Maharlika has P68 billion in investible funds – Consing

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April 7, 2026 | 12:00am

MANILA, Philippines — The Maharlika Investment Corp. (MIC) said it continues to maintain P68 billion in deployable capital for future investments after releasing nearly P10 billion from its initial funding.

MIC president and CEO Rafael Consing said the fund has deployed P9.69 billion of its initial P75-billion capitalization, which was provided by state-run banks Land Bank of the Philippines and the Development Bank of the Philippines.

“Our balance remains highly robust. This is due to the strong interest income and dividends our capital has already generated,” he told The STAR in a Viber message.

Maharlika earlier reported that its interest income grew to P2.77 billion in 2024 from P154.3 million in 2023. It also declared P1.45 billion in dividends last year, representing 75 percent of its distributable earnings.

“We expect to accelerate our investment pipeline in the coming quarters, targeting our focus sectors that build national resilience and actively expand our GDP (gross domestic product),” Consing said.

The sovereign fund manager said it is hoping to close investment deals with agricultural companies within the first half of 2026.

Under its Strategy Map and Performance Scorecard, the sovereign fund manager earlier targeted to invest worth P34.94 billion in 2025. The latest document has yet to be released.

However, it has lodged investment deals since its creation in 2023, including the P19.7-billion deal with the Synergy Grid & Development Phils. Inc., aimed to lock its stake in the National Grid Corp. of the Philippines.

MIC also completed its acquisition of 101.19 million common shares in Asian Terminals Inc., with an investment amount of more than P8 billion.

Maharlika last year extended a $76.4-million mine feasibility loan to Makilala Mining Co., Inc., a subsidiary of Australia-based Celsius Resources Ltd.

In addition, Consing said the fund is pursuing partnerships with other sovereign wealth funds (SWF) after its collaboration with Saudi Arabia-backed ACWA Power.

“Exploratory discussions with SWF-backed investors are ongoing,” he said. “They remain confident in the government and the country’s ability to navigate the current global economic headwinds.”

Maharlika and ACWA Power earlier signed a memorandum of understanding to explore the development of renewable energy projects, bringing sustainable power to off-grid islands across the Philippines.

In 2024, MIC reported a net income of P2.68 billion, just a year after its creation in 2023.