GENERAL

EXPLOITING BLACKROCK ISSUE MERE POLITICAL TACTICS TO CREATE NEGATIVE PERCEPTION - FAHMI

22/06/2024 02:47 PM

NIBONG TEBAL, June 22 (Bernama) -- The exploitation by certain parties of BlackRock Inc's purported involvement in the restructuring of Malaysia Airport Holding Bhd (MAHB) are mere political tactics aimed at creating a negative public perception.

Criticising these actions, Communications Minister Fahmi Fadzil described them not only as misleading but also characterised them as a very short-sighted approach capable of undermining national planning.

"Those who are trying to capitalise on this issue fail to see our priority in improving the quality of airport services.

"BlackRock is not directly involved in the discussions between MAHB and Global Infrastructure Partners (GIP), a company believed to have the capability and expertise to assist us in restoring and enhancing our airports," he told reporters.

He was met by reporters while supporting Pakatan Harapan (PH) candidate Dr Joohari Ariffin during the nomination for the Sungai Bakap by-election today.

Fahmi, who also serves as the Unity Government's spokesman, explained that BlackRock is an institutional investor with shareholdings in various companies worldwide, not just in Malaysia.

Regarding the restructuring of MAHB, he clarified that 70 percent of the entity's shares are held by Khazanah Nasional Berhad and the Employees Provident Fund as the golden share, while the remainder belongs to GIP, and no shares have been sold to BlackRock.

Therefore, he emphasised that all strategic decisions within MAHB, including the appointment of key positions such as chairman and chief executive officer, as well as ensuring no staff will be laid off, remain under the authority of the Malaysian government.

The PH communications director further stated that the matter was deliberated at the Cabinet level, and there were no disagreements among the coalition parties thus far.

Any remaining concerns can be addressed through ongoing discussions, he added.

Yesterday, GIP asserted that BlackRock has never been involved in any transaction related to the restructuring of MAHB's interests through the Gateway Development Alliance.

-- BERNAMA


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