PRIME Minister Ismail Sabri Yaakob’s clearance of Malaysian Anti-Corruption Commission (MACC) chief commissioner Azam Baki of any wrongdoing in the share ownership issue confirms the rot is at the top, P. Ramasamy said today.

The Penang deputy chief minister said he was surprised and shocked that Ismail would completely exonerate Azam without even establishing an investigation panel. 

“Previously I wondered why Ismail was rather quiet on the issue involving Azam.

“I thought he was gathering more information before springing a surprise.

“Yes, he did spring a surprise nonetheless, but shockingly so. Now I realise that Ismail wanted the Securities Commission to clear Azam before he made a statement. 

“Ismail’s statement has exonerated Azam from any wrongdoing or corruption,” said the DAP leader.

He added that country’s governance was going nowhere with a person like Ismail in power.

“He might be considered weak, but he certainly knows what he is doing. The top is rotting!” 

Yesterday, Ismail said SC’s decision on Azam’s trading account should be accepted by all parties.

“The SC has made a decision. (This matter) was left to the SC as it involves the purchase of shares. So the SC has made a decision and it says there is no case against him (Azam), so we accept it,” he said.

The SC said on Wednesday that there was no breach of section 25(4) of the Securities Industry (Central Depositories) Act 1991 in relation to Azam’s trading account. 

In a statement, the SC clarified that the independent evidence gathered at the inquiry into Azam’s trading account showed that the latter was the account holder and had control of the said account.

 Ramasamy also questioned why the SC made no reference to Azam’s brother, the person whom the shares were held on behest.

“Was it a blatant lie that Azam held shares on behalf of his brother?” he asked.

He also asked if the SC was forced to clear Azam as the agency itself was under the radar of MACC’s investigation over alleged conflict of interest of its top officials.

Turning his attacks back to Ismail again, Ramasamy also said the prime minister was enjoying a stable position due to the memorandum of understanding (MOU) between him and Pakatan Harapan.

“One can engage endlessly in the pros and cons of the MOU, but Ismail’s unthinking act of clearing Azam has rendered the MOU null and void.

“There must be a basis for the MOU. It cannot be a closed book. Its relevance is subject to periodic review.

“Now the question is: how can the MOU be intact when Ismail had cleared Azam without even an investigation?”

The shares Azam was said to have owned were 2.15 million in Excel Force MSC Bhd in 2015, as well as the 1.93 million shares in Gets Global Bhd the same year and 1.02 million shares the following year. At this time Azam was the MACC’s director of investigations. 

At a press conference on January 5, Azam said the shares were bought by his brother Nasir using his (Azam’s) trading account, and were later transferred to the brother, leaving him with no pecuniary interest. 

He also said he informed his superiors at the time about the purchase and they raised no concerns. – January 20, 2022.