Malaysians Challenge Critics Of BlackRock: “Will You Quit Your Jobs?”

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As the debate against BlackRock’s investments in Malaysia gains traction, some citizens question the sincerity of those attacking the government’s position, pointing out the firm’s extensive shareholdings in Malaysian companies.

Some have thrown the gauntlet to those criticizing the government’s stance, questioning whether the firm’s detractors are prepared to resign from their jobs if their employers have ties to the investment behemoth.

They questioned whether the critics are so against BlackRock that they are willing to put their money where their mouth is and face the personal consequences of their stance.

One Malaysian took to Twitter to share his story.

User @muhazsab wrote, “My friend who works at an international bank has been busy attacking PMX regarding the Blackrock issue. I searched and found that Blackrock is indeed a major shareholder of his bank. I took a screenshot and sent it to him, asking when he plans to resign. I’m still waiting for his reply.”

While some accused @muhazsab of bluffing, a quick poll on the platform showed that most respondents believed his story, further fueling the debate.

Others pointed out the far-reaching implications of boycotting BlackRock, which has investments in over 100 major companies in Malaysia.

If critics want to boycott, they can’t be selective.

Even Tenaga Nasional Berhad (TNB), the national energy provider, has shares held by BlackRock, which begs the question: are the critics willing to live in the dark?

BlackRock Is Deeply Embedded In Our Economy

The US-based firm has been actively investing in Malaysia, with a current market value (MV) of US$4.3 billion or approximately RM24.7 billion.

This includes equity investments in listed companies amounting to RM18.7 billion and bonds worth RM7.9 billion.

According to BlackRock’s investment list in Malaysia, the banking sector comprises the three largest entities in which it has invested: Public Bank, with RM2.34 billion (2.75%), Maybank, with RM2.16 billion (1.88%), and CIMB, with RM1.42 billion (2.07%).

TNB ranks fourth with an investment of RM860 million (1.32%), followed by Metal Aluminium with RM625 million (1.62%), and CelcomDigi with RM526 million (1.03%).

Balancing Economic Interests and Political Sensitivities

Calling for a blanket ban on their investments is impractical and could have severe repercussions for our financial stability and daily lives.

Those demanding such actions should consider the potential impact on their own livelihoods and access to essential services.

Meanwhile, Prime Minister Datuk Seri Anwar Ibrahim criticized certain parties for politicizing the government’s decision to allow BlackRock to hold a stake in Malaysia Airports Holdings Berhad (MAHB).

This decision sparked criticism against BlackRock.

Anwar pointed out that the previous administration allowed Israeli ships to operate in Malaysian ports in 2002.

He added that initially, they discussed it with Global Infrastructure Partners (GIP), a leading global infrastructure investment firm, and it was only later that BlackRock said it would acquire GIP.

READ MORE: Malaysia’s Plan To Privatise MAHB Gains Momentum, Reports CNA

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