Former minister Khairy Jamaluddin says the argument that BlackRock is ‘everywhere in Malaysia’ lacks substance and is not an apple-to-apple comparison.
Read More: https://www.freemalaysiatoday.com/category/nation/2024/06/26/blackrocks-presence-in-malaysia-overstated-says-kj/
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Read More: https://www.freemalaysiatoday.com/category/nation/2024/06/26/blackrocks-presence-in-malaysia-overstated-says-kj/
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
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NewsTranscript
00:00They want to say Blackrock is everywhere. I want to tell you that the holdings of Blackrock
00:06in these companies are mostly very small, 1-2% of the companies. And usually these shares
00:19are bought in the open market. It is not in the management agency, it is not in the management.
00:27Former Minister Khairi Jamaluddin has criticised the notion that Blackrock's investment across
00:32various Malaysian companies should justify allowing an affiliated company, Global Infrastructure
00:37Partners, to participate in Malaysia Airport's Holdings Berhards privatisation.
00:41The argument they use is not serious. They don't do an Apple-to-Apple comparison.
00:49Khairi said MAHB's case was different to SGIP and Blackrock, along with Abu Dhabi Investment
00:56acquired 30% of the airport operators' shares, giving them a say in management decisions.
01:02The former Rumbau MP said he was certain that GIP would appoint a representative to the
01:06board. Several quarters have been urging Putrajaya
01:09to scrap the deal due to GIP's ties with Blackrock, which has been accused of profiteering
01:14from genocide through its stakes in US defence firms that allegedly manufacture weapons used
01:19by Israel.