KUALA LUMPUR – Tan Sri Azam Baki, Chief Commissioner of the Malaysian Anti-Corruption Commission (MACC), is set to send a legal demand letter to news agency Bloomberg regarding its report on share ownership.
Azam confirmed that his lawyer would deliver the letter tomorrow, either via the agency’s office in Malaysia or in the United States.
“My lawyer will send the legal letter tomorrow. I am taking this matter very seriously. Let’s face it in court,” he told reporters during a special press conference at the MACC headquarters today, as reported by Sinar Harian.
The statement follows reports earlier in the media, including Bloomberg’s, which claimed that Azam held 17.7 million shares in Velocity Capital Partner Bhd, a financial services company listed on Bursa Malaysia.
The report, based on an annual filing by Velocity Capital to the Companies Commission of Malaysia (SSM) on 3 February last year, valued the shares at approximately RM800,000.
However, Azam denied the allegations, stating that the shares were neither hidden nor undeclared, and had been fully disclosed.
He further clarified that the shares were purchased in the previous year and sold within the same year.
Additionally, Azam pointed out that MACC had already responded to Bloomberg’s inquiry on January 14.
As a contract officer whose term was renewed in May 2025, Azam said he remained diligent in fulfilling reporting requirements to avoid breaching administrative circulars.
He also said that trading shares is not illegal for government officers, provided there is no conflict of interest and a proper declaration is made.
Regulations also stipulate that officers cannot own more than five per cent of a company’s paid-up capital, which he said did not apply in his case as the shares were purchased on the open market.
Azam dismissed allegations that he still held shares in other companies, including claims involving Awanbiru Technology, reiterating that he currently holds zero shares.
He said all transactions were funded through his personal savings, pension and retirement gratuity, and not through loans or external sources. – February 11, 2026