Sale of MAHB Shares to Blackrock/GIP Will Only Strengthen the US Geopolitical Position in Malaysia

News:

Since last June, there has been a heated debate in this country about the American entity, Global Infrastructure Partners (GIP), a company in the process of being wholly acquired by US-based Blackrock, expressing interest in purchasing a 30% stake in Malaysian Airports Holdings Berhad (MAHB), a state-owned company that manages 39 airports in the country. BlackRock is known to support the illegal Zionist entity and funds from the company have been used to develop weapons sent to the illegal Zionist entity. Besides ties to the Zionist entity, we must also consider this issue from the perspective of US geostrategy, which has been less emphasized. This geostrategic aspect is significant as it impacts the country's and the Muslim Ummah’s future.

Comment:

In 2022, the US, during the G7 conference, established the Partnership in Global Infrastructure and Investment (PGII) to create their own economic corridor as a challenge to China's Belt and Road Initiative (BRI). The PGII project, with the slogan "a free and open Indo-Pacific," aims for the US and its allies to dominate and control key infrastructure, particularly in Indo-Pacific countries, from Chinese influence. To realize PGII, the US and other G7 countries need up to USD600 billion to achieve the project's objectives. Blackrock and Microsoft, who are key players in this project, are collaborating with the US administration to fulfil this agenda. In the latest G7 conference on June 13 in Fasano, Italy, among the decisions made was that G7 had prepared up to USD30 billion to invest in infrastructure companies in developing countries. Of this fund, USD4 billion will be used by private US investors like GIP, Blackrock, and Brookfield for various infrastructure projects. Henceforth, we find that GIP/Blackrock's investment actions are not merely based on corporate and profit considerations but more importantly are geostrategic actions outlined by the US. Besides the 30% stake in MAHB, GIP/BlackRock also has plans to buy shares in port companies like MMC Port. Microsoft has also recently added RM10.5 billion to its investments in Malaysia in cloud technology and artificial intelligence. All these indicate that the US PGII project is being implemented in Malaysia.

The US’s control over strategic infrastructure in this country seems easily achievable because capitalism's open policies allow any party to buy company shares as long as they have the capital and can generate profits. With substantial and enticing capital like that of Blackrock/GIP, Malaysia will easily agree to sell MAHB shares to them. With 30% ownership of MAHB shares, the US will certainly have a voice in determining or at least influencing the company’s direction. Such a corporate shareholding system is not permissible under Sharia law and opens the door to foreign domination over the interests of Muslims in general. From another perspective, Muslim leaders also appear weak in their 'political will' and lack a clear ideological direction. Their political ambitions are limited to protecting national interests, focusing solely on raising the country's GDP and achieving developed nation status. They seem too naive to realize the US plan, resulting in their willingness to succumb to it. Furthermore, Malaysia often views itself as a ‘neutral nation’ that accepts projects from any party, be it China’s BRI or the US’s PGII – with the view that the country can benefit from the rivalry between both parties and Malaysia can enjoy the profits. In reality, this neutral policy further highlights Malaysia's role as a pawn in the hegemonic game of superpower countries, and the victims of any geopolitical turmoil will be the Muslims themselves. The narrow thinking of Muslim leaders in 'managing Muslim affairs' will worsen the geopolitical situation of the Muslim Ummah.

And for this Ummah, there is no other way to escape this influence except for Muslims to strive hard to re-establish the Caliphate and fully implement Islam. The Caliphate will unite the entire Muslim world, gathering all natural and human resources, and strengthen its geopolitical position globally. Considering the existing strength of the Muslim world today, achieving this position is not impossible. The Caliphate will not depend on foreign countries and will never allow any other global power to dominate and set their geostrategic plans over Muslims.

Written for the Central Media Office of Hizb ut Tahrir by
Dr. Mohammad – Malaysia