To boost the national government’s response to the ongoing energy crisis, the state-run Maharlika Investment Corp. (MIC) has remitted ₱1.38 billion in cash dividends to the Bureau of the Treasury (BTr). This remittance represents 75 percent of the fiscal year (FY) 2025 net earnings of the...
State-run Maharlika Investment Corp. (MIC), which manages the country ’s first sovereign wealth fund (SWF), has exited its bridge loan investment in Makilala Mining Co. Inc. (MMCI), generating an estimated 25-percent annualized return in peso terms while paving the way for additional foreign...
President Marcos on Friday, June 5, inspected the ongoing rehabilitation of the Maharlika Highway in Samar, saying the project will improve connectivity, reduce transport costs, and spur economic opportunities across the country. The President visited the road rehabilitation site in Pinabacdao,...
The Philippines is planning to establish its first state-owned strategic fuel stockpile, aiming to double the nation 's energy buffer to 60 days to insulate the economy from global supply shocks, the Department of Energy (DOE) said. In an interview, Energy Secretary Sharon Garin said the...
State-run Maharlika Investment Corp. (MIC), which manages the country ’s first sovereign wealth fund (SWF), has signed a cooperation agreement with key government energy agencies to modernize and rehabilitate the aging power transmission system of Mindoro Island, with officials aiming to...
State-run Maharlika Investment Corp. (MIC), which manages the country’s first sovereign wealth fund (SWF), grew its total comprehensive income by 2.3 percent to ₱2.74 billion last year from ₱2.68 billion in 2024 as business income rose despite higher expenses. Based on MIC’s latest...
State-run Maharlika Investment Corp. (MIC) has extended up to ₱15 billion in short-term financing to Ramon S. Ang-led Petron Corp., the country’s lone remaining oil refinery, to boost the firm’s working capital for fuel purchases. In a statement on Thursday, May 14, the country’s sovereign...
Already the fastest growing sport in the country, pickleball – the racquet sport that combines elements of tennis, table tennis and badminton – is set for a major breakthrough in the Philippines with the launch of the Maharlika Pilipinas Pickleball Tour (MPPT) later this year. Similar to what...
The Maharlika Investment Corp. (MIC), the country’s sovereign wealth fund manager, has moved to exit its initial position in a key mining venture by transferring a ₱600 million loan facility to an Indian industrial group, the fund’s first significant capital recycling move. According to the...
With Iran announcing the reopening of the Strait of Hormuz and a possible war deal finally taking shape, the Philippine government’s so-called “energy emergency response” now appears to be a dithering strategy. It looks more like the state sprinted into a trap door—akin to buying a fire...
The Maharlika Investment Corp. (MIC) is shifting its strategy for the Philippines’ planned strategic petroleum reserve, opting to finance storage infrastructure rather than purchasing fuel to avoid exposure to volatile global commodity prices. Rafael D. Consing Jr., MIC president and chief...
The flight from Manila to Masbate is a quick 70-minute jump. But on this trip last Monday, April 13, for the 30th Rodeo Festival, the passenger list was a bit more exclusive than usual. First Lady Liza Araneta-Marcos headed to the country’s rodeo capital at the invitation of Maloli...
