AN MCA Youth leader has called for the authorities to escalate investigations into Malaysian Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki who was reportedly been listed as holding 17.7 million shares in a financial service company, valued at nearly RM800,000 as of Monday.
Its secretary-general Saw Yee Fung said the revelation, first reported by Bloomberg, raises serious questions about Azam’s integrity and public credibility, and authorities must probe this issue and remove him from office if the claims are substantiated.
“(The amount) far exceeds the RM100,000 limit on shareholdings in a single company permitted for civil servants. The revelation raises serious questions about Azam’s integrity and public credibility.
“As the nation’s principal anti-corruption body, MACC must be led by a chief who maintains independence at all times, particularly in matters involving finances and potential conflicts of interest.
“Under the current system, the chief commissioner is directly appointed by the prime minister, a process that lacks sufficient checks and balances.
“The government should fulfil Pakatan Harapan’s election pledge to have the MACC Chief Commissioner appointed by Parliament and to require the MACC to report directly to Parliament in order to strengthen transparency and accountability.”
Saw said public institutions that wield state power, especially one as critical as MACC, must demonstrate clear independence and impartiality.
She noted that financial integrity is paramount, and any perceived conflict of interest is unacceptable.
“Pakatan Harapan must honour its reform commitments by ensuring that the anti-graft head is appointed through a parliamentary process rather than solely by the prime minister,” she continued.
“The repeated contract extensions granted to Azam also warrant scrutiny. His appointment to effect on March 9, 2020 and his tenure has been extended three times despite ongoing controversies.
“These latest shareholding revelations further erode his credibility and, by extension, weaken public confidence in MACC as an institution tasked with combating corruption.”
This is not the first time such concerns have arisen. Recall that in late 2021, Azam came under scrutiny over his ownership of 1.93 million shares in Gets Global Berhad worth around RM772,000.
“The latest disclosures of similar nature have once again raised questions about his integrity. According to reports, Azam holds approximately 17.7 million shares in Velocity Capital Partner Bhd,” Saw stated.
“A 2024 government circular on the conduct of public officials states that civil servants may hold shares in Malaysian-incorporated companies only if the holdings do not exceed 5% of paid-up capital or RM100,000 in value, whichever is lower.
“With shareholdings reportedly valued at nearly RM800,000, this appears to exceed the permitted limit for a civil servant in a single company. How the government responds will test its commitment to reform and institutional integrity.
“It is necessary to determine whether Azam has breached civil service rules on share ownership and asset declaration, and a thorough investigation must be carried out to uphold principles of accountability and fairness.”
Saw further pointed out that this issue goes beyond the personal conduct of one individual and concerns institutional credibility and the fulfilment of reform promises.
“If the allegations are proven, the MACC chief commissioner may have breached civil service regulations and should face appropriate disciplinary action or further investigation in accordance with the law,” she remarked.
In a statement on Tuesday (Feb 10), MACC rejected claims made by the Bloomberg report, describing the report as misleading and unfounded while stressing that it unfairly tarnishes the reputation of Azam and undermines public confidence in the Commission.
The agency clarified that asset declarations by public officers are governed by established administrative procedures under the public service framework. These declarations are submitted through official channels to the relevant authorities, not made public.
MACC confirmed that Azam has complied fully with all requirements, including submitting declarations via the Human Resource Management Information System (HRMIS) to the Public Service Department (JPA).
These cover sources of income as well as the acquisition and disposal of assets, including shares.
“Any suggestion that assets were not declared is factually incorrect and misrepresents the governance framework of MACC and the public service,” the statement read. ‒ Feb 11, 2026
Main image: Malay Mail/Yusof Mat Isa
