This article first appeared in The Edge Malaysia Weekly on October 26, 2026 - November 1, 2026
In February this year, a task force to probe allegations against graft buster Malaysian Anti-Corruption Commission’s (MACC) former chief commissioner Tan Sri Azam Baki was set up, chaired by Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.
The allegations involved Azam’s 17.7 million shares in Velocity Capital Partner Bhd (KL:VELOCITY) — valued at roughly RM800,000. There were also allegations of MACC officials working with a group of rogue businessmen, known as the “corporate mafia”, who pressured shareholders to relinquish control of their listed companies.
This setting up of a task force came about after news agency Bloomberg filed two news reports on the issues.
Then, in early April this year, government spokesman Datuk Seri Fahmi Fadzil said that investigations into Azam’s shareholdings and allegations of a so-called “corporate mafia” within the MACC will be made public “when the time comes”.
Now, after almost seven months without any news on the investigations, Prime Minister Datuk Seri Anwar Ibrahim said last Tuesday that the government will establish a special committee chaired by the attorney general to investigate corporate crime. The committee, which will comprise the Royal Malaysia Police, Securities Commission Malaysia, Bank Negara Malaysia and other relevant agencies, will be given three months to complete its investigation and submit a comprehensive report, he told the Dewan Rakyat during the prime minister’s question time.
Anwar’s statement was in response to Datuk Seri Aminuddin Harun, the Pakatan Harapan member of parliament for Port Dickson, who asked for an update on allegations of a “corporate mafia” network.
But why is there a need for the special committee and were the previous investigations unsuccessful in unearthing anything? What happened to the task force?
If a news agency can allege shenanigans in corporate Malaysia after its research, shouldn’t the country’s investigation agencies be able to do better?
This long silence is not becoming behaviour, especially when it is as simple as either officially clearing the accused or taking action against them for any wrongdoings.
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