I FIND it extremely incredulous to believe how Global Infrastructure Partners (GIP) could still be calling the shots once American global investment company BlackRock takes over the former who is a partner in the privatisation of the Malaysia Airports Holding Bhd (MAHB).
Such was the reply given by Prime Minister Datuk Seri Anwar Ibrahim in the Parliament to questions posed as to how Malaysia can have direct or indirect links with BlackRock that has ties with the Israeli defence industry.
In other words, what the opposition is implying is how can the government allow GIP to buy into the shares of MAHB as a result of the privatisation initiative when it might be bought over by BlackRock, the nefarious world’s largest asset manager with US$10 tril in assets under management as of December 31, 2023.
The fact that BlackRock had its presence in the country in 2021 with investments in the region on RM2.57 bil is no excuse for Anwar to defend the entry of the company in acquiring shares of GIP which will eventually become as a shareholder of MAHB.
In fact, Anwar – for all his defence of the government having links with US-based companies – has not answered the valid question posed by twice former premier and his nemesis Tun Dr Mahathir Mohamad as to why a profit making GLC like MAHB needs to be privatised.
Mind you that this query is coming from a man who can be regarded as one the architects of privatisation in the country.
Genocide in Gaza forgotten?
Anwar for all his drama about his support for the Palestinian cause seems not very serious in maintaining a consistent stand on the matter.
Anwar meets up with Hamas and other Arab leaders from time to time to conjure the image of his unshakable faith in the cause of the Palestinians.
However, his recent defence of BlackRock in the purchase of shares through GIP in MAHB raises questions on whether he is serious about advancing the Palestinian cause.
I think it appears that Anwar’s support of the Palestinian cause is more to get domestic political traction more than anything else.
Whatever can be said about Dr Mahathir, he had and still has the courage to tell off the US and others for being an obstacle to the just settlement of the Palestinian cause.
To this date, knowing the geopolitical interests of the US and why the Palestinian cause is dragged with genocidal implications, Anwar has yet to propose a solution to the ultimate resolution of the Israeli-Palestinian conflict – a dispute that has dragged on from the time of the creation of Israel.
Anwar has the golden opportunity to show his commitment to the Palestinian cause if he has the courage or the political will to halt the current privatisation of the MAHB.
Call off the MAHB deal
Why privatise when MAHB is making profit? The profit last year was more than RM500 mil. Why privatise and expose Malaysian airports to foreigners who might have ill-intentions against the country’s national security?
Airports are strategic assets that must be protected against those who might have other interests. Surely, I don’t need to educate Anwar on this matter.
I agree that BlackRock should not have been invited surreptitiously into the country in 2021. The eighth PM Tan Sri Muhyiddin Yassin cannot throw stones at the Madani government or pretend that BlackRock is a new phenomenon in Malaysia.
I suppose the government was emboldened to endorse BlackRock’s buying of shares through GIP in MAHB due to its earlier presence in the country.
It is still not too late to stop the privatisation of the MAHB unless of course the government is not telling the true story of the GLC (government-linked company).
Even if privatisation is acceptable, why invite a nefarious company like BlackRock to directly or indirectly purchase shares in MAHB or other GLCs for that reason.
Anwar’s argument that even if BlackRock makes an investment, the decision making will be in the hands of the GIP is not acceptable at all. Anwar is talking as though we were all born yesterday.
The global reputation of BlackRock is too well known for Anwar to dismiss allegations of its role in the genocide of Palestinians.
Why does Anwar want to present his image as the champion of the Palestinians yet when there is an opportunity to reject BlackRock with Palestinians blood on its hands, he backtracks?
The problem with Anwar from the time of his involvement in the 1997 Asian Financial Crisis (AFC) until today is his pro-US stand. I wonder why he has not cultivated his ties with US to advance the Palestinian cause. – June 26, 2024
Former DAP stalwart and Penang chief minister II Prof Ramasamy Palanisamy is the chairman of the United Rights of Malaysian Party (Urimai) interim council.
The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.
