Why is Umno backing the MAHB deal despite internal dissent?

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Umno Reiterates Support for MAHB Acquisition, Aligning with Anwar's Government

Umno officially supports the government's acquisition of Malaysia Airports Holdings Bhd (MAHB), with Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi clarifying that any dissent expressed by his deputy, Datuk Seri Mohamad Hasan, represents a personal viewpoint rather than the party's stance. This alignment follows concerns raised by Mohamad Hasan regarding the transaction's lack of collective Cabinet consensus, although he acknowledged the deal's advanced stage. Prime Minister Datuk Seri Anwar Ibrahim has urged against politicizing the MAHB deal, emphasizing its importance amidst ongoing efforts concerning Gaza.
Umno's Official Position Clarified

Deputy Prime Minister Ahmad Zahid Hamidi, who also presides over Umno, stated that the party's position on the MAHB acquisition is in sync with that of Prime Minister Anwar Ibrahim's government. He explicitly addressed remarks made by Umno deputy Mohamad Hasan, indicating that Hasan's expressed reservations about the deal were his individual opinion. Zahid mentioned a prior conversation with Hasan, who subsequently provided an explanation for his comments.
Concerns Over Cabinet Consensus Raised

Prior to Zahid's clarification, Mohamad Hasan, who also serves as the Minister of Foreign Affairs, had reportedly conveyed that the share deal involving Khazanah Nasional Bhd and Global Infrastructure Partners (GIP) was not a unified Cabinet decision. Reports indicated that Umno ministers privately disagreed with the transaction's progression, but recognised that the deal had progressed too far to halt. This sentiment suggested a divergence between the party's internal sentiment and the government's ongoing actions.
Prime Minister Urges Against Politicisation

Prime Minister Anwar Ibrahim has called for an end to the politicisation of the MAHB acquisition, particularly from opposition parties. While acknowledging the right to dissent, Anwar stressed that such disagreements should not undermine the government's broader initiatives, specifically its efforts in raising issues related to Gaza. This appeal highlights the government's desire to maintain focus on its international and domestic priorities without undue political interference.
Details of the MAHB Acquisition Consortium

The MAHB acquisition is being undertaken by the Gateway Development Alliance (GDA) consortium. GIP, a prominent infrastructure investor managing approximately US$112 billion in assets for global institutional investors, is a key partner in GDA. The consortium also includes Malaysian entities Khazanah Nasional Bhd, through its subsidiary UEM Group Bhd, and the Employees Provident Fund (EPF). GDA formally announced a pre-conditional voluntary offer on May 15, 2024, to acquire the remaining MAHB shares at RM11.00 per share, a transaction valued at RM18.4 billion. GIP has also reiterated that its parent company, BlackRock Inc, has not been involved in this specific privatisation transaction.

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Why is Umno backing the MAHB deal despite internal dissent?

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