The government will retain full control of Malaysia Airports Holdings Bhd (MAHB), said Finance Minister II Datuk Seri Amir Hamzah Azizan in his explanation in the Parliament special chambers on Wednesday (July 3) on the controversy involving Israel-linked Global Infrastructure Partners' role in the Malaysian consortium to increase shares in MAHB.
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NewsTranscript
00:00Opposition lawmakers questioned the privatization move by Malaysia Airport's Holdings Berhad
00:08with shares held by New York-based Global Infrastructure Partners, or GIP.
00:14They expressed their views on possible influence of the Israel-linked BlackRock investment
00:18firm after BlackRock announced its acquisition of GIP in January.
00:29Explaining this in the Parliament's special chambers on Wednesday, Finance Minister Tu
00:34Datuk Shri Amir Hamza Azizan said the government will retain full control of MAHB.
00:41He said MAHB will be delisted and a consortium of companies led by Kazana National and Employees
00:48Provident Fund will acquire the remaining 59% stake in MAHB owned by various investors.
00:57The other parties in the consortium are GIP and Abu Dhabi Investment Authority.
01:02Once the takeover is done, GIP and Abu Dhabi Investment Authority will own a 30% stake,
01:09while Kazana and EPF will own the remaining 70%.
01:40GIP is a fund manager.
01:45It collects funds from other investors and invests them.
01:48After 10 years, it has to leave because it has to return the funds to the investors.
01:58Those who said they were interested in the firm said they didn't want to leave.
02:03Kazana and KFC don't want a partner like that.
02:07They feel that after they have fixed the current situation, they want to release the funds back to KLCI.
02:17I told you, we don't hand over the management to our partners.
02:22This is a partner.
02:24They give advice. BlackRock takes the funds, but they can't interfere.
02:28Because the investors don't allow other people to enter.
02:32Because when they enter the funds, BlackRock is not there.
02:36So why do we want to confuse BlackRock with this?
02:39This is important for Malaysia.
02:41We have found the best way to do it.
02:43We know how to do it.
02:45And we support what we want to do for Palestine.
02:50It's not a mess.
02:51This is a balanced solution.
02:54He said the government will also continue to have a representative in the MAHB Board of Directors.
03:00He said the exercise is a strategic move necessary to ensure that Malaysia will not be left behind in the aviation sector.