KUALA LUMPUR – Those who are against Israel-linked firm BlackRock’s perceived role in the privatisation of Malaysia Airports Holdings Bhd (MAHB) should not be so quick to “slander” the government over the proposed deal, said Communications Minister Fahmi Fadzil.
Fahmi, who is also the government spokesman, has said certain figures who have been vocal in their opposition to the potential deal are purportedly linked with BlackRock in some way.
“When checks are conducted on those who are suddenly very ‘anti-BlackRock’, we found that some of them are, for example, ambassadors in a carbonated drinks company where BlackRock also holds shares,” he told reporters after nominations for the Sg Bakap by-election in Penang.
“We also have to remember that a former prime minister once invited BlackRock to invest in Malaysia, (but) now he’s questioning why we should be linked with BlackRock.
“BlackRock has no connection with MAHB. This is a wrong perception generated by certain quarters to disrupt plans and spread slander… those riding on this issue are doing so for their narrow political goals (and) don’t want to see improvements to Malaysian airports.”
While Fahmi did not mention the names of the individuals he was referring to, social media has been rife with allegations regarding former health minister Khairy Jamaluddin’s ambassadorship with a company said to be affiliated with BlackRock.
Khairy, a former Umno man, is understood to be an ambassador for carbonated soft drink Vida produced by DyDo Drinco Malaysia Sdn Bhd, a subsidiary of Japan’s DyDo Group Holdings, which is said to have had BlackRock as one of its shareholders.
The Japanese company had later divested the subsidiary to Singapore-based Lingua Franca Holdings in 2020, citing a sales slump in Malaysia due to the Covid-19 pandemic.
Khairy has repeatedly voiced his protest against BlackRock’s potential involvement in MAHB’s privatisation, claiming that the move would be akin to the Malaysian government abetting genocide in Palestine.
Another critic of the deal, former two-time prime minister Tun Dr Mahathir Mohamad, had also held a London meeting with BlackRock in 2018 during Pakatan Harapan’s first stint in government, as reported by the media recently based on his social media posts.
Speaking to the press today, Dr Mahathir said the meeting then was done under different circumstances as there was no large-scale genocide of the Palestinian people at that time.
He added that the meeting six years ago was merely to gauge whether the organisation had anything to contribute to Malaysia, and that no agreement was reached at that time.
In recent times, following the 2023 Israeli-Palestinian escalation, BlackRock, which also holds shares in weapons companies supplying arms to Israel, made headlines in Malaysia due to its ownership stake in Global Infrastructure Partners (GIP).
On May 15, it was announced that sovereign wealth fund Khazanah Nasional Bhd, via its wholly owned subsidiary UEM Group Bhd and the Employees Provident Fund, would lead a consortium called Gateway Development Alliance, which included GIP as one of its shareholders, in MAHB’s privatisation.
The consortium had announced a pre-conditional voluntary offer to acquire all the shares in MAHB not already owned at an offer price of RM11 per share. Upon completion, GIP and another consortium shareholder, the Abu Dhabi Investment Authority, would own 30% of MAHB.
Yesterday, GIP’s head of transport, Philip Iley, said BlackRock would not be involved in transactions relating to MAHB’s privatisation.
He added that although it was announced in January 2024 that GIP was being acquired by BlackRock, GIP’s existing leadership team would retain full control and responsibility for the strategic direction and operation of the company. – June 22, 2024