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PAC to consider probe into MAHB shares sale to BlackRock-linked company

KUALA LUMPUR: The Public Accounts Committee (PAC) is considering calls from several members of parliament (MPs) to investigate the sale of Malaysia Airports Holdings Bhd (MAHB) shares to a company linked with BlackRock.

PAC chairman Datuk Mas Ermieyati Samsudin said this after Putrajaya MP Datuk Dr Radzi Jidin raised the matter during a debate, following an explanatory session on the PAC report on the training fund management and the effectiveness of the Human Resource Development Corporation (HRD Corp) in the Dewan Rakyat today.

"On the issue raised by Putrajaya, I believe that not only Putrajaya but other members of this Dewan Rakyat also made similar suggestions for the PAC to look into the MAHB issue and call the relevant parties.

"InsyaAllah, we will look into the matter," she said during her winding-up speech.

Various parties have been pressuring Putrajaya to cancel the agreement because of Global Infrastructure Partners' (GIP) association with BlackRock, which has faced allegations of profiting from genocide through its investments in US defence companies reportedly supplying weapons used by Israel.

Despite this, GIP clarified that BlackRock was not involved in the MAHB transaction, even though BlackRock had previously agreed to acquire GIP in January.

The acquisition of GIP by BlackRock is expected to be finalised in the third quarter of 2024.

Prime Minister Datuk Seri Anwar Ibrahim recently assured the Dewan Rakyat that the management of GIP would be fully controlled by the company, and not by BlackRock.

He said that despite BlackRock acquiring GIP, the management of GIP would retain full control and responsibility over the strategic direction of the company and the companies it invested in.

The current market value of BlackRock's investments in Malaysia amounts to RM27.5 billion, with RM20.5 billion in Bursa Malaysia, and RM7 billion in Malaysian government and corporate bonds.

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