KUALA LUMPUR – The concern over BlackRock’s involvement in Global Infrastructure Partners (GIP) reportedly buying a stake in Malaysia Airports Holdings Bhd (MAHB) is not the same as the investment company’s stake in Apple, said Umno Supreme Council member Datuk Mohd Puad Zarkashi.
Unlike BlackRock’s stake in Apple, Putrajaya has the power to prevent GIP from buying MAHB shares, he said.
“The power is in the hands of the Malaysian government to prevent GIP, which is owned by BlackRock, who is pro-Israel, from buying MAHB shares. However, the government has no power to prevent BlackRock from controlling Apple shares.
“But why do we want to allow things that we have the power to prevent anyway?
“In the case of Apple, the power is in the hands of the people, not the government. It is up to the people to boycott, just as they boycott McDonald’s, KFC, KK Mart and Starbucks,” he said in a post on Facebook today.
Boycott, Divestment, Sanctions (BDS) Malaysia recently said that the US-based investment company BlackRock was being targeted for boycotts by pro-Palestine activists due to several specific factors, rather than the nationality or ethnicity of its owners.
The Malaysian chapter of the global movement issued this statement following Datuk Seri Tengku Zafrul Tengku Abdul Aziz’s defence of the government’s decision to permit BlackRock, a firm claimed to be connected to Israel, to hold shares in MAHB.
Tengku Zafrul, who is also investment, trade and industry minister, has said on Sunday that BlackRock is a listed company not owned by Israelis.
He has also said that BlackRock is one of Apple’s largest shareholders.
“All of you who own Apple (products), if you really feel strongly, shouldn’t be using them. Who is the biggest shareholder in WhatsApp? Who is the biggest shareholder of Facebook?” Tengku Zafrul said.
BDS Malaysia said its opposition to BlackRock’s investment in MAHB was not related to the issue of the nationality or ethnicity of the owners but instead due to three crucial factors.
“The company is complicit with the genocide in Gaza due to its significant ownership in companies that supply weapons to Israel, which is currently committing the crime of genocide in Gaza.
“They include Lockheed Martin, RTX, Northrop Grumman, Boeing and General Dynamics. These companies are, therefore, categorised as genocide enablers.”
BlackRock also has substantial investments in Israel and owns British-Israeli Kreos Capital, which provides funds to Israeli start-ups in the high-tech sector, BDS said.
“Larry Fink, the CEO of BlackRock, is a vocal supporter of Israel. He is also proud to announce his involvement in suppressing the student protestors at Columbia University,” it said.
BDS Malaysia further explained that the BDS movement employed a “targeted boycott” strategy that focused on boycotting a specific group of companies chosen based on various criteria, such as their degree of involvement, consumer options and the likelihood of achieving success.
Khazanah Nasional and the Employees Provident Fund recently said that they planned to take over MAHB through a consortium and privatise the airport operator.
Khazanah will increase its ownership in MAHB from 33.2% to 40% and in EPF from 7.9% to 30%, giving Malaysian investors a 70% stake in MAHB. The Abu Dhabi Investment Authority and GIP will hold the remaining 30%.
MAHB currently manages 39 airports throughout Malaysia, including five international airports, 17 domestic airports and 17 short take-off and landing airports, called STOLports for short. It also owns and manages one international airport in Istanbul, Turkiye. – June 4, 2024