'Blackrock factories' in K'tan nothing compared to MAHB, MP tells minister

Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal today said the Blackrock-linked factories in Kedah and Kelantan are nothing compared to the planned Malaysia Airport Holdings Berhad (MAHB) takeover.

Blackrock’s investments in Malaysia are small and passive, unlike the MAHB deal which will give Global Infrastructure Partners (GIP) a voice in the management of 39 airports nationwide, he said.

“The concern we have raised with (the) MAHB (deal) is purely on strategic grounds, beyond financial concerns. 

“It is about the controlling ability of GIP and Blackrock over our airports for a certain period of time, especially when it comes to the management and technical matters of our airports,” the Bersatu Youth chief told Malaysiakini.

Earlier today, PKR vice-president Nik Nazmi Nik Ahmad called on Perikatan Nasional to shut down all Blackrock-linked factories in Kedah and Kelantan, which are states ruled by the coalition.

He did not mention what businesses BlackRock has in the two states, but Boeing - which it has stakes in - has a factory in Kedah while its subsidiary Agnico Eagle Mines has shares in a mining company that operates in Kelantan.

The controversy erupted on May 15, when Khazanah Nasional announced that the Abu Dhabi Investment Authority and GIP - through GIP Aurea Pte Ltd - would form a consortium to acquire shares in MAHB.

The decision courted flak from various quarters after it was found that Blackrock, a company deemed to have close ties with Israel, is in the midst of acquiring GIP.

US influence

Besides the control that GIP would gain over Malaysian airports, Wan Fayhsal expressed worries that the deal was politically biased in the United States’ favour.

He referred to a June 6 report from Reuters, which talked about the US intending to stamp its presence within the Asia-Pacific region amid rising tensions with China through the Indo-Pacific Economic Framework (Ipef).

He also cited a GIP press release from the same day, which revealed that the company established a coalition with the Indo-Pacific Partnership for Prosperity for infrastructure investments in Ipef partner economies.

“We just want the government to abort the deal that could relinquish the management and technical aspects of managing our airports to GIP and Blackrock, which are being featured prominently as the driver of the US government’s Ipef to counter and contain China’s Belt and Road Initiative in Malaysia and Asean,” he said.

Besides that, he said in a press conference in Parliament that there could be a roadside rally to protest the deal.

“We will be with the NGOs and Malaysians in protest. If not in the Dewan (Rakyat), then it will be on the roads, wait and see, god willing,” he said.

Similarly, Jerantut MP Khairil Nizam Khirudin, who was at the press conference, said that the deal should be referred to the Special Select Committee on Infrastructure, Transportation and Communication.

The committee could produce a report for MPs to debate on, he said.

Wan Fayhsal said that a debate on the matter is important as very little is publicly known about the deal.

The fact that the Khazanah Nasional chairperson, finance minister, and prime minister are the same person is a red flag, he said.

He had previously filed an emergency motion to the Dewan Rakyat for an immediate debate on the MAHB deal.

However, he said that the motion had been rejected for technical reasons.

When the Dewan Rakyat reconvened for its evening sitting today, deputy speaker Alice Lau instructed him to file a new emergency motion over the matter.

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