Mukhriz Mahathir, president of Pejuang, has called for Malaysia to maintain a steadfast stance against Israel, emphasizing the inconsistency of involving BlackRock, a US asset management firm, in Malaysia’s economy. This plea comes in light of the privatization plans for Malaysia Airports Holdings Bhd (MAHB), where BlackRock's indirect participation through Global Infrastructure Partners (GIP) has sparked controversy.
Speaking at the 'Reject BlackRock' forum held at Kuala Lumpur and Selangor Chinese Assembly Hall, Mukhriz criticized the decision to include BlackRock due to its alleged ties to US defence companies involved in manufacturing weapons used by Israel. He argued that such involvement contradicts Malaysia's longstanding position of supporting Palestine and condemning Israeli actions, a stance upheld since the era of Malaysia's first prime minister, Tunku Abdul Rahman.
"As a sovereign nation valuing independence, Malaysia must maintain a clear and consistent stance," Mukhriz emphasized, stressing that economic pressures should not compromise ethical principles. He warned that yielding to foreign economic influences could undermine Malaysia's moral authority on the global stage.
The privatization of MAHB, facilitated by Khazanah Nasional and the Employees Provident Fund (EPF) through the Gateway Development Alliance, aims to increase Malaysian ownership in the airport operator to 70%. The consortium includes international partners like the Abu Dhabi Investment Authority (Adia) and GIP, which has drawn scrutiny due to BlackRock's impending acquisition of GIP.
Despite calls to reconsider BlackRock's involvement, a finance ministry official indicated that the privatization plan is irreversible once formal offers have been made, citing the practicality of ongoing processes.
Nazari Ismail, chairman of BDS Malaysia, echoed Mukhriz's concerns, advocating for a boycott movement against BlackRock similar to actions taken by US students supporting Palestine. He underscored the reputational risk to Malaysia if it proceeds with cooperation that indirectly benefits entities linked to Israeli interests.
The forum highlighted broader implications beyond economic considerations, framing the issue as pivotal to Malaysia's international integrity and commitment to human rights. Mukhriz and other speakers stressed the need for Malaysia to align its economic activities with its principled stand on global issues, particularly in advocating for justice and sovereignty for Palestine.
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