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...
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...
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...
Murang Kuryente Party-list Rep. Arthur Yap has suggested what he described as a "more intelligent" use of the Maharlika Investment Fund (MIF) amid the economic hardships that the country is going through due to the fuel price crisis. Yap made this pitch during the first marathon hearing of the...
Petron Corp., the only remaining oil refinery in the country, is once again open to a government takeover, potentially through a partnership with the state-run Maharlika Investment Corp. (MIC). The move comes as the Ramon Ang-led company seeks to address volatile fuel costs, though economists...
Beginning with pure profit intent, the controversial Maharlika Investment Fund has metamorphosed into a “deemed national development tool,” with income now a secondary goal. So said Stephen CuUnjieng, investment banker and chairman of the Maharlika Investment Committee, during a recent FINEX...
Maharlika Investment Corp.’s (MIC) ₱19.7-billion acquisition play for a 20 percent stake in Synergy Grid and Development Philippines Inc. (SGP), the holding gateway to transmission firm National Grid Corporation of the Philippines (NGCP), failed to close on the original schedule. This failure...
The Maharlika Investment Corp. (MIC) proudly announces that its Chief Legal Officer and General Counsel, Atty. Paul T. Salanga, has been recognized by CEO Insight Asia as one of the “Top 10 General Counsel in the Philippines - 2025.” This prestigious recognition underscores Atty. Salanga’s...
The Department of Energy (DOE) plans to look into the stalled deal between state-run Maharlika Investment Corp. (MIC) and Synergy Grid & Development Philippines, Inc. (SGP), as the transaction documents have remained unclosed for more than 90 days since they signed a binding offer. During a Senate...
Philippine sovereign wealth fund (SWF) manager Maharlika Investment Corp. (MIC) has denied circulating claims that a fraudster serves as the state-run firm’s adviser. In an Oct. 21 statement, MIC said it “unequivocally and categorically denies” that a convicted fraudster from the financing...
