Photo by Zahid Izzani/The Edge

KUALA LUMPUR (June 27): US-based global investment manager BlackRock, which has recently been in the spotlight due to the Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) privatisation deal, has total assets worth RM27.5 billion in Malaysia since its entry into the country in the 1990s, according to Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Of the RM27.5 billion, Zafrul said RM20.5 billion is in the stock exchange market, with equity investments in 100 listed companies, including the industrial sector, with three of the largest entities being banking institutions.

The remaining RM7 billion is invested in government and corporate bonds, Zafrul told the Dewan Rakyat on Thursday during the minister's question time.

Among BlackRock's investments in the government bond market are Malaysia Sukuk Global Bhd, Export-Import Bank of Malaysia Bhd, Malaysia Wakala Sukuk Bhd, Petroliam Nasional Bhd (Petronas), and Malaysia Sovereign Sukuk Bhd.

BlackRock also has investment interests in Tenaga Nasional Bhd or TNB (KL:TENAGA) amounting to RM8.6 million, Press Metal Aluminum Holdings Bhd (KL:PMETAL) amounting to RM625 million, and CelcomDigi Bhd (KL:CDB) amounting to RM526 million.

In addition, Zafrul said that BlackRock is a shareholder of several multinational companies operating in Malaysia, including Microsoft, Boeing, Intel, and Texas Instruments, which contribute to the development of the industry and the country's economy through investment projects.

Intel, according to Zafrul, has invested RM32 billion, employed more than 10,000 people, and contributed RM50 billion in export value for semiconductor components.

Boeing, through its subsidiary Aerospace Composites Malaysia Sdn Bhd, has invested RM300 million, employed 900 workers, and contributed RM10 billion in export value for aerospace components.

Meanwhile, Texas Instruments has invested RM13 billion, employed more than 2,000 people, and contributed RM20 billion in export value for electronic components.

The minister added that if BlackRock withdraws its investments from Malaysia, it will have negative implications and effects on efforts to realise the country’s investment agenda.

BlackRock, accused of involvement in the Palestinian genocide, is currently in the process of acquiring New York-based Global Infrastructure Partners (GIP). Last month, Khazanah Nasional Bhd, the Employees Provident Fund (EPF), GIP, and the Abu Dhabi Investment Authority — via a consortium named Gateway Development Alliance Sdn Bhd (GDA) — announced the plan to privatise MAHB.

This has prompted several quarters, including former prime minister Tun Dr Mahathir Mohamad, to ramp up pressure, urging Putrajaya to scrap the deal. Machang Member of Parliament Wan Ahmad Fayhsal Wan Ahmad Kamal has reportedly stated that the opposition may take to the streets in protest against the deal.