BlackRock Holds Equities Globally, RM 27.5 Billion In Malaysia

BlackRock, the world’s largest asset manager, manages assets totaling USD 10.5 trillion (approximately RM49.35 trillion as of March 31, 2024). This includes holdings in nearly all publicly listed companies globally and sovereign wealth funds for countries like Saudi Arabia, the UAE, Oman, Bahrain, and Indonesia.

Since the 1990s, BlackRock has maintained a strong presence in Malaysia, with substantial equity investments in 100 listed companies across various sectors, notably in banking institutions. Their total assets in Malaysia amount to approximately RM27.5 billion, comprising RM20.5 billion in equities on Bursa Malaysia and around RM7.0 billion in government and corporate bonds.

Malaysia’s Investment, Trade and Industry Ministry (MITI) Minister, Tengku Zafrul Abdul Aziz detailed specific investments by BlackRock in Malaysian entities such as Tenaga Nasional Berhad (RM8.6 million), Metal Aluminium (RM625 million), and CelcomDigi (RM526 million) in response to inquiries by Lim Guan Eng (DAP-Bagan) regarding BlackRock’s investments in Malaysia during the Dewan Rakyat sitting today (June 27).

Furthermore, Tengku Zafrul noted that BlackRock’s investments extend to major multinational corporations operating in Malaysia, including Microsoft, Boeing, Intel, and Texas Instruments. These investments contribute significantly to industrial development and economic growth in Malaysia, such as Intel’s semiconductor sub-sector growth in Penang and Infineon’s operations in Melaka and Kedah.

Regarding employment and investment values, these multinational firms supported by BlackRock have injected substantial capital into Malaysia’s high-value technology sectors, creating significant job opportunities. For instance, Tengku Zafrul highlighted that Intel has invested RM32 billion and employs over 10,000 individuals, while Texas Instruments has invested RM13 billion, employing more than 2,000 people.

In terms of exports, Tengku Zafrul said that these companies have significantly contributed to Malaysia’s export revenue. Intel alone has contributed RM50 billion in semiconductor exports, while Texas Instruments has contributed RM20 billion in electronic component exports.

He emphasised that any withdrawal of BlackRock’s long-standing investments in Malaysia would have detrimental implications for the country’s investment agenda, potentially affecting economic stability and industrial development.

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