IPOH, Jan 8 — DAP secretary-general Lim Guan Eng today criticised Prime Minister Datuk Seri Ismail Sabri Yaakob for his silence on the Malaysian Anti-Corruption Commission (MACC) chief commissioner’s stock trading scandal

Lim said that retaining Tan Sri Azam Baki as MACC chief commissioner will be seen as another example of his failed leadership.

"It is ethically, morally and even legally untenable for Azam Baki to continue remaining as MACC chief commissioner when he admitted to the ownership and purchase of millions of shares and warrants in between 2012 to 2016 was transacted on behalf of his younger brother, Nasir Baki, who had used Azam’s shares account as a proxy,” he said in a statement.

Lim said that Azam allowing his share trading account to be used by his younger brother has also attracted attention of the Securities Commission for possible misuse of a trading account.

"Clearly, this is an offence under Section 25A of the Securities Industry (Central Depositories) Act 1991 (Sicda), which forbids individuals from trading securities using another person’s trading account unless he or she is an authorised depository agent,” he said.

The Bagan MP explained that an offence under Section 25 is punishable with a fine of up to RM3 million, or imprisonment of up to 10 years, or both.

"Further, Section 23 of Service Circular 3/2002 forbids a civil servant from owning more than RM100,000 in shares,” he added.

Lim said that under Ismail Sabri’s watch as prime minister, the economy and the Covid-19 pandemic has not improved with 31,644 deaths and 2,769,533 infections as of January 7.

"Malaysia posted the worst economic growth in Asean with negative 4.5 per cent contraction for the third quarter 2021 following the failures of the serial total lockdowns,” he said.

"The failed management of the flood disasters in several states recently which caused more than 50 deaths and an estimated RM20 billion in economic losses is a black stain on Ismail Sabri’s record that will only be compounded adversely by his failure to act against Azam.

"These two failures will prove that Ismail Sabri will be worse than Muhyiddin and leave him with the unenviable record as the worst Prime Minister in Malaysian history,” he added.

He further slammed Azam Baki for suing whistleblower Lalitha Kunaratnam for defamation by demanding an apology and RM10 million.

"This will not make his impropriety and illegal conduct disappear since Azam’s admission is evidence that he did own the shares and had violated the law by allowing his shares account to be used as a proxy by his younger brother.

"In fact, this defamation action is unlikely to proceed when there is clearly no cause of action for him against Lalitha who had stated the actual facts, and clearly intended to cover and distract attention from failing to justify his wrongful conduct,” he said.

Lim also said that DAP Legal Aid Bureau chief and MP for Bukit Glugor Ramkarpal Singh and Kepong MP Lim Lip Eng have offered to fully assist and back Lalitha should Azam proceed with the defamation action.