Another damning Finance Twitter report on MACC’s Azam

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https://www.facebook.com/watch/?v=2377070119464427 (PM stays mum on Azam Baki contract renewal)

Another damning Finance Twitter report on MACC’s Azam

KUALA LUMPUR, March 16, 2026: International political website Finance Twitter has, yet again, posted another damning news feature implicating Prime Minister Anwar Ibrahim and his administration.

The news was re-posted by The Coverage on Saturday (March 14, 2026) featuring Malaysian Anti-Corruption Commission (MACC) chief Azam Baki’s RM14 million shares and MACC’s alleged corporate mafia.

No News Is Bad News reproduces below the Finance Twitter report as re-posted by The Coverage:

News

Azam Baki’s RM14 Million Shares Bombshell: Farhash, Corporate Mafia, and Anwar’s Mounting Crisis

14 March, 2026

 

According to Finance Twitter , From naughty rumours of protecting his own daughter Nurul Izzah’s husband corruption to serious suspicion of safeguarding his cronies’ involvement in corporate mafia, Malaysian Prime Minister Anwar Ibrahim is increasingly entangled in scandals as he fiercely – but foolishly – trying to defend MACC’s (Malaysian Anti-Corruption Commission) Chief Azam Baki.

Under public, political and even royal pressure, the indecisive yet arrogant Premier is set to drop the highly controversial anti-graft chief when his tenure expires on May 12. This comes as accusations of abuses against the anti-corruption agency and its leader – that date back to when he was first named MACC chairman in 2020, two years before Mr Anwar came to power – have grown in volume since February.

Apparently, according to government and legal sources, the despicable Azam Baki will not receive a fourth extension from the Anwar government. The 10th Prime Minister of Malaysia can no longer defend his indefensible errand boy after anger public backlash and threats from his biggest ally with 40 MPs – Democratic Action Party (DAP) – to either dump Azam Baki or risk DAP dumping Anwar’s Madani government.

While Mr Azam’s involvement in dubious transactions had been known for years – as far back as 2015 when he claimed that he had met with an Arab prince who had allegedly donated US$681 million (RM2.6 billion) into former Prime Minister Najib Razak’s personal bank account in the infamous 1MDB scandal – the dirtiest “skeletons in his closet” was kept under wraps until February 12, 2026.

All hell broke loose last month when US-based news agency Bloomberg exposed an explosive scandal under Anwar administration, detailing how the MACC under Azam Baki was assisting rogue businessmen – known as the “corporate mafia” – in forcefully taking over public listed companies by abusing the anti-graft agency’s extensive powers to arrest, intimidate and threaten charges against company founders and executives.

The Bloomberg investigations unveiled a shocking and stunning modus operandi used by a division within MACC known as “Section D”, employing dirty tactics ranging from intimidation like office raids to blackmail and threats to life. Azam’s trusted lieutenant, Wong Yun Fui, MACC’s deputy director of investigations, was leading the unit, which handles complaints and arrests related to corruption in listed companies.

The dark process begins with a MACC investigation into a company whose executives face charges of financial offences or ongoing lawsuits. A “corruption” investigation by MACC would provide an opportunity for the “corporate mafia” to seize control of these companies. Through MACC interrogation, shareholders or owners would be under pressure to surrender their stakes in the company.

In a dangerous corporate world where the MACC is protected by the Prime Minister, Wong Yun Fui is Azam Baki’s deputy sheriff who was working hand-in-glove with corporate mafia to enrich themselves. An investigation into a small accounting issue could lead to a founder of a company intimidated with guns and death threats bycorporate mafia protected by MACC.

Crucially, Prime Minister Anwar’s former aide-turned-crony, Farhash Wafa Salvador Rizal Mubarak,who had been caught in corruption and dubious business deals, could be the hidden hand playing the role as the Godfather of the corporate mafia network. Working hand-in-glove with MACC, Farhash would provide the Premier with “unlimited donations” for the next 16th General Election.

Since Anwar came to power in November 2022, Farhash has been appointed as chairman of various companies, including retail chain outlet 7-Eleven which forms part of billionaire tycoon Vincent Tan’s empire, a stockbroking firm, and a fintech company. The 43-year-old Farhash had also stunningly emerged as a substantial shareholder in HeiTech Padu Bhd with a 15.91% stake.

Mr Farhash’s rise in big business and sudden display of wealth is a classic example of how ruling politicians enrich themselves through cronies. This is when the prime minister needs someone like MACC Chief Azam Baki to close both eyes on his cronies’ activities in the world of corporate deals – precisely how former finance minister Daim Zainuddin became extremely wealthy.

The MACC’s extortion scandal has sparked an uproar and protests calling for Mr Azam to be suspended pending investigations. These calls have even come from within the Prime Minister’s own Pakatan Harapan coalition. Former economy minister Rafizi Ramli, who was until May 2025 the deputy president of Mr Anwar’s Parti Keadilan Rakyat, attended the “Arrest Azam Baki” rally in Kuala Lumpur on Feb 15, along with several other lawmakers from the party.

As much as DAP secretary-general Anthony Loke, who is also Transport Minister, tried to keep silent and pretended as if everything was rosy, party grassroots upset with his continuous cowardice and subservience eventually forced DAP top leadership to call for an independent public inquiry into the so-called “corporate mafia” allegations against the MACC.

Playing “tai-chi” to drag the scandal, but at the same time tried to create a narrative that DAP has not turned into a toothless tiger after joining the government, Loke’s party has brought forward its national congress from September to July so that delegates can decide on DAP’s future in the Anwar administration based on whether the pace of reforms has accelerated in the first half of 2026.

