MACC chief Azam Baki clarifies RM800,000 Velocity Capital shares were declared and transparent
PUTRAJAYA: Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki has clarified that his past shareholding in Velocity Capital Bhd was fully declared and conducted transparently.
Speaking to the New Straits Times, Azam said he had nothing to conceal regarding the RM800,000 stake, stressing that the transaction was properly documented through the Human Resource Management Information System (HRMIS) and submitted to the Public Service Department.
He explained that the shares were acquired last year and disposed of within the same year. Azam described recent reports questioning the transaction as “malicious and misleading,” adding that he is considering legal action over what he views as defamatory claims.
Earlier, Bloomberg reported that Azam was listed as holding 17.7 million shares in Velocity Capital Bhd, citing filings with the Companies Commission of Malaysia (SSM).
The company’s annual return, lodged on February 3 last year, disclosed the shareholding. Based on the firm’s share price at Monday’s close, the stake was valued at approximately RM800,000.
Velocity Capital, listed on Bursa Malaysia, was previously involved in transportation, logistics, and ceramics manufacturing. It has since shifted its focus toward financial services, including moneylending.
Azam reiterated that his declarations were made in accordance with regulations and emphasized that the allegations circulating online misrepresented the facts