Minister of Justice: Azam Baki Shares are Only RM330,000, Affordable and Cheap | Malaysia

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Minister in the Department of Prime Minister (Parliament and Law) Datuk Seri Wan Junaidi Tuanku Jaafar during a press conference after attending the Dewan Negara conference in Parliament, December 23, 2021. – Bernama pic

KUALA LUMPUR, Jan. 8 – Prime Minister’s Department Minister Datuk Seri Wan Junaidi Jaafar has said the shares held by Malaysia’s Chief Commissioner for Anti-Corruption (MACC), Tan Sri Azam Baki, are not cheap when purchased.

In a statement today, Wan Junaidi said that when the shares were first purchased in 2016, the million shares were valued at only RM330,000 – at an approximate price between 0, RM30 and RM0.33 per share and the current size of the share he holds at the time had accumulated over the years.

“Based on the initial price, it’s not an expensive stock to buy.

“I think it’s affordable for many of us and for those who are active traders in the stock market, it’s also normal to gradually increase your stock holdings over time, especially when you see the potential” , Junaidi said, adding that there are no laws or regulations preventing officials from acquiring shares in publicly traded companies.

He said that under the Regulation of Public Officials (Conduct and Discipline) Act 1993, civil servants are only prohibited from trading in the futures market, locally and overseas, while those who hold shares in publicly traded companies are required to report them as assets.

Meanwhile, on the demands to put the MACC under the parliament, Wan Junaidi said that this issue is not simple and needs to be considered carefully.

“For the MACC to be effective, it must operate independently.

“The establishment of the MACC under the MACC Act 2009 ensures the independence of the commission and this should in no way be compromised,” he added.

Over the past month, reports have emerged alleging that Azam holds a substantial number of shares in several publicly traded companies.

Azam, in a press conference on Wednesday, said he explained to the Anti-Corruption Advisory Board (ACAB) that his stock account was used by his brother to buy shares on the open market with his own funding. last.

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