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Manila Bulletin devider Philippines devider National devider Maharlika has yet to get investments from Marcos foreign trips—MIC chief

Maharlika has yet to get investments from Marcos foreign trips—MIC chief

Published Jan 28, 2025 08:09 am

While there have been potential foreign institutions interested to invest in the country's first sovereign wealth fund, it has yet to secure any investment from President Marcos' foreign trips.

Screenshot 2025-01-28 160722.png
MIC President Rafael Consing Jr. (RTVM)

"Wala pa (Nothing so far)," Maharlika Investment Corporation (MIC) President Rafael Consing Jr. said on Tuesday, Jan. 28, when asked in an interview whether there has been investments made to the fund coming from the President's trips abroad.

"We haven't opened ourselves yet. So, you want to build the credibility first and then we will open up," Consing explained.

The MIC president and chief executive officer, however, said there has been "quite a number of queries" coming from foreign institutions. But he emphasized that the MIC needs to build its credibility first before opening up to foreign investors.

"Yes, there have been quite a number of queries coming from potential investors. But first we need to develop our track record," he said.

He also refused to divulge what sectors the potential investors are coming from but he noted that they are "global institutional investors."

Asked on how long the MIC needs to develop its track record and credibility, Consing said they are bent on accomplishing it by the end of this year.  

Consing also revealed that they are also working on multiple transactions after the MIC's maiden investment in the National Grid Corporation of the Philippines (NGCP). They are also expected to announce another investment in the next 30 days, adding that they are aiming for three to four investments this year.

"Intuitively for the year, we will aim for three to four material ones. So, more to come," he said.

Related Tags

Maharlika Investment Fund FOREIGN TRIPS RAFAEL CONSING JR President Marcos Maharlika Investment Corp. (MIC)
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