THE US-based investment company BlackRock is being targeted for boycotts by pro-Palestine activists due to several factors and not due to the nationality or ethnicity of the owners, clarified Boycott, Divestment, Sanction (BDS) Malaysia.
The Malaysian chapter of the global movement said this after Tengku Datuk Seri Zafrul Tengku Abdul Aziz had defended the government’s decision to allow BlackRock, a firm with alleged links to Israel, to own shares in Malaysia Airports Holdings Bhd (MAHB).
The Investment, Trade and Industry Minister had said on Sunday (June 2) that BlackRock is a listed company that Israelis do not own, further highlighting that BlackRock is one of Apple’s largest shareholders.
He also said: “All of you who own Apple (products), if you really feel strongly, you shouldn’t be using them. Who is the biggest shareholder of WhatsApp? Who is the biggest shareholder of Facebook?”
In a statement on Monday (June 3), BDS Malaysia explained that the movement is targeting BlackRock due to several factors.
“BDS Malaysia would like to clarify that our opposition of BlackRock’s investment in MAHB is not related to the issue of the nationality or ethnicity of the owners but instead due to three crucial factors,” it said.
“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.”
BDS Malaysia further noted that BlackRock also has substantial investments in Israel, and owns British-Israeli Kreos Capital, which provides funds to Israeli startups in the high-tech sector.
“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,” the movement said.
“The students were protesting against Columbia University’s investments in companies that are involved in the genocide in Gaza.”
BDS Malaysia also explained that the BDS movement adopts a strategy of “targeted boycott” where only a selected number of companies will be targeted for boycott efforts based on several criteria, including the level of complicity, availability of choice for consumers, and probability of success.
“Based on the above considerations, the global BDS movement is not calling for the boycott of Apple products, WhatsApp or Facebook,” it stressed.
“BDS Malaysia calls on Minister Tengku Zafrul to reconsider the decision to allow BlackRock to own shares in MAHB which is a strategic asset to the country due to its contract to manage 39 airports in the country.
“A company that abets genocide in Gaza must not be allowed to own a significant share of our strategic assets.” – June 4, 2024
Main pic credit: Bernama
