Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Aziz speaks during Minister’s Question Time at Parliament June 27, 2024. — Bernama picKUALA LUMPUR, June 27 — Malaysia will face significant negative impacts if BlackRock Inc withdraws its investments from the country, Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Aziz has warned.
“This includes the semiconductor industry in Penang, Infineon Technologies in Melaka and Kedah, Texas Instruments in Melaka and Kuala Lumpur, and Boeing’s subsidiary Aerospace Composites Malaysia in Kedah.“In terms of job creation, Microsoft, which invested RM32 billion, created over 10,000 jobs; Texas Instruments, with RM13 billion, hired 2,000 employees; Boeing, with RM300 million, hired 900; and ROHM invested RM3 billion in Kelantan, hiring 2,000 workers.
“From the ministry’s standpoint, we have no dealings with BlackRock Inc. Our dealings are with companies like Microsoft and Intel; we have no dealings with the shareholders of these companies,” he clarified.