Kuala Lumpur: Prime Minister Anwar Ibrahim today explained why Global Infrastructure Partners (GIP) was chosen to participate in the exercise to privatise Malaysia Airports Holdings Bhd (MAHB).
He said that according to Khazanah Nasional Bhd, 145 companies initially applied to participate in the consortium seeking to take over MAHB, but only five were deemed suitable.
Anwar said stringent criteria had been set, including a requirement that MAHB’s majority shareholders, chairman and CEO, must be Malaysian.
“Other companies wanted management rights, including the roles of chairman and CEO. This was not acceptable (to Khazanah and EPF), which is why GIP was chosen,” he told the Dewan Rakyat during Prime Minister’s Question Time.
Under the exercise, GIP and the Abu Dhabi Investment Authorty are set to own a 30% stake in MAHB.
Meanwhile, Khazanah will increase its ownership of MAHB from 33.2% to 40%, and EPF from 7.9% to 30%.
Several quarters have been urging Putrajaya to scrap the deal due to GIP’s ties with investment firm BlackRock, which has been accused of “profiteering from genocide” through its stakes in US defence firms that allegedly manufacture weapons used by Israel.
Last Friday, GIP said BlackRock was not involved in the MAHB deal, despite the New York City-based company having agreed to acquire GIP in January. BlackRock’s acquisition of the firm will only be completed in the third quarter of 2024.
MAHB manages 39 airports throughout Malaysia, including five international airports, 17 domestic airports, and 17 STOLports (short take-off and landing airports).
Speaking today, Anwar refuted claims that GIP’s participation in the deal would pose a threat to national security, saying the airports would still belong to the government.
“National security issues fall under the government’s purview,” he added.
On the deal itself, he said: “The process is currently ongoing. The government, and I personally, do not want to disrupt it.”
No need to be ‘more Hamas than Hamas’
Anwar also stressed the importance of working with foreign firms for Malaysia’s development, including in the management of the country’s airports on a large scale.
“The government’s decision was to impose sanctions on trade with Israeli companies. Firms like Apple, Microsoft and Nvidia all have some Israeli interests. Should we cancel all trade with them?
“Although that may sound good to some people, it is not realistic. I’ve discussed the matter with Hamas leaders and they have no issues with (Malaysia working with these companies).”
He said to cancel all trade with such companies would be acting “more Hamas than Hamas itself”.
