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Law minister: Azam Baki’s shares only RM330k, affordable and not expensive
savemalaysia
Publish date: Sun, 09 Jan 2022, 08:31 AM
KUALA LUMPUR, Jan 8 — Minister in Prime MInister’s Department Datuk Seri Wan Junaidi Jaafar said shares owned by the Malaysian Anti-Corruption Commissioner (MACC) chief commissioner Tan Sri Azam Baki were not expensive when they were bought.
In a statement today Wan Junaidi said when the shares were first purchased in 2016, the one million shares were only valued at RM330,000 – approximately priced between RM0.30 and RM0.33 per share and the current share size he is holding at the moment had accumulated over the years.
“Based on the initial price, it is not an expensive share to acquire.
“I believe it is affordable to many of us and for those who are active stock market traders, it is also normal to gradually increase your share holding over time especially when you see the potential,” said Junaidi, adding that there is no law or regulations preventing government servants from acquiring shares in public listed companies.
He said Under Public Officers Regulations Act (Conduct and Discipline) 1993, government servants are only prohibited from trading in the futures market, locally and abroad while those who own shares in public listed companies are required to declare them as assets.
Meanwhile, on demands to place MACC under Parliament, Wan Junaidi said this issue is not a simple matter and needs to be looked into carefully.
“In order for MACC to be effective, it needs to operate independently.
“The establishment of MACC under the MACC Act 2009 ensures the commission’s independence and this should not be compromised in any way,” he added.
Over the past month, reports emerged alleging that Azam owned a substantial amount of shares in several publicly-listed companies.
Azam, in a press conference on Wednesday, said he had explained to the Anti-Corruption Advisory Board (ACAB) that his share account had been used by his brother to buy stocks in the open market with the latter’s own financing.
https://www.malaymail.com/news/malaysia/2022/01/08/law-minister-azam-bakis-shares-only-rm330k-affordable-and-not-expensive/2033832
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Discussions
Be the first to like this. Showing 20 of 20 comments
You would think that a Minister in Prime MInister’s Department, Datuk Seri Wan Junaidi Jaafar would get even the simplest of facts correct before making a public statement.
He has referred to "one million shares", when in actual fact it is 2,156,000 Warrants in the company. See page 118 of the company's annual report
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=174933&name=EA_DS_ATTACHMENTS
Mr. Azam bin Baki is holder position 5 on the Warrant holders list.
2022-01-09 09:32
KUALA LUMPUR (Jan 9): The police have confirmed receiving a report on the admission by Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki that he allowed his brother Nasir Baki to use his account to purchase shares.
So is Azam so poor that he allowed his brother to use his account for maybe some commission fee?
So next time can I allowed my bank account to be used my syndicate for money laudering to earn some commission fee?
2022-01-09 10:40
AH Jib should use this excuse (it's his bro's money) instead of donation fm the Arab....then case can be closed n NFA.
2022-01-09 10:44
It would be interesting to know the reason why he gave permission to his brother to purchase shares into his account. That it factual as reported by Mr.Azam Bin Baki, so I would have thought the question needs to be asked about the reason.
A few on social media have suggested that perhaps his brother didn't have a share trading account. The following Annual Report from Get Global confirms the brother did have an account sometime in 2015. The current controversy concerns ownership in ExcelForce, not Get Global
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=174849&name=EA_DS_ATTACHMENTS
Notably on page 89 we can see that in position 8, his brother Nasir Bin Baki held shares in his own name, along with Azam Bin Baki being a holder at position 19.
2022-01-09 11:05
Putar Halim
Pusing sampai problem hilang
pusing adik punya
pusing skit jer
pusing lagi
nanti boleh Lepas
2022-01-09 13:03
So many lies! First the brother use his share account! Then now tell us he only brought 300k shares back in 2016! Moral of the story, please tell consistent lie! You can't say you flush your turd before your actually dump your big load!
2022-01-09 13:22
Agree with comment above. Najib should said Arab donation 2.6b to his brother and his brother just make use of his bank account. Case closed NFA.
2022-01-09 13:56
I would think even if it is brother or sister's account, one would have second thought of using account other than own account. Why leh ? what if brother or sister doesn't want to give you back the share ? lol . I cannot understand the rationale behind his brother using his account. Anyway, biasa lah. story will pusing and pusing , then case closed.
2022-01-09 19:25
Exactly, brother cannot open account meh . Must have just came out of kampung don't know how to do it and had to use big brother account . Maybe lah
2022-01-10 00:18
wow !!
shocking news !!
Minister is calling Azam Baki a LIAR !!
now Minister confirms shares actually belong to Azam Baki and not the brother.
That means Minister confirms Azam Baki testimony to Anti-Corruption Advisory (actually Investigation) Board is a pack of lies !!!
That means Anti-Corruption Advisory (actually Investigation) Board punya press conference is based on lies and fake testimoney by Azam Baki
Shocking !!!
Ministers should not call MACC chief as liars !!!!!
2022-01-10 08:21
Law minister do not know the law loh!
Very silly & poor quality minister mah!
Posted by i3lurker > Jan 10, 2022 8:21 AM | Report Abuse
wow !!
shocking news !!
Minister is calling Azam Baki a LIAR !!
now Minister confirms shares actually belong to Azam Baki and not the brother.
That means Minister confirms Azam Baki testimony to Anti-Corruption Advisory (actually Investigation) Board is a pack of lies !!!
That means Anti-Corruption Advisory (actually Investigation) Board punya press conference is based on lies and fake testimoney by Azam Baki
Shocking !!!
Ministers should not call MACC chief as liars !!!!!
2022-01-10 12:31
LIARS and COWARDS
Keep repeating other people lies
No telors to try and test IF third parties can use your trading account
Monkeys HEARs monkeys BELIEVEs
High postcount Low IQ
2022-01-10 12:40
The law is law mah!
Must follow the law loh!
This law minister boloh loh!
Posted by stockraider > Jan 10, 2022 12:31 PM | Report Abuse X
Law minister do not know the law loh!
Very silly & poor quality minister mah!
Posted by i3lurker > Jan 10, 2022 8:21 AM | Report Abuse
wow !!
shocking news !!
Minister is calling Azam Baki a LIAR !!
now Minister confirms shares actually belong to Azam Baki and not the brother.
That means Minister confirms Azam Baki testimony to Anti-Corruption Advisory (actually Investigation) Board is a pack of lies !!!
That means Anti-Corruption Advisory (actually Investigation) Board punya press conference is based on lies and fake testimoney by Azam Baki
Shocking !!!
Ministers should not call MACC chief as liars !!!!!
2022-01-10 12:44
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This is exactly how "orang kita" speak ... even before any investigation!
2022-01-09 08:56