Engineering and infrastructure firm Megawide Construction Corporation plans to raise ₱3 billion from its second preferred share issuance this year, as it aims to more than double its order book to a record ₱48 billion.

During the firm’s annual stockholders’ meeting, Megawide Chief Finance Officer Jez G. de la Cruz said they plan to offer the preferred shares in the last quarter of the year and will no longer tap the capital market in 2026.

The company will use half of the proceeds to refinance the company's requirements, while the balance will be allocated to fund business development initiatives as well as general corporate purposes.

“Covering these plans also includes 2026 requirements, so Megawide will not be going back to the capital markets next year,” De la Cruz said.

Meanwhile, Megawide Chairman and CEO Edgar B. Saavedra said they expect the company’s order book to return to an all-time high of almost ₱50 billion by the end of the year, from its current backlog of ₱40 billion, which is “a bit low.”

“We are expecting ₱10 billion worth of projects to be awarded to us within the month and then I am expecting another ₱10 billion in the next two months,” he said noting that this is minus about ₱12 billion that will already be recognized as revenues.

Saavedra said the company may also participate in the government’s 4 PH program or Pambansang Pabahay Para sa Pilipino, to raise its order book. Under the program, the government will be providing affordable housing, particularly for government employees, such as teachers, policemen and local government unit employees.

He said Megawide was approached by the government which asked for its help in supporting the program.

“We think that this project can be viable. So we will enter or participate in these projects because we see the the impact it can generate to the company by giving high order book to the construction and our precast production...we will participate and we will expect to do significant projects for these Four PH,” Saavedra said.