BlackRock owned assets RM27.5 billion in Malaysia – Minister Tengku Zafrul

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KUALA LUMPUR: The BlackRock Inc. (BlackRock) owned assets valued around RM27.5 billion in industry sectors with three big entities involving the banking institutions in Malaysia.

Minister of Investment, Trade and Industry, Datuk Seri Tengku Zafrul Abdul Aziz said, the amount covers RM20.5billion share markets in Bursa Malaysia and RM7 billion in government bonds and corporate.

“BlackRock has also investment interest of RM8.6 million in Tenaga Nasional Berhad (TNB), Metal Aluminium (RM625 million) and CelcomDigi (RM526 million).

“Companies such as Microsoft, Boeing, Intel and Texas Instruments that have shares in BlackRock contribute to the development of states’ industry through investment projects in Malaysia,” he said at the Ministers’Question at the Dewan Rakyat, Thursday as reported by Sinar Harian.

He said that when replying to the question from Lim Guan Eng (PH-Bagan) about the amount of BlackRock investments and related companies in Malaysia.

The Minister also highlighted that several share firms of global investment companies contribute to the growth of semiconductor sub-sector in several states.

He said, Intel is amongst the contributors to the growth of subsector in PulauPinang, Infineon in Melaka and Kedah, Texas Instruments in electrical and electronics in Melaka and Kuala Lumpur and Boeing subsidiary that is Aerospace Composites Malaysia Sdn. Bhd. (ACM) in aerospace industry in Kedah.

Meanwhile, in the export values, Tengku Zafrul said, companies with BlackRock shares have given great contributions to the national exports.

“Intel has contributed RM50 billion export values for semiconductor components, Texas Instruments electronic component exports (RM20 billion) Microsoft information technology services (RM15 billion) and aerospace component of Boeing exports (RM10 billion).

“Based on the explanation, the drop in the BlackRock investment from Malaysia if it happens is obviously going to have a negative implication and effects to the efforts to realize the national investment agenda,” he said.

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