Khazanah’s GIP decision not from Cabinet, says Tok Mat

Cabinet minister Mohamad Hasan said he hoped the deal would not go through but ‘the decision is not up to us’. (Bernama pic)

PETALING JAYA: Government-owned Khazanah Nasional’s share deal with a company allegedly linked to US asset management firm BlackRock was not a decision of the Cabinet, a minister has revealed.

Umno deputy president Mohamad Hasan, who is foreign minister, said he hoped that the decision could be reviewed, Sinar Harian reported.

Mohamad, who is known as Tok Mat, said ministers from Umno had pleaded with sovereign wealth fund Khazanah against selling shares in Malaysia Airports Holdings Bhd (MAHB) to Global Infrastructure Partners (GIP).

“We gave our views and said if possible this deal should not be continued but it was already at a very advanced stage. So we will have to see how it goes. We do not know if it will proceed or not. The decision is not up to us,” he was quoted as saying.

Channel NewsAsia recently reported that the government could no longer renege on the MAHB privatisation plan as a formal offer had been made.

Criticism of the deal broke out because GIP is to be acquired by BlackRock later this year. BlackRock has been accused of “profiteering from genocide” through its stakes in US defence firms that manufacture weapons allegedly used by Israel.

GIP has said BlackRock is not involved in the move to privatise MAHB, in which GIP and the Abu Dhabi Investment Authority will have a 30% stake in MAHB, with Khazanah holding 40% and EPF 30%.