Nearly 1,000 rally in Kuala Lumpur over alleged shareholdings
Hundreds of Malaysians dressed in black took to the streets of Kuala Lumpur on Feb 15, demanding the arrest of Malaysian Anti-Corruption Commission chief Azam Baki following allegations over his shareholdings and claims of abuse of power.
Youth-Led Protest In Kuala Lumpur
An estimated 1,000 protesters gathered outside a shopping mall in central Kuala Lumpur, according to The New Straits Times. The demonstration, marked by black flags and placards, temporarily shut down a major road in the city center.
The rally was largely driven by young Malaysians, alongside student groups, civil society organizations, and politicians. It was described as the largest street protest since October’s demonstrations over Gaza.
Calls For Arrest Over Share Allegations
Opposition politician Amira Aisya Abd Aziz addressed the crowd, declaring that the nation’s legal dignity had been undermined. She said Malaysians would continue demanding action until Azam Baki is arrested.
The protest follows a Feb 3, 2025 filing by Velocity Capital Partner to the Companies Commission of Malaysia, which showed that Azam owned 17.7 million shares in the financial services firm. Bloomberg News reported that the shares were valued at nearly RM800,000 on Feb 10, approximately S$64,000.
Regulations On Public Officials’ Shareholdings
A 2024 Malaysian government circular outlines that public servants may purchase shares in Malaysian-incorporated companies provided the value does not exceed 5 percent of paid-up capital or RM100,000, whichever is lower.
Officials are also required to declare their assets at least once every five years and at the time of purchase or sale of holdings. The reported valuation of Azam’s shares raised questions about compliance with these rules.
Allegations Of Broader Misconduct
On Feb 12, Bloomberg published another report alleging that officials within the anti-corruption commission were assisting a group of businessmen in attempts to seize control of companies.
Both the Malaysian Anti-Corruption Commission and the businessmen involved denied any wrongdoing. The agency has maintained that its operations remain independent and lawful.
Azam Baki’s Response
Azam Baki said on Feb 15 that he would cooperate fully with a special committee formed by the government to investigate his shareholdings. According to The Star, he stated there was no reason for him to take leave while the probe is ongoing.
This marks the second public demonstration against Azam since 2022, reflecting continued public scrutiny of Malaysia’s anti-corruption leadership.
Political Implications
Members of the ruling Parti Keadilan Rakyat also participated in the protest. Former economy minister Rafizi Ramli said repeated public demonstrations were necessary to ensure accountability.
The protest underscores the heightened expectations among Malaysians, particularly youth groups, for transparency and ethical governance in public institutions.
The Kuala Lumpur rally highlights growing public pressure on Malaysia’s anti-corruption leadership amid allegations of improper shareholdings and abuse of power. As investigations proceed, the outcome could shape perceptions of institutional integrity and governance standards in the country. For Indonesians and Singaporeans observing regional political developments, the episode reflects how public trust in oversight bodies remains a crucial pillar of democratic stability.
Sources: Straits Times (2026) , Bloomberg (2026)
Keywords: Azam Baki Shares, Malaysian Anti Corruption Commission, Amira Aisya, Velocity Capital Partner, Rafizi Ramli
