The Maharlika Investment Corp. (MIC) deliberated on the strategic direction of the fund, with Finance Secretary Ralph G. Recto assuming the role of the new chairperson.
The Department of Finance (DOF) reported that on Friday, Jan. 26, Recto chaired the second board meeting of the MIC.
Last Jan. 7, MIC President and Chief Executive Officer Rafael Consing Jr. said the fund plans to invest in the country’s energy sector, particularly in the National Grid Corporation of the Philippines (NGCP).
Present during Friday’s board meeting were Consing; MIC Directors Vicky Castillo L. Tan, German Q. Lichauco II, Andrew Jerome T. Gan, and Roman Felipe Reyes; Land Bank of the Philippines PCEO Lynette V. Ortiz; and Development Bank of the Philippines PCEO Michael O. de Jesus.
The MIC’s Advisory Body was also present, represented by Budget Secretary Amenah F. Pangandaman and Officer-in-Charge National Treasurer Sharon P. Almanza.