azri Abu Bakar to take follow-up disciplinary action.

On March 13, Pandan MP and former minister Rafizi Ramli cited government sources who told him that the committee had discovered more than RM14 million worth of shares held by Azam, and urged Putrajaya to come clean on the matter.

"If it is true that the total shares in the nine companies amounted to RM14 million, the government's failure to investigate the source of Azam Baki's wealth will be seen as proof that it is colluding to shield him," he said.

Today's Bloomberg report also comes on the back of a stunning claim by investor Victor Chin, who has been the subject of a police investigation into allegations that a group of "corporate mafia" was working in cohort with MACC officers to forcibly take ownership of listed companies.

Chin has since fought back against the accusations, and released a series of documents and statements to prove his innocence.

Saying he himself was a victim of the "corporate mafia", he threatened to name a certain PKR MP whom he said took RM9.5 million from him with the promise of appeasing the "corporate mafia" to prevent companies linked to him from being seized.

Chin has also threatened to disclose the identity of the politician if his money is not returned by March 31.

There were suggestions that the individual is a minister in Anwar's Cabinet and an MP for a Klang Valley constituency.

A day after Chin made the claim, Human Resources Minister R. Ramanan held a surprise press conference, challenging Chin to name him so that legal action could be taken.

Following this, Rafizi, in his "Yang Berhenti Menteri" podcast, predicted that the unnamed MP would eventually return the money to Chin and, as such, his identity would never be made public. In a follow-up episode, Rafizi announced that he had been informed the money had been returned.