Economy Minister Mohamed Azmin Ali has instructed his lawyers to take legal action against a blog over a claim that he had RM300 million stashed abroad.

In a statement today, Azmin's press secretary Mohd Hassanal Bolqiah Mohd Yusoff said the lawyers had also been instructed to take action against those repeating those claims.

"The minister has instructed his legal team to seek the Communications and Multimedia Commission's (MCMC) help to identify the blog owner.

"Legal action is necessary in order to prevent the spreading of slanderous (comments against the minister) which is done in bad faith and to undermine the credibility of the minister," Mohd Hassanal Bolqiah said.

He added that the minister was "very disappointed" with media organisations that reported on the claims by the blog.

"These (media organisations too) were trapped by 'gutter politics'," he said.

A blog called "Toyol of Selangor" had alleged that Azmin, his wife Shamsidar Taharin and his proxies had bank accounts in various countries that were holding assets amounting to RM300 million.

When met on Sunday, Azmin refuted the claims and urged those who have evidence of wrongdoing to lodge a report with the authorities instead of tarnishing his reputation anonymously.

Shamsidar also told reporters on Sunday that she has no knowledge of such bank accounts.