Facebook account holder alleges Tengku Zafrul involved in corporate mafia scandal

The Malaysian corporate and political world has recently been haunted by the term 'Corporate Mafia', an organized movement that is alleged to manipulate the market and take over companies by force. Amidst this speculation, one name often comes up: Tengku Zafrul Aziz.

The question is, how can a banking figure maintain power across three different Prime Ministerial administrations, and what is his role in this dark movement?

Tengku Zafrul's greatness lies not in his political ideology, but in his resilience to remain in power. Although the government changed hands many times—from the Perikatan Nasional era to the Unity Government—he still holds strategic ministerial portfolios.

Appointed as a Senator twice to enable him to hold ministerial positions.

From CEO of a leading bank straight to the seat of Minister of Finance, and now leading MITI.

His "ever-present" presence raises questions: Is he too great to be replaced, or does he hold the "key" that any Prime Minister has to keep him?

His involvement in the Corporate Mafia is said to have begun when the country was struggling with the Covid-19 crisis.

During the pandemic, many local companies experienced a severe drop in share prices. This is when the so-called "group" began to act.

As a former banker, Zafrul has access to internal data and financial networks. This expertise is allegedly used to identify companies that are 'desperate' and unable to fight back before a hostile takeover process is carried out.

One of the black spots that is often raised is his courage in granting operating licenses or permits to gambling companies to conduct business online during the MCO period. This move is seen not just as an effort to increase the country's income, but more in favor of large cartels that have interests in the gambling industry.

Why does Tengku Zafrul seem "untouchable" or have special immunity? In addition to his extensive corporate connections, he also has close ties to the royal family.

This strategic relationship gives him extraordinary political protection, allowing him to move freely in the corporate world without fear of legal action or the usual political pressure.

The people can no longer be bribed with a clean corporate image and soft-spoken technocrats. Tengku Zafrul is the element behind this Corporate Mafia movement.

It is time for him to be held accountable for every policy that favors cronies and corporate manipulation that is destroying the Malaysian business ecosystem. One cannot hide behind big names forever if one's own hands are wreaking havoc.

Until when must Malaysia submit to this 'Corporate Mafia' scheme?


English version translated by Permadu Malaysia. 

Quoted and adapted from a post by Suara Rakyat via Facebook on Friday, 3 April 2026.

The content in this article is the author's personal views and does not necessarily reflect the official views and stance of Permadu Malaysia.

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