Malaysia risks diplomatic ties with the US, over BlackRock

Democratic Action Party (DAP) national chairman Lim Guan Eng stated that, following the opposition’s logic, Malaysia would need to break off diplomatic relations with the United States for their support of Israel. 

“PMX said if this logic is extended further, then Malaysia would have to break off diplomatic relations with the United States for their support of Israel. 

“This does not make sense,” he said via a Facebook post. 

“Instead, he was unhappy at the extreme politicisation of government investments by the opposition, especially dragging BlackRock into the procurement of Malaysia Airports Holdings Bhd (MAHB) by Khazanah Nasional Bhd via its wholly owned subsidiary UEM Group Bhd and the Employees Provident Fund (EPF).
 
“Even Saudi Arabia has links with BlackRock. 

Amid the 2023 Israeli-Palestinian conflict, BlackRock, known for having shares in weapons companies that supplied arms to Israel, drew attention when its plans to privatize MAHB became known on May 15.

Last week, GIP’s head of transport, Philip Iley, stated that BlackRock would not be involved in any transactions related to MAHB’s privatization.

He further explained that despite GIP’s acquisition by BlackRock in January, the existing GIP leadership team would continue to have full control and responsibility over the company’s strategic direction and operations.

Previously, there were calls for Putrajaya to cancel the transaction due to GIP’s association with BlackRock, which held stakes in U.S. companies that manufactured weapons used by Israel.