Transparency International Malaysia also called for stronger parliamentary and institutional accountability structures, including the creation of an independent ombudsman with sufficient powers and resources to investigate misconduct across all civil servants.

“As Malaysia’s premier anti-corruption institution, MACC must not only be independent – it must also be seen to be independent.

“This is not about personalities. It is about protecting the integrity of Malaysia’s anti-corruption architecture,” TI-M said in a statement.

It also called for enhanced whistleblower protections and safe reporting channels in line with existing laws.

Bloomberg had reported that MACC chief commissioner Azam Baki held 17.7 million shares in Velocity Capital Bhd, or 1.7%, based on the company’s annual return lodged on Feb 3 last year.

Azam is alleged to have breached a 2024 government circular limiting civil servants’ shareholdings in Malaysian-incorporated companies to no more than 5% of paid-up capital or RM100,000 in value, whichever is lower.

The MACC chief said the transaction was declared and the shares disposed of last year. His lawyers have sent a letter of demand to Bloomberg over its report.

Bloomberg had also run a separate story claiming that MACC was in cahoots with other businessmen “to support the interests of private citizens by threatening, arresting and detaining executives, sometimes recommending charges against them”.

MACC subsequently dismissed suggestions that its probes were influenced by private interests, insisting that all investigations were conducted “strictly in accordance with the law, guided by evidence, and carried out independently without fear or favour”.

This afternoon, the government agreed to set up a special committee to probe the claims surrounding Azam and his shares.

Government spokesman Fahmi Fadzil said the committee would be chaired by chief secretary Shamsul Azri Abu Bakar.