Cabinet forms committee and orders wider investigations into corporate manipulation allegations while reviewing report on MACC chief Azam Baki’s shareholding issue.

PUTRAJAYA: A new committee chaired by the Second Finance Minister will begin work tomorrow, with its findings to be presented at a special Cabinet meeting this Friday, Communications Minister Datuk Fahmi Fadzil said today.

Fahmi also said the Cabinet had received and discussed the investigation report prepared by the Attorney General regarding the shareholding issue involving the Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki.

According to him, the Cabinet has decided that further action on the matter will be taken by the Chief Secretary to the Government.

“I will not disclose the findings of the report as there are further steps that need to be taken by Tan Sri, the Chief Secretary.

“For more details, we will await a statement from him,” Fahmi said.

He added that the Cabinet also discussed allegations of corporate manipulation that had been reported by several media outlets.

Fahmi said the government was informed that investigations involving several individuals had already begun a few years ago.

The Cabinet has since instructed enforcement agencies — including the Police, the Securities Commission Malaysia, MACC and the Inland Revenue Board of Malaysia — to continue comprehensive investigations into the matter.

“These investigations should not be limited only to the individuals currently under preliminary scrutiny,” he said.

Fahmi added that enforcement agencies were also directed to take appropriate legal action, including seizing assets believed to be linked to criminal activities.

He said the government will also review whether there are gaps in existing laws that may have enabled the alleged corporate manipulation to occur.

 The Sun Malaysia