Besides the damaging corporate mafia scandal, Azam Baki also courted another scandal – breaching shareholding rules for civil servants on several occasions, including as recently as January, despite having already courted controversy for the same offence in 2021. He owned over 4.52 million shares in Awanbiru Technology Berhad as of Jan 13, 2026 on top of the 17.7 million shares of Velocity Capital Partner.

While Azam Baki is allowed to buy shares in the stock market, a 2024 government circular, which provides guidance on a 1993 regulation stipulating the conduct of public officials, says a public servant may purchase shares in a company incorporated in Malaysia on the condition they don’t exceed 5% of its paid-up capital or RM100,000 in value, whichever is lower.

Amusingly, the MACC said on Feb 10 that its boss Mr Azam has “fully complied with the applicable asset declaration requirements” in respect to sources of income and acquisition and disposal of assets, including shares. The MACC chief argued on Feb 10 that the transaction had been properly declared and that he had nothing to hide, adding the shares were bought in 2025 and sold within the year.

There are at least three irregularities in the share ownership scandal. Firstly, he had clearly violated government regulations regarding the limit of share ownership by a high-ranking civil servant. Secondly, his suspicious source of wealth in purchasing the shares worth millions of ringgit. Thirdly, Azam, who is considered to be a public official under the law governing the MACC, hasn’t publicly declared his assets. 

Generally, the public believed it was a political drama when Anwar, who had ferociously defended Azam and shamelessly praised his bravery, suddenly agreed to appoint a task force made up of the Attorney-General, the secretary-general of the Treasury and the head of the public service department to investigate the complaint about the MACC chief violating shareholding rules.

The forked-tongue Mr Prime Minister previously renewed the appointment of Mr Azam, who reached the retirement age of 60 in 2023, for not one, not two, but three consecutive times or three years running despite calls from corruption watchdogs to refer the appointment to Parliament. Anwar conveniently forgot how he – as the opposition leader – had personally called for Azam’s suspension due to his earlier shareholding controversy.

Pussyfooting around, the despicable Premier insisted the public must allow the government’s task force to complete its probe into Azam’s shareholdings. But when he tried to divert attention by describing the allegations of abuse against the MACC as a conspiracy involving Zionists to challenge Malaysia’s credibility and a threat to national security, the public knew instantly PM Anwar wanted to sweep the scandal under the carpet.

Mocking at the untrustworthy MACC investigating itself and laughing at the corrupt police investigating a cooked-up conspiracy to topple the government, the frustrated public’s trust in the PM plunges the more Anwar expresses his full trust in Azam. It becomes so bad that Anwar appears to be the only man left in the government trusting and defending Azam.

To twist, spin, and delay the full findings of the investigation on Azam, Communications Minister cum Propaganda Minister Fahmi Fadzil “tai chi” the next course of action to the Chief Secretary to the Government. At the same time, Fahmi said the Cabinet has ordered other enforcement agencies, such as the police, Securities Commission, the MACC and the Inland Revenue Board to continue (delaying) detailed probes.

“The Cabinet received and discussed the findings of the report on the Attorney General’s investigation. I will not state the findings of the report since the next step will be taken by the Chief Secretary to the Government,” – disgraced Fahmi passed the ball as part of delaying tactics. But there’s one huge problem with the cheap trick – Rafizi Ramli.

Criticizing the Anwar government for refusing to publicly disclose the full findings, Rafizi has pointed to the fact that Azam had breached certain regulations, therefore, prompting the matter to be referred to the Public Service Department’s disciplinary board for further action, and the government does not intend to establish a Royal Commission of Inquiry (RCI) into allegations involving corporate mafia networks and possible collusion with the MACC.

More damagingly, Rafizi also cited circulating claims from government sources alleging that the investigation found Azam held shares worth RM14 million across nine companies, and that the purchases were made without the required approval or proper declaration. Now, the idiotic prime minister has to explain exactly how his beloved boy had accumulated wealth to the tune of RM14 million.

Indeed, if the value of the shares is RM14 million, the matter cannot be treated merely as a breach of civil service regulations because obviously corruption and kickbacks were involved. Having defended Azam Baki for 3 years, Anwar Ibrahim was speechless – and looked like a fool – when grilled by reporters about the MACC Chief Commissioner’s contract renewal.

However, even if he dumps Azam now, not that he has any other option, the damage is done. Had foreign news media like Bloomberg not exposed MACC’s dirty laundry, would Anwar shamelessly, stubbornly, and arrogantly extend Azam Baki’s contract for the fourth time? Shooting his own foot, the power-crazy man who is dreaming of a second term is now trapped.

The MACC, notorious for freezing bank accounts of individuals being investigated over suspicious wealth and weaponizing the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA), must now do exactly the same to Azam Baki. Failure to do so would trigger accusation of double standard – even Anwar’s collusion and complicity in protecting crooked Azam Baki.

Make no mistake – the voters are no longer interested in whether Azam’s tenure will be extended, but whether all the allegations will be investigated without fear or favour. Anwar should forget about appointing him as special political adviser or promoting him as chairman of some GLC (government-linked-companies). And stop insulting people’s intelligence by asking Azam Baki to investigate himself.

It’s too little too late to dump Azam Baki now. The Madanistan had the opportunities – three times over three years – to do the right thing. But Anwar Ibrahim, as well as Anthnoy Loke, was drunk with power. The best part is even after the prime minister refused to form a royal commission of inquiry (RCI) to investigate Azam as demanded earlier by DAP, spineless Loke bends over and said DAP will continue to follow up.

Source : Finance Twitter