Malaysia Cabinet Orders Probe into MACC Chief's Shares

Malaysia's Cabinet has ordered a special committee to investigate allegations against the head of the country's anti-corruption agency, Azam Baki, following reports that he held shares in a financial services company exceeding the limits allowed for public officials.

The decision was announced on Friday by Communications Minister Fahmi Fadzil during a press conference in Putrajaya. The probe, led by Chief Secretary to the Government Shamsul Azri Abu Bakar, will examine the claims and report findings back to the Cabinet for further action, Fahmi said. He noted that the Cabinet did not discuss suspending Azam during the investigation.

The allegations stem from a corporate filing last year indicating that Azam, chief commissioner of the Malaysian Anti-Corruption Commission, owned 17.7 million shares in Velocity Capital Partners, valued at approximately 800,000 ringgit at the time. Malaysian regulations, outlined in a 2024 government circular interpreting 1993 rules on public officials' conduct, limit such holdings to 5 percent of a company's paid-up capital or 100,000 ringgit, whichever is lower. Public servants must declare assets every five years and upon purchase or sale.