Deputy Minister in the Prime Minister’s Department (Law and Institutional Reform) M. Kulasegaran told the Dewan Rakyat that the shareholding linked to Malaysian Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki had been disclosed to the Cabinet and relevant authorities, stressing that the matter should be assessed strictly according to the law and established procedures.
Speaking during the winding-up of the motion of thanks for the Royal Address on February 10, Kulasegaran said allegations highlighted in an international business publication should not be treated as conclusive without due verification. He maintained that the principle of accountability applied to all individuals in Malaysia, including the head of the anti-graft agency, but cautioned against drawing conclusions based solely on media reports.
Kulasegaran explained that he was unable to find any existing regulation or statutory provision that set a specific limit on investment holdings by civil servants. In his review of the matter, he said no rule imposed a cap on such investments, provided they were properly declared to the relevant authorities. He added that his understanding was that Azam’s investment had been reported from the time it was made, ensuring that disclosure requirements were met.
The deputy minister was responding to a query raised by Pasir Gudang MP Hassan Abdul Karim, who questioned whether the government had initiated an investigation into the MACC chief, noting that probes had previously been conducted against other high-profile figures, including senior officials and former national leaders. Kulasegaran reiterated the legal principle that individuals are presumed innocent until proven guilty and said allegations alone did not automatically warrant punitive action.
He emphasised that any decision on whether further investigation was necessary rested with the Prime Minister and the Cabinet, adding that the government was not avoiding responsibility but was committed to following legal processes. Kulasegaran also cautioned against acting as a proxy for external media narratives, stating that claims must be verified through lawful channels before any determination could be made.
Azam defended his former shareholding in Velocity Capital Bhd, describing the transaction as transparent and properly declared. According to a local daily, Azam said he had reported the RM800,000 stake through the Human Resource Management Information System to the Public Service Department, underscoring that he had nothing to conceal.
Kulasegaran concluded by affirming that while scrutiny of public officials was necessary to maintain trust, decisions must be grounded in evidence, legality, and due process rather than speculation or public pressure.
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