Set up special committee to investigate Azam Baki - PAC chairman

Wong (PH-Ipoh Timur) said the committee needed to investigate Azam's shareholding issue and present a report to Parliament.

"Until today the public is not told what was the real situation and what had actually happened.

"Yesterday, Minister in the Prime Minister's Department (Datuk Seri Dr Wan Junaidi Tuanku Jaafar) replied that the issue has been resolved between the Securities Commission Malaysia (SC) and Azam, but what has been resolved?" he asked when debating the Royal address in the Dewan Rakyat sitting today.

Last January, the Parliamentary Select Committee (PSC) decided that a meeting be held to call Azam to clarify issues regarding his share ownership.

However, the proceeding planned on Jan 19 was postponed and the chairman of the committee Abdul Latiff Abdul Rahman said he would refer to the Parliamentary Legal Advisor's Office as there were several issues that required legal opinion before the proceeding.

Meanwhile, in a written reply to the Dewan Rakyat today, the Finance Ministry said the results of the SC's inquiry showed that Azam was the nominee of the share account and he had authority over the account.

"Azam had been managing the share account which he had opened and has given instructions to sell, buy and transfer shares from the account," it said.

According to the Ministry of Finance the SC as the authoritative party had terminated the inquiry and based on independent evidence obtained, the SC decided that Azam had not breached section 25 (4) of Act 453.

The Finance Ministry said this in reply to a question from Khoo Poay Tiong (PH-Kota Melaka) who asked its minister whether the SC had called Azam in the investigation into the share account and the SC's justification in concluding that he was the nominee and had authority over the account.