PUTRAJAYA, July 1 — Polemics on the issue of investment firm BlackRock being linked to Israel could affect Malaysia’s interests as a developing country, said Prime Minister Datuk Seri Anwar Ibrahim.
Speaking at the monthly assembly of the Prime Minister’s Department here today, Anwar suggested moderation in discussing the issue, cautioning against “excessiveness”.
Anwar, who is also Finance Minister, explained the presence of the investment giant in Malaysia all this while has not hindered Malaysia’s stance in speaking against the Zionist regime’s atrocities against the people of Gaza.
“History shows that compared with other countries, we (Malaysia) are among the most vocal (in speaking against Israel); so don’t demand more than that. We are a developing country; look at our level of capability. Don’t let a strong desire to show off undermine the country’s interests. That is our general principle.
“The cruelties Israel has committed against Palestine is very clear; no one is disputing that. If there is a company like Microsoft or Google showing sympathy towards Israel, we will oppose them. (But) do you think we should close all paths of cooperation with them?” he said.
Data reviews reportedly showed that BlackRock has interests and shares worth RM24.7 billion in companies listed on Bursa Malaysia and RM7.9 billion in Malaysian government and corporate bonds.
Publicly available data revealed that as of May, the global firm held equity investments in 100 listed companies in Malaysia across industrial sectors, including three banking institutions in the country.
Anwar said that in 2018, then Prime Minister Tun Dr Mahathir Mohamad had in London emphasised the need for the firm to enter Malaysia, while in 2021, then Prime Minister Tan Sri Muhyiddin Yassin approved a proposal by the Employees Provident Fund (EPF) to entrust BlackRock with managing a special EPF fund amounting to RM600 million.
Regarding the collaboration between Khazanah Nasional Bhd (Khazanah) and EPF with Global Infrastructure Partners (GIP) concerning interests in Malaysia Airports Holdings Bhd (MAHB), Anwar said it has been ongoing since 2012.
“That is why Khazanah and EPF are negotiating with GIP; our airports have their strengths and advantages, but compared with other major airports, there are many weaknesses, especially in terms of engineering, technical expertise and management.
“There are areas that need improvement as we are somewhat behind in planning and other aspects. Khazanah and EPF’s decision was then communicated to me and I said to proceed,” he said.
Previously, Anwar said the sale of a stake in MAHB to GIP had undergone stringent conditions, and a merit of its selection was the company’s agreement to retain the appointment of Malaysians as chairman and chief executive officer of MAHB and the collective ownership of the majority shares by the state.
Anwar said besides GIP, some parties did not agree with the conditions set by Khazanah and EPF.
GIP is a leading infrastructure investor managing assets worth US$112 billion (RM528 billion) on behalf of its investors, including approximately 500 investment institutions worldwide.
In January, it was announced GIP was being acquired by BlackRock, with the transaction expected to go through in the third quarter of this year. BlackRock has not in any way been involved in the transaction related to MAHB.
— Bernama
