Maharlika nets P629 million in Q1

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June 16, 2026 | 12:00am

MANILA, Philippines — The Maharlika Investment Corp. (MIC) posted a net income of P629 million in the first three months, marking a strong start for the sovereign wealth fund manager.

According to its unaudited quarterly financial statement as of end-March, MIC posted a profit of P628.85 million in the first quarter, following the P2.36 billion full-year net profit booked last year.

It also recorded P1.32 billion in total comprehensive income