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BLOOMBERG has stood by its reporting that Malaysia’s Chief Commissioner of the Anti-Corruption Commission, Tan Sri Azam Baki, holds 17.7 million shares in Velocity Capital Partner Bhd, a claim based on filings with the Companies Commission of Malaysia.
The news agency declined to retract its story when contacted. A spokesperson for Bloomberg News said in a brief reply, "We stand by our reporting."
Azam’s law firm, Zain Megat & Murad, responded yesterday, describing the article as "defamatory, irresponsible and highly misleading," adding that it had caused significant repercussions not only for Azam personally but also for the reputation and integrity of the office he holds.
The firm confirmed that it had been instructed to commence legal proceedings and seek all available remedies under the law, including damages and other appropriate relief.
Legal demand letters have reportedly been sent to Bloomberg’s offices in both the United States and Malaysia.
According to a letter of demand (LOD) dated 12 February 2026 seen by the New Straits Times, the article in question, titled "Malaysian Anti-Graft Chief Returns to Stocks After Outcry," was published on 10 February and authored by two journalists.
The LOD stated that the article alleged Azam, in his capacity as Chief Commissioner of the Malaysian Anti-Corruption Commission, held 17.7 million shares in Velocity Capital Partner Bhd based on filings with the Companies Commission of Malaysia.
It described the story as presenting the first public disclosure of his substantial holdings since earlier controversies.
The letter contended that the publication implied Azam had failed to declare his assets publicly and suggested possible wrongdoing regarding his shareholdings.
It further asserted that Azam had fully complied with all asset declaration requirements applicable to public servants, including declarations submitted via the Human Resource Management Information System (HRMIS) to the Public Service Department.
The shares in question had been disposed of prior to the publication of the article.
The LOD argued that the report recycled old allegations that had already been investigated and resolved, creating a misleading impression of impropriety.
The overall tone of the article was said to insinuate that Azam had acted unlawfully, dishonestly, or possessed unexplained wealth.
Among other demands, the letter called on Bloomberg to issue an unequivocal written apology within 14 days, retract and delete the article from its website, Bloomberg Terminal, and all third-party platforms, and publish a formal apology in accordance with terms agreed upon with Azam’s lawyers. - February 13, 2026