Damned if you do, damned if you don't

Much has been said about the controversial BlackRock-Malaysia Airports Holdings Berhad (MAHB) investment saga.

So much so, the hotly debated share deal has undergone so much scrutiny that it continues to be embroiled in the pressure cooker.

Why is the collaboration attracting so much brickbats and criticisms from politicians and Malaysians?

Let's examine the reasons behind the so-called impasse and decide on whether the deal is good or bad for Malaysia.

BlackRock has been in Malaysia for decades

To be fair to BlackRock, the investment and financial services titan has been a steady investor in the Malaysian corporate scene for decades.

The New York-based asset management group has stakes in numerous government-linked companies and private firms which includes Tenaga Nasional, Telekom Malaysia and Maxis to name a few.

But it is necessary to highlight the fact that BlackRock does not have management control over these companies and no board representation.

RELATED ARTICLE: BlackRock sudah lama di Malaysia, nilai pelaburan kini lebih RM32 bilion

Not all Jews are bad people

Some Malaysian Muslims have the perception that all Jewish people commit genocide. This is not necessarily so.

As Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz said BlackRock is not an Israeli-owned company.

The fact of the matter is, BlackRock is one of the world's top financial services group managing assets worth some US$7 trillion for its global clients.

BlackRock already had investments in Lockheed Martin for many, many years even before the genocide in Palestine and it does not mean the firm is complicit with the atrocities.

Malaysia should honour its financial agreements and it should not move its goalposts at its whim and fancy.

MAHB on BlackRock's radar is an honour

Let's face it, Malaysia is not exactly an investment haven among international investors right now.

But for MAHB to be on the radar screen of BlackRock is a badge of honour and a feather in the cap for Malaysia.

BlackRock chief executive officer Larry Fink is an astute businessman with a keen eye on investment able to identify good companies.

The fact that MAHB is on the radar of Blackrock along with other top global firms should be an honour and an acknowledgement for Malaysia.

BlackRock injects expertise into MAHB

When considering whether the Malaysian government should proceed with BlackRock's involvement in the privatization of Malaysia Airports, it's essential to balance economic potential with political sensitivities.

BlackRock, a titan in global finance, brings immense capital and management expertise, which could significantly boost the efficiency and profitability of Malaysia's airports. 

"This influx of expertise and resources could propel Malaysia’s infrastructure forward, enhancing its status as a prime destination for foreign investment," said Samirul Ariff Othman, a senior consultant at Global Asia Consulting told DagangNews.

"However, the geopolitical landscape complicates the picture. 

Malaysia's strong support for the Palestinian cause means that BlackRock's alleged ties to Israel have sparked substantial public and political backlash.

In a nation where political stability is deeply intertwined with public sentiment, the government must tread carefully," said Samirul. 

"Ensuring Malaysia retains strategic control over its critical infrastructure is paramount," said Samirul.

He added safeguards that prevent undue foreign influence while leveraging BlackRock's strengths could strike a balance that reassures both the public and political factions.

The broader impact of this decision cannot be understated. 

"Successfully managing this partnership could position Malaysia as a beacon of economic growth and stability, attracting further foreign direct investments.

Conversely, capitulating to political pressure and scrapping the deal might signal instability, deterring future investors wary of unpredictable shifts.

"Engaging stakeholders transparently and communicating the deal’s benefits and safeguards can mitigate opposition and build public trust.

Ultimately, proceeding with BlackRock's involvement presents a nuanced challenge.

"It requires a strategic blend of economic foresight and political acumen.

If navigated deftly, this move could not only transform Malaysia’s airport infrastructure but also underscore its reputation as an investment-friendly nation, fostering long-term economic growth and stability," Samirul. 

Conspiracy theory

There is also a conspiracy theory that the US military is behind the deal.

The CIA (Central Intelligence Agency) wants to bolster its spying activities on China in the South East Asian region.

The US already has allies in Singapore, the Philippines and Japan.

And now it wants to beef up its clandestine activities in the region to check on China's presence. Feasible? Go figure.

Damned if you do, damned if you don't

Whichever way, Prime Minister Datuk Seri Anwar Ibrahim right now is definitely stuck between a rock and a hard place.

By moving forward with the deal, he risks political backlash from his opponents who will fan the flames of discontentment among Malaysians especially on all social media platforms.

If he pulls the plug, Anwar risks shunning away much needed investments for the country which will have dire long-term consequences.

In this scenario, the BlackRock-MAHB quagmire will continue to hog the headlines.

Whichever way this saga goes, its damned if you do, and damned if you don't. - DagangNews.com