Malaysia to form special committee to probe allegations against anti-corruption chief
Malaysia will form a special task force to investigate allegations against MACC chief Tan Sri Azam Baki over reported shareholdings exceeding public service limits, amid parliamentary scrutiny and legal action against Bloomberg.
- The Cabinet will form a special task force to investigate allegations concerning MACC chief’s shareholdings.
- The probe follows reports by Bloomberg alleging breaches of public service shareholding limits.
- Opposition lawmakers have called for Azam’s suspension and wider reforms to the anti-graft agency.
KUALA LUMPUR, MALAYSIA: The government will establish a special committee to investigate allegations involving the chief commissioner of the Malaysian Anti-Corruption Commission (MACC), following media reports questioning his compliance with public service shareholding rules.
Communications Minister Fahmi Fadzil announced on 13 February 2026 that the Cabinet had agreed to form a task force to examine the controversy surrounding Tan Sri Azam Baki’s alleged share ownership.
The task force will be led by the Chief Secretary to the Government, Shamsul Azri Abu Bakar.
Fahmi said the findings would be reported back to the Cabinet for further action.
“This is an effort to ensure the aspects of transparency and integrity of the investigation process,” Fahmi told reporters during his weekly press conference. He did not specify which allegations would be covered.
The move follows reports by Bloomberg earlier this week, citing a corporate filing from 2025.
The report stated that Azam held 17.7 million shares in a financial services firm, valued at approximately RM800,000 (about US$205,000).
The reported value exceeds the RM100,000 limit permitted for public servants under existing regulations.
In a subsequent report on 12 February, Bloomberg alleged that MACC officials were assisting a group of businessmen to take control of companies, citing internal documents and interviews.
Azam Baki: "I have nothing to hide"
Azam responded on 13 February, stating he was prepared to be investigated and had “nothing to hide”. He said his financial and asset declarations were made in accordance with public service laws.
“I am confident that the truth will prevail through a fair and independent process,” he said in a statement.
State news agency Bernama reported that Azam had initiated legal action against Bloomberg.
His lawyers, Messrs Zain Megat & Murad, have sent a letter of demand to Bloomberg’s offices in the United States and Malaysia.
Previously, Azam criticised Bloomberg’s coverage as malicious and misleading.
He said he had declared the shares to the public service department and that they were purchased and disposed of within the same year.
MPs raise concern in Parliament
The allegations have prompted renewed scrutiny in Parliament. During proceedings on 10 February, 2026, several Members of Parliament called for further investigation.
Hassan Abdul Karim asked whether Azam could be placed on garden leave pending an independent probe. He noted that former prime ministers Muhyiddin Yassin and Ismail Sabri Yaakob had previously been investigated by the MACC.
Ramkarpal Singh questioned what action would follow if Azam were found to have exceeded the permitted shareholding limit.
Pandan MP Rafizi Ramli raised broader concerns about Azam’s alleged links to corporate transactions involving NexG Berhad and MMAG Holdings.
Rafizi said NexG secured more than RM2.5 billion in government contracts in August and October 2025. These included a RM1.73 billion six-year contract from the Home Ministry to supply passports.
He also alleged that shares purchased by businessman Farhash Wafa Salvador Rizal Mubarak in MMAG were pledged to Velocity Capital, a firm in which Azam was said to hold shares.
“This means that Velocity Capital is the money-lending company involved in transactions concerning Farhash and linked to NexG Berhad,” Rafizi said, calling for Azam’s immediate suspension.
Farhash denied having any business links with Azam, according to Malaysiakini.
Corporate records indicate that Velocity Capital, listed on Bursa Malaysia, previously operated in transportation, logistics and ceramics manufacturing. It has since pivoted towards financial services, including moneylending.
The episode has revived debate over governance and oversight of Malaysia’s anti-corruption agency.
Azam previously faced criticism in late 2021 over questions surrounding his stockholdings. In January 2022, protesters gathered in Kuala Lumpur calling for his resignation.
Prime Minister Anwar Ibrahim has extended Azam’s one-year contract three times after he reached mandatory retirement age, praising what he described as Azam’s “extraordinary courage” in pursuing cases involving influential figures.
Azam’s current contract is scheduled to end in May 2026.
