12 FEBRUARY 2026
PRESS STATEMENT
On 12 February 2026, following up on their recent exposé of Azam Baki’s shareholding, Bloomberg released another report detailing alleged collusion between the Malaysian Anti-Corruption Commission (MACC) and a group of businesspersons. The report alleged that top officials in the MACC had taken part in schemes orchestrated by a network of businesspersons that targeted companies for takeover. The Center to Combat Corruption and Cronyism (C4 Center) is outraged by these revelations, which indicate deep-rooted corruption within Malaysia’s primary anti-corruption agency. We demand that the government makes immediate effort in investigating these findings, reforming the MACC, as well as the suspension, pending investigation, of all officers involved.
Schemes orchestrated by “corporate mafia”
According to Bloomberg, a loose network of businesspersons – termed the “corporate mafia” – would target locally-owned companies, ousting their founders and seizing control. The alleged scheme would first see “mafia” members purchase shares in a targeted company, before intimidating executives, and forcing them out. Bloomberg alleges that these intimidation tactics involve MACC officers, who investigate executives of targeted companies.
The report lists a series of purported intimidation “services” carried out by the MACC’s “Section D”, the unit in-charge of investigating listed companies, market-related corruption and insider trading. These alleged “services” range from raids on company offices to pressuring executives to sell their shares and even recommending charges to public prosecutors. It was alleged that each “service” would come with a price, with some even reaching millions of ringgit. The report further claims that the MACC’s involvement in this scheme would stretch from lower-level officers all the way up to the highest ranks of the Commission.
Azam Baki implicated again
MACC Chief Commissioner Azam Baki was not spared in this report either. The report cites an internal MACC memo which notes Azam Baki’s “close friendship” with members of the “corporate mafia”. This relationship went as far as having Azam Baki allegedly intervene in investigations involving members of the “mafia”. In one instance, Bloomberg claims that Azam Baki had made a call to a department in the Royal Malaysian Police, asking that they drop a case involving a “mafia” member.
If these allegations are true, Azam Baki would again be implicated in serious misconduct. Just recently, separate reports from Bloomberg and Malaysiakini allege previous shareholdings in two different companies which amounted to values of around RM800,000 and over RM1 million respectively. This comes years after revelations in 2021 from an investigative journalist alleging share purchases in two other companies worth over RM200,000 and RM800,000 in 2015 and 2016 respectively.
The 2024 Public Officers’ Conduct and Disciplinary Management Circular, Paragraph UP.7.2.6 sub-paragraph 17 is clear: an officer can only purchase shares not more than 5% of paid up capital or RM100,000 at present value, whichever is lower in any one company incorporated in Malaysia. There is no process or qualification that allows an officer to purchase shares above this amount, such as by making disclosures to relevant parties. This rule is unambiguous and without exemption.
As serious as these improper share purchases may seem, Bloomberg’s latest allegations present far graver implications.
An enforcement agency with few checks on power
The MACC is one of the most powerful enforcement agencies in the country. Established to investigate and prevent corruption, it wields extensive powers which include the authority to initiate investigations, examine witnesses, conduct raids and searches (at times without a warrant), seize assets, and arrest individuals suspected of offences. Its officers may arrest, detain and question suspects for prolonged periods and recommend prosecutions to the Attorney General’s Chambers (AGC). In practice, these powers give the MACC formidable reach into the affairs of public officials, corporations, and private individuals alike.
Such sweeping authority demands equally robust safeguards. However, longstanding concerns persist over the adequacy of oversight mechanisms governing the MACC. Although the MACC is purportedly “monitored” by five oversight bodies, C4 Center has highlighted in our latest report, “Who Holds the MACC Accountable? Improving Oversight of the Malaysian Anti-Corruption Commission”, that these bodies have little meaningful power to investigate and discipline any MACC officer, with their functions being purely advisory.
It is particularly troubling that allegations implicating MACC officers in direct abuse of far reaching enforcement powers have surfaced. An agency empowered to raid offices, freeze assets, and recommend criminal charges is immensely dangerous without effective checks. Such powers risk being weaponised, whether for political ends or private gain. In this light, calls for reform are not merely about safeguarding the Commission’s independence, but about ensuring that the MACC has an effective accountability framework – a framework that sufficiently curbs abuse of wide ranging enforcement powers.
MACC reform increasingly elusive
Allegations as damaging as these signals urgent need for MACC reform. Yet, the government has done little to inspire confidence that it is actively pursuing reform. In the National Anti-Corruption Strategy 2024-2028 (NACS), the government merely pledges to “relook requirements in the appointment and the dismissal of the MACC Chief Commissioner and the establishment of MACC Service Commission” – hardly a definitive commitment to change. It is therefore telling that mention of MACC reform was noticeably absent during Prime Minister Anwar Ibrahim’s announcement of “four priority reforms” for the New Year.
Instead, Anwar Ibrahim has chosen to publicly support the beleaguered Chief Commissioner. Responding to Azam Baki’s latest shareholding scandal, Anwar questioned why he would “sack someone who is doing their job?” and urged that the public “read his (Azam’s) explanation”. This statement indicates that Anwar is at best unclear of the seriousness of these allegations and at worst, actively supporting an individual tainted with multiple accusations of unresolved misconduct. This indicates that accountability as well as reform will continue to be elusive.
The United Nations Office on Drugs and Crime (UNODC) via the Colombo Commentary – which seeks to elaborate on key guiding principles for anti-corruption agencies worldwide – states that external accountability is vital in “restraining anti-corruption agencies to ensure their proper functioning”. The Commentary recognises that anti-corruption agencies, by virtue of their immense enforcement powers, are at risk of being abused for corrupt activities. These fears are directly reflected in Bloomberg’s report: the MACC and its Chief Commissioner are capable of abusing its investigatory powers for private gain.
Therefore, C4 Center strongly urges that:
- All Parliamentarians respond to these allegations immediately via a special motion to debate this matter in Parliament;
- The Public Accounts Committee and the Parliamentary Special Select Committee on Human Rights, Election and Institutional Reform conduct independent investigations on this matter immediately;
- All involved MACC officers are suspended effective immediately until independent investigations are concluded, with details of “Section D’s” operations being made transparent and publicly available; and
- The government to expedite reform of the MACC by removing the Prime Minister’s appointment powers over the MACC Chief Commissioner and the expansion of Ombudsman Malaysia’s jurisdiction to investigate misconduct complaints against the Commission.
END OF STATEMENT
Issued by:
Center to Combat Corruption & Cronyism (C4 Center)
For further enquiries, please contact:
c4center@gmail.com
019-216 6218
