Chief secretary to decide on Azam, cabinet orders probe on 'corporate mafia'

Government spokesperson Fahmi Fadzil said Chief Secretary to the Government Shamsul Azri Abu Bakar will decide on action against MACC chief commissioner Azam Baki over the latter’s shareholdings issue.

At the same time, the cabinet has ordered law enforcement agencies to investigate allegations of “corporate manipulation”, Fahmi (above) said.

This followed calls by some cabinet members and leaders on both sides of the political divide for a royal commission of inquiry to investigate claims of a “corporate mafia”.

International business outlet Bloomberg first made the allegations, claiming that certain business figures and some officers in the MACC were colluding to take over Malaysian companies.

Report received, discussed

On allegations that Azam had owned shares above what was permitted under civil service regulations, Fahmi said the cabinet had received and discussed the report by a government committee led by Attorney-General Dusuki Mokhtar.

Fahmi, however, did not disclose details of the investigation.

“The cabinet has decided that further action will be taken by the chief secretary (to the government),” Fahmi said during a special press conference in Putrajaya today.

“I will not divulge the details of the report... For further information, we will wait for (the chief secretary’s) statement.”

READ MORE: Azam has shares in another company worth over RM1m

Fahmi added that the enforcement agencies that will continue to probe the “corporate manipulation” claims include the police, Inland Revenue Board, the MACC and Securities Commission.

He said funds allegedly linked to criminal elements will be seized.

“Investigations are looking into whether there exist loopholes in the law that make it possible for corporate manipulation to occur,” he added.

He also said that several individuals have already been on the agencies’ radar for several years.

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