Malaysians to protest after Securities Commission probe into claims of improper stock trading by anti-corruption chief Azam Baki is ‘inconclusive’

Top graft-buster has dominated headlines for weeks since whistle-blower revealed he owned stocks worth more than the US$24,000 limit

Azam, who says his brother bought the shares, has escaped censure from the commission, but the news will only rile opponents planning to protest this weekend

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A poster for a protest planned against Malaysia’s anti-corruption chief. Photo: Internet

Published: 4:53pm, 18 Jan 2022Updated: 8:53pm, 18 Jan 2022

Malaysia’s Securities Commission on Tuesday said an investigation into allegations of improper stock trading by the country’s anti-corruption chief was inconclusive, a finding likely to further rile government critics who are planning a protest against the official this weekend.

In an immediate response to the capital markets regulator’s decision, Azam Baki, the chief commissioner of the powerful Malaysian Anti-Corruption Commission (MACC), framed the probe’s findings as conclusive that he did not commit an offence.

He said he was grateful for the decision and would “continue to fight corruption in the country without fear or favour”.

Azam, 58, has dominated headlines for weeks since a whistle-blower revealed he owned stocks of publicly listed companies well above the 100,000 ringgit (US$24,000) threshold set for civil servants.

The saga took a twist after Azam revealed in a press conference that it was his brother Nasir who purchased the shares with his trading account.

While the Securities Commission launched an investigation, Azam and senior MACC officials dug in their heels – saying that the claims against the top graft-buster were motivated by “revenge politics”.