SPA calls on parties not to comment on MACC chief’s shares ownership report

Datuk Lau Pang Heng

KUCHING (Jan 12): Sarawak Patriots Association (SPA) chairman Datuk Lau Pang Heng has called on all parties to give authorities time to complete the investigation into report of Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki owning substantial amount of shares in public listed companies.

He urged the people to refrain from making remarks on the controversy as their opinions could affect the outcome of the investigation.

“In the past few days, I have received many calls from concerned Sarawakians expressing concern on the issue surrounding MACC. I advised them to remain calm while the authorities are doing their investigations.

“I am also perturbed that some politicians, including a Sarawak federal minister, seem to be justifying the purchase of shares by a civil servant, as he should have given time for the authorities to conduct their investigations,” he said in a statement yesterday.

Lau noted that Azam had explained to the Anti-Corruption Advisory Board that it was his brother who used his stock account to buy shares in 2015 and that he did not hold any pecuniary interest on the shares.

Lau pointed out the Malaysia Securities Commission, citing Section 25 of the Securities Industry (Central Depositories) Act (Sicda), said every securities account opened with the central depository must be in the name of the beneficial owner of the deposited securities or in the name of an authorised nominee.

“The regulatory authority further added that Section 29A of Sicda stipulates that all dealings in securities shall be affected only by the beneficial owner of the securities or an authorised nominee. It was reported that the Securities Commission will call the MACC chief commissioner for questioning,” he said.

from Borneo Post Online https://bit.ly/332QmaB
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