Malaysia’s Cabinet orders probe into anti-graft chief Azam

Published Fri, Feb 13, 2026 · 05:40 PM

[KUALA LUMPUR] Malaysia’s Cabinet has ordered an investigation into the allegations surrounding anti-graft chief Azam Baki, days after a report said he had shareholdings that were higher than the allowed limits for public officials.

The Cabinet has directed a special committee to look into the matter, Communications Minister Fahmi Fadzil said on Friday (Feb 13). 

The Malaysian Anti-Corruption Commission (MACC) did not immediately respond to a request for comment. Earlier on Friday, Azam said that he was fully open to being investigated and had nothing to hide.

The Cabinet announcement comes after Bloomberg News reported this week that Azam, chief commissioner of the MACC, owned 17.7 million shares of Velocity Capital Partner, as indicated by an annual filing made by the financial services company to the Companies Commission of Malaysia.

That stake would have been worth almost RM800,000 (S$258,506) at the time of the report.

A 2024 Malaysian government circular, which provides guidance on 1993 regulations stipulating the conduct of public officials, says a public servant may purchase shares in a company incorporated in Malaysia on the condition that they do not exceed 5 per cent of its paid-up capital or RM100,000 in value, whichever is lower.

They must also declare assets at least once every five years, and at the time of the purchase and sale of holdings.

Fahmi said on Friday that the Cabinet did not discuss whether Azam would be suspended during the probe. He added that the committee conducting the investigation will be led by Shamsul Azri Abu Bakar, the chief secretary to the government.

The report on Azam’s shareholding has caused an outcry in Malaysia, with people calling for his suspension or resignation. A protest is planned for Sunday in Kuala Lumpur, echoing a previous march in 2022 when Azam was earlier reported to hold shareholdings worth more than the limit for public officials.

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In his statement on Friday, Azam said he did nothing wrong.

“All financial and asset declarations have been made in accordance with the prevailing public service regulations and through the prescribed official channels, as required of every public officer,” he said.

In a statement after the report, the MACC said Azam has “fully complied with the applicable asset declaration requirements” in respect to sources of income and acquisition and disposal of assets, including shares. 

Malaysia’s Public Service Department said on Thursday that it is reviewing rules for public officials, including those on stock ownership, some of which have been in place for more than 20 years.

Also on Thursday, Bloomberg published a report containing allegations that MACC officials were helping a group of businessmen seize control of companies.

Both the agency and the businessmen who responded to requests for comment from Bloomberg denied any wrongdoing. BLOOMBERG