PUTRAJAYA will retain full control of Malaysia Airports Holdings Bhd (MAHB), says Datuk Seri Amir Hamzah Azizan (pic).
“The management of MAHB will not be taken over by foreigners. MAHB will continue to be controlled by the government, in terms of ownership, management and security aspects,” the Finance Minister II said during his ministry’s explanation in the Parliament special chambers yesterday.
He said a consortium, led by Khazanah Nasional Bhd and the Employees Provident Fund (EPF), would acquire the remaining 59% stake in MAHB, which is owned by various investors.
He said the intention is to delist MAHB and for the consortium to have 100% ownership of MAHB, after its privatisation.
“This means the consortium is not selling its stake but is instead buying MAHB shares.
“Hence, the issue of Khazanah selling MAHB’s shares to foreign investors does not arise,” he said.
Amir Hamzah said the government would continue to hold “golden shares” in MAHB.
He added that based on its rights as the golden shareholder, it has the authority to appoint the chairman and managing director of MAHB, both of whom must be Malaysian citizens.
The government will also continue to have a representative on the MAHB board of directors.
He said the exercise was a strategic move necessary to ensure that Malaysia would not be left behind in the aviation sector.
The other parties in the consortium are New York-based Global Infrastructure Partners (GIP) and Abu Dhabi Investment Authority (Adia).
The two companies will own a 30% stake while Khazanah-EPF will own 70% when the takeover is completed.
Khazanah and EPF collectively own 41% stake currently.
Amir Hamzah said GIP is only involved as an investor and technical partner to provide advice and share their expertise to step up the airport’s efficiency.
“The allegations that foreigners will be taking over the country’s airports is untrue. All airports will continue to be owned by the government and MAHB will (continue) its role as an airport operator,” he said.
As for security, this will continue to be under the purview of Malaysian authorities including the Immigration Department, police and Malaysian Quarantine and Inspection Services Department (Maqis).
“Entry and exit of foreigners will continue to be the responsibility of the Immigration Department without interference from outsiders,” he said.
“With the consortium, the rejuvenation of the country’s airports can be implemented immediately,” he said, adding that the consortium could fulfil the RM10bil investment that would be needed for the next five years, given its solid financial footing.
“The MAHB’s main priority is for the country’s airports to reach global status and remain competitive on the international stage,” he said.
Amir Hamzah said although Malaysia would not stop companies from any country from investing in Malaysia, no Israeli companies could invest here.
“The government under Prime Minister Datuk Seri Anwar Ibrahim is firm on this. For example, Zim, an Israeli shipping company was prohibited from docking in Malaysian ports since December 2023,” he said.
In January, it was announced that GIP is being acquired by BlackRock, with the transaction expected to be completed in the third quarter of this year.
BlackRock has been criticised by Perikatan Nasional politicians due to the former’s significant investments in Israel.
GIP had issued an official statement stating that BlackRock would not be involved in the management of the airports under MAHB.
