Don't go overboard in debating BlackRock issue, says Anwar

The Star

ny polemic related to the BlackRock issue that is linked to the Israeli regime could affect Malaysia's interests as a developing country, says Prime Minister Datuk Seri Anwar Ibrahim.  Speaking at the July monthly assembly of the Prime Minister's Department on Monday (July 1), Anwar reminded everyone not to be 'excessive' in discussing polemic linked to the BlackRock issue.  Read more at https://tinyurl.com/2twx4f98  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00I also want to touch on the polemic about Black Rock.

00:08Some have already followed, but I think the public responsibility should know.

00:12Our position on Gaza,

00:15I don't want to show that I and the Prime Minister are quite firm,

00:21but in history and compared to other countries,

00:26we are one of the most clear and firm.

00:31Let's not demand more than that.

00:36We are a developing country.

00:38Let's look at our efforts.

00:41Let's not show off because of greed.

00:44We are ruining the interest of the country.

00:48That is a general principle.

00:50So every time I do,

00:52when I speak in front of President Joe Biden,

00:56Olaf Scholz of Germany,

00:59and other countries,

01:01I don't forget my responsibility.

01:03While I defend this principle,

01:06I also want my country to be safe,

01:08and the people to be assured of their position.

01:13So in terms of Black Rock,

01:15as you know, it's not new.

01:18For example, GIP, which I mentioned in Parliament.

01:22GIP is a global infrastructure company.

01:27It has been operating in Malaysia since 2012.

01:35EPF, KWSP, and GIP

01:41took over the Sydney airport and Gatwick airport in London.

01:49KWSP has a stake there.

01:55That's why KWSP and Khazanah are competing with GIP.

02:04Our airport has its strengths and weaknesses,

02:08but compared to other big airports,

02:12it has many weaknesses,

02:14especially in terms of operation,

02:16and technical expertise.

02:20There is room for improvement

02:25because we are lagging behind.

02:28The planning, various aero trains, etc.

02:33Despite that, KWSP and Khazanah's decision,

02:36which they told me,

02:38I said, continue.

02:44At the end of last year, Black Rock,

02:47the largest investment company in the world,

02:53had 6 trillion US dollars.

03:00It is the largest investment company in the world,

03:04including Saudi Arabia, Qatar, UAE, and the United Arab Emirates.

03:10We are a small company.

03:12In 2018, the former Prime Minister in London

03:18emphasized the need for Black Rock to enter Malaysia

03:24more clearly.

03:31In 2021, the former Prime Minister

03:35approved a KWSP subsidy

03:40to hand over to Black Rock

03:43to manage KWSP's special fund of 600 million ringgit,

03:50or US$2.5 billion,

03:53in 2021.

03:57At that time,

04:00we sympathized with Israel.

04:04Some people said that was before October 7,

04:06before the genocide.

04:08The political understanding is very weak.

04:13Israel's oppression of Palestine

04:18since 1948,

04:22which is called Nakba,

04:25the destruction,

04:27the extermination of millions of people,

04:30the killing of 10,000 people,

04:33whatever the term is,

04:35it is an oppression

04:38that is very, very clear.

04:43No one can deny it.

04:46A few years ago, we knew about the Sabra Shatila.

04:49A few years ago, we knew about the attack in Gaza.

04:53These things are getting worse.

04:57If there is a company,

05:00Microsoft or Google,

05:02that sympathizes with Israel,

05:03we are against it.

05:05But have we ever thought

05:07that we have to close all the paths

05:11and cooperate with them?

05:12That is our problem.

05:14That is our effort.

05:18And there is also a longing

05:20that we have to accept.

05:23Importantly,

05:25in this case,

05:27BlackRock is not new.

05:30The GIP negotiations until the end of last year,

05:34then,

05:35only then,

05:36KBDSP and

05:38Hazanah Maklub,

05:40there is a possibility that BlackRock will take over GIP.

05:44But GIP is defended as a company

05:47that together with them,

05:50with the MHB airport,

05:53is GIP, not BlackRock.

05:55Because the expertise is in GIP.

05:59So at that stage,

06:01we cannot make a hasty decision.

06:06Because

06:0727 billion ringgit

06:11BlackRock funds

06:13in the stock market.

06:15How much?

06:1627 billion ringgit.

06:207 billion ringgit

06:22in bonds and bonds.

06:25So 27 to 28 billion ringgit

06:28in the stock market and bonds in Malaysia.

06:32We can show that we are tough,

06:35Some say, no, no.

06:36That's a little bit.

06:38This is a lot, we can't.

06:40Some say, take it away.

06:41No, take it away.

06:42The airport.

06:43The airport,

06:44to the prime minister, he knows better.

06:46But this is trying to

06:48distort the public's view.

06:50The airport is not taken away.

06:52Land.

06:53The airport belongs to the government.

06:56The issue now is management.

07:0170% remains.

07:03In the past,

07:05before this process,

07:0941%

07:11KWSP and treasury.

07:14With this transition,

07:1570% holdings

07:18treasury and KWSP.

07:21Some say, even if it's 30%,

07:24they will take it away.

07:26I don't know what to say.

07:29Secondly, GIP is 30%.

07:31That's not all of GIP.

07:33In the past,

07:34foreign holdings were 27%.

07:37Now, it's 30%.

07:39But 30% is GIP and Adia.

07:42Adia is Abu Dhabi Investment Authority.

07:47Adia and GIP are a strong combination.

07:50And they are committed

07:52in GIP to work together

07:55in the management of the airport.

07:59Why did they choose GIP?

08:01Why didn't they choose something else?

08:03As far as I know,

08:04there are 140 treasuries

08:06that are in the process.

08:10Only 5 are known.

08:13But they know the conditions.

08:15Treasuries and KWSP are tight.

08:17Many foreign companies

08:18don't want to be involved.

08:19Because

08:20we continue to hold full power.

08:22Including Golden Share,

08:24the finance minister,

08:25is suspended.

08:27The chairman is still a Malaysian.

08:29The CEO must be Malaysian.

08:32The security is fully controlled

08:35by the Malaysian security.

08:38So,

08:39even though we have the right

08:40to have different opinions

08:41on who should be in charge,

08:43but to sell to a company

08:45that is pro-Israel,

08:47that kills Muslims,

08:48this is a sentiment

08:50that is still unfulfilled.

08:53That's what I want to emphasize.

08:55That's our decision.

08:57I'm in the public office.

09:00I'm the chairman of KSN,

09:02KPPA,

09:03and KSU.

09:06If you have questions,

09:07you can ask.

09:08We don't forbid it.

09:09Because people are too emotive

09:13about the Gaza issue.

09:14The cruelty is everyday.

09:16Sometimes we want to see,

09:18read, and watch.

09:21The cruelty is no longer necessary.

09:24It's not that I don't like it.

09:25It's just that I don't try.

09:27It's too painful.

09:34We are social believers.

09:36Even though some of us make it public,

09:37some of us don't.

09:38We try as hard as we can.

09:41In every visit,

09:43whether it's abroad or here,

09:45I never miss a chance

09:47to speak firmly

09:49on the Gaza issue.

09:50Martin Duterte from the Netherlands,

09:52and the last one,

09:53Premier Li Chiang.

09:54We talked about it.

09:56China has a lot of questions

09:59about the Gaza issue.

10:01But in front of Biden,

10:03Olaf Scholz,

10:04Albanese,

10:05Australia,

10:06Kishida,

10:08and Japan,

10:09we speak up.

10:10We never miss a chance

10:12to talk about the country,

10:14whether it's abroad or here.

10:17The first topic is Gaza.

10:19That's our decision.

10:20And I don't want to

10:24deny it

10:25because it's a principle

10:26and a cruel question

10:28that's very serious.

10:30So,

10:31I hope that

10:34you can understand the basis.

10:36Once again, I insist

10:37that you can ask,

10:38you can have a good discussion,

10:40you can give your opinion,

10:42even though this is a decision

10:43of the Treasury and KWSP.

10:46Some of the cabinet members

10:48have said

10:49that they didn't give their opinion.

10:51That's right.

10:52I know.

10:53It's in the government.

10:55The decision of the Treasury and KWSP,

10:57we don't report everything.

10:59This is a business matter.

11:03If we report it,

11:04it will be a problem.

11:05Insider trading,

11:07there will be a lot of problems.

11:08So, if it's a business matter,

11:13investment,

11:15if it's KWSP, it's KWSP.

11:18If it's the Treasury, it's the Treasury.

11:19If it's JLIC, it's a decision.

11:22Petronas is the same.

11:24But if it's a business matter,

11:26it will inform

11:28whether there is a process or a decision.

11:30And I don't interfere.

11:33I just follow the process standard.

11:37This is what sometimes becomes a problem.

11:48For more UN videos visit www.un.org

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