On 13 February, the chief secretary to the government, Shamsul Azri Abu Bakar, announced the formation of a committee to investigate allegations surrounding Malaysian Anti-Corruption Commission (MACC) chief Azam Baki’s alleged shareholdings, exposed by Bloomberg in its first report on 10 February.

The committee comprises three senior members of the executive: Attorney General Dusuki Mokhtar as head, together with Public Service Department director general Wan Ahmad Dahlan Abdul Aziz and Treasury secretary Johan Mahmood Merican.

The Center to Combat Corruption and Cronyism (C4 Center) strongly criticises this investigative committee as insufficiently independent from the executive, thereby doing little to restore public confidence.

While the formation of a committee may appear responsive, an investigation led and controlled by the executive cannot be considered genuinely independent – particularly when the subject of the investigation is himself an executive appointee.

Furthermore, there has been no mention of public disclosure of findings from the investigative committee – they will instead be communicated to the prime minister and civil service disciplinary authority for further action.

Initial response a cause for concern

Recent context adds to the concern. The response to the first Bloomberg report from individuals and organisations connected to the executive were dismissive of the allegations.

Furthermore, some appeared to focus on the matter of disclosure and not at all on the main concern of prohibited share purchasing by Azam. The chief commissioner has himself admitted to the purchase of the shares. Responses include:

• 10 February – The MACC released a statement describing Bloomberg’s report as containing misleading statements and unfounded allegations. The statement did not specifically address Azam’s share purchases and instead defended his asset declarations as following proper procedure.
• 11 February – Prime Minister Anwar Ibrahim, on being questioned about whether Azam should be sacked for a potential violation through his share purchases, responded by saying: “Why should I sack someone who is doing their job?… Read his (Azam’s) explanation.”
• 12 February – Salim Fateh Din, the chairperson of the Anti-Corruption Advisory Board, said the MACC cannot be judged on “accusations and confusing narratives that are not based on facts”. He added that Azam had declared his shareholdings through official channels in line with regulations.

A police investigation has also been launched against Bloomberg under Section 500 of the Penal Code for defamation and Section 233 of the Communications and Multimedia Act 1998 for improper use of network facilities or network services.

It bears repeating that the first Bloomberg report exposed but one of three exposes of questionable shareholdings by Azam. The others were by an independent journalist in 2021 that sparked street protests demanding Azam’s arrest and another by Malaysiakini on 11 February 2026.

These responses suggest a troubling attempt to pre-empt meaningful scrutiny before any independent investigation has even begun. Rather than addressing the central question of whether prohibited share transactions took place, official reactions have focused narrowly on disclosure procedures and personal explanations.

This framing reduces a serious governance issue to a technical debate over asset declarations, while ignoring broader questions of conflict of interest, institutional influence and accountability at the highest levels of enforcement leadership.

Parliamentary oversight needed

The central issue is not whether an investigation exists, but whether it is structurally free from political influence.

People in Malaysia have repeatedly witnessed internal processes that failed to resolve longstanding questions surrounding Azam’s shareholdings.

Establishing another executive-managed mechanism will reinforce the perception that powerful institutions continue to investigate themselves.

Equally concerning is the decision to allow Azam to remain in office while the investigation proceeds. In any credible governance framework, administrative leave serves as a basic safeguard to prevent conflicts of interest and protect the integrity of the process. Failing to implement such a measure undermines confidence in the outcome from the outset.

This approach sidelines Parliament at a time when transparent oversight is most needed. Allegations involving the leadership of a national anti-corruption agency demand scrutiny beyond internal executive channels.

A parliamentary special select committee – empowered to call witnesses and report directly to the public – would provide a far more credible avenue for investigation and accountability.

In the light of the seriousness of these allegations, C4 Center calls on all component parties within the ‘Madani’ (trustworthy) government to publicly state their official positions on the independence of this investigation and the continued tenure of the MACC chief commissioner during this process.

Silence from coalition partners risks being interpreted as tacit acceptance of an executive-led approach that falls short of genuine accountability.

MPs – particularly those from governing parties – must make clear whether they support meaningful parliamentary oversight or are prepared to allow the executive to determine the outcome of investigations involving its own appointees.

Government inaction on second report

It is also extremely concerning that no government action has been taken to investigate allegations published by a separate Bloomberg article on 12 February titled “Who’s Watching Malaysia’s Anti-Corruption Watchdog?”

While the newly announced investigative committee appears narrowly focused on Azam’s shareholdings, the second Bloomberg report raises far more serious allegations involving potential abuse of enforcement powers, collusion with a network of business people, and systemic weaknesses within the MACC itself.

Even more troubling are allegations that these activities were not confined to lower-level officers. The second Bloomberg report cites internal communications suggesting close relationships between senior MACC leadership and individuals within this network, including claims that Azam Baki may have intervened in investigations involving certain business figures.

If true, these allegations point not merely to misconduct by individuals, but to a potential abuse of one of Malaysia’s most powerful enforcement agencies.

The government’s current response fails to address the broader and more serious allegations raised in the second Bloomberg report. An investigation limited to technical questions of asset declarations completely overlooks the claims of intimidation, collusion and misuse of investigative powers, which strike at the core of institutional integrity and public trust.

C4 Center therefore strongly calls for:

• Azam to be placed on immediate administrative leave pending the outcome of an independent investigation, as a necessary safeguard against conflicts of interest
• The investigation to be transferred to Parliament through a bipartisan special select committee with full investigative authority, ensuring independence from executive influence and enabling transparent public scrutiny
• The scope of any investigation to extend beyond shareholdings to include the serious allegations raised in the second Bloomberg report, including potential abuse of enforcement powers, collusion with private actors, and institutional governance failures within the MACC
• The immediate publication of the terms of reference, scope and timelines of the inquiry, including clear commitments to transparency and accountability
• Full public disclosure of findings
• All component parties within the Madani government and MPs to publicly state their positions on the independence of the investigation and the role of parliamentary oversight in matters involving senior enforcement leadership

– C4 Center

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