Key Takeaways
- • Maharlika Investment Corp. (MIC), which manages the Philippine sovereign wealth fund, has fully drawn a P15-billion revolving credit facility with Petron Corp., with a contractual maturity of November 10, 2026, and contributed P343.3 million in interest income as of end-September.
- • MIC secured an 11.94% equity stake in Asian Terminals Inc. (ATI) in March, deploying P2.68 billion for ATI shares as of end-September and receiving P368.0 million in cash dividends.
- • MIC completed the assignment of its rights under the $76.4 million Omnibus Loan and Security Agreement with Makilala Mining Company Inc., generating a P19.7 million gain and P37 million in realized foreign exchange gains.
- • MIC confirmed on November 5 that it has deferred a proposed additional 20% stake acquisition in Synergy Grid & Development Phils Inc., while retaining its existing 1.93% stake.
- • MIC's capital deployments have posted P1.531 billion in returns and it is eyeing up to three more investments before year-end, potentially adding up to P4 billion in capital deployment.
Summary
Maharlika Investment Corp. (MIC), which manages the Philippine sovereign wealth fund, has deployed capital across lending and equity investments, according to GMA News. The largest active exposure is a P15-billion short-term revolving credit facility extended to Petron Corp. in May, which can be used solely for purchasing and importing crude oil, refined petroleum products, and related working capital. The facility was fully drawn on May 14, 2026, with a contractual maturity of November 10, 2026, and contributed P343.3 million in interest income as of end-September. MIC president and chief executive officer Rafael Consing Jr. said the facility "allows MIC to support fuel supply stability while deploying capital in a sector that is essential to the economy."
MIC formally became a shareholder of Asian Terminals Inc. (ATI) in March, securing an 11.94% equity stake in the port and logistics infrastructure operator. The shares were acquired from Seawood Resources Inc., Kayak Holdings Inc., and Asiasec Equities Inc., together with shares tendered during the tender offer, which resulted in the acquisition of 177,612,478 common ATI shares. MIC has deployed P2.68 billion for ATI shares as of end-September, recorded P292.7 million as its share of ATI's net income, and received P368.0 million in cash dividends. Consing said the investment fulfills the mandate to capture value from assets with high barriers to entry and a direct correlation to GDP growth, and that MIC's election to the ATI Board provides a seat "at the table" to ensure the asset benefits the public.
MIC completed the assignment of its rights under a $76.4 million Omnibus Loan and Security Agreement (OLSA) with Makilala Mining Company Inc. in June. The financing had supported the feasibility study and front-end engineering design of the Maalinao-Caigutan-Biyog Copper-Gold Project in the Cordillera Administrative Region, as well as early development work including main access road construction and skills-based training. The assignment generated a P19.7 million gain and P37 million in realized foreign exchange gains.
On November 5, MIC confirmed it had paused a proposed investment to acquire an additional 20% stake in Synergy Grid & Development Phils Inc. (SGP), which would have provided two board seats at SGP and two at the National Grid Corporation of the Philippines (NGCP). Consing said the terms developed over detailed negotiations, and that the agency reassessed in light of current geopolitical conditions, its investment priorities, and its responsibility for prudent stewardship of public funds. MIC will retain its existing 1.93% common share stake in SGP, which generated P70.7 million in dividend income in the first nine months of the year.
Across its capital deployments, MIC has posted P1.531 billion in returns, comprising P663 million in unrealized fair value changes, P439 million in dividends, P373 million in loan interest, and P57 million in realized gains and other items. Consing said MIC is considering up to three more investments before year-end, which could raise its total capital deployment for 2026 by as much as P4 billion. Target sectors include utilities and infrastructure, industrials, and agriculture, subject to Board of Directors approval.
MIC formally became a shareholder of Asian Terminals Inc. (ATI) in March, securing an 11.94% equity stake in the port and logistics infrastructure operator. The shares were acquired from Seawood Resources Inc., Kayak Holdings Inc., and Asiasec Equities Inc., together with shares tendered during the tender offer, which resulted in the acquisition of 177,612,478 common ATI shares. MIC has deployed P2.68 billion for ATI shares as of end-September, recorded P292.7 million as its share of ATI's net income, and received P368.0 million in cash dividends. Consing said the investment fulfills the mandate to capture value from assets with high barriers to entry and a direct correlation to GDP growth, and that MIC's election to the ATI Board provides a seat "at the table" to ensure the asset benefits the public.
MIC completed the assignment of its rights under a $76.4 million Omnibus Loan and Security Agreement (OLSA) with Makilala Mining Company Inc. in June. The financing had supported the feasibility study and front-end engineering design of the Maalinao-Caigutan-Biyog Copper-Gold Project in the Cordillera Administrative Region, as well as early development work including main access road construction and skills-based training. The assignment generated a P19.7 million gain and P37 million in realized foreign exchange gains.
On November 5, MIC confirmed it had paused a proposed investment to acquire an additional 20% stake in Synergy Grid & Development Phils Inc. (SGP), which would have provided two board seats at SGP and two at the National Grid Corporation of the Philippines (NGCP). Consing said the terms developed over detailed negotiations, and that the agency reassessed in light of current geopolitical conditions, its investment priorities, and its responsibility for prudent stewardship of public funds. MIC will retain its existing 1.93% common share stake in SGP, which generated P70.7 million in dividend income in the first nine months of the year.
Across its capital deployments, MIC has posted P1.531 billion in returns, comprising P663 million in unrealized fair value changes, P439 million in dividends, P373 million in loan interest, and P57 million in realized gains and other items. Consing said MIC is considering up to three more investments before year-end, which could raise its total capital deployment for 2026 by as much as P4 billion. Target sectors include utilities and infrastructure, industrials, and agriculture, subject to Board of Directors approval.
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