MALAYSIAN Prime Minister Najib Razak has hit out at a newspaper report that said investigations into a troubled state fund have traced nearly £200 million of deposits into accounts that allegedly belonged to him, claiming it was a "continuation of political sabotage".

The Wall Street Journal's report, if true, would be the first time the beleaguered prime minister has been directly linked to accusations of corruption surrounding the fund.

"There have been concerted efforts by certain individuals to undermine confidence in our economy, tarnish the government, and remove a democratically elected prime minister," Mr Najib's office said.

"These latest claims, attributed to unnamed investigators as a basis to attack the prime minister, are a continuation of this political sabotage."

Early reaction from within Mr Najib's party, the United Malays National Organisation (UMNO), showed support for the 61-year-old leader.

"If they (the Wall Street Journal) were dead serious about the authenticity, the reports should have named the sources," Abdul Rahman Dahlan, the minister for Urban Well-being, Housing and Local Government, said.

But two opposition parties called on Mr Najib to take a leave of absence while the allegations are investigated, and another said he must declare his assets publicly in a sworn statement.

Mr Najib, the son of a former primer minister, has been weakened by attacks from the opposition and from within his own party by charges of graft and mismanagement. However, he retains support within the long-ruling Barisan Nasional (BN) coalition.

Former leader Mahathir Mohamad, who was once Mr Najib's patron and remains highly influential, has previously called for the prime minister to step down over the fund furore.