The silent invasion: The rise and rise of BlackRock in Malaysia
Many of the companies the BlackRock equity fund holds equity, are members of the WEF, in their own right. This includes CIMB Holdings, Tenaga Nasional, and Petronas.
Murray Hunter
BlackRock is a major influence upon the Malaysian economy
Over the last decade US based equities firm BlackRock has become extremely influential within the Malaysian economy.
Most Malaysians probably don’t know what BlackRock is. BlackRock is the largest international investment corporation in the world. It manages global assets worth some USD 10 trillion. Founded in 1988, BlackRock had a dramatic ride to the top of the investment world, playing major investment roles in most national economies, including Malaysia.
Just note: BlackRock owns CNBC
BlackRock primarily invests funds for clients through numerous companies and funds. BlackRock also advises governments and has a close relationship with the US Federal Reserve. BlackRock play’s a major role in what is called an environmental, social, and corporate governance investment (ESG), and has become very active in the renewable energy and environmentally sustainable sectors.
Its also important to note that BlackRock is a major strategic partner with the World Economic Forum (WEF).
BlackRock’s influence within the Malaysian economy
Below is a brief summary of BlackRock’s investments within the Malaysian economy today.
Ownership of Malaysia’s corporations
BlackRock’s MSCI Malaysia Equity Fund is capitalised at USD 239,653,062 (16th February 2024). The fund holds equity in hundreds of Malaysian corporations. The current exchange rate of RM 4.78 to the USD is allowing foreign equity funds like this by up Malaysian companies on the cheap. The BlackRock website shows the MSCI Malaysia equity fund holds equity in 37 blue chip public companies. The following screenshots show the breath and extent of the fund’s equity holdings.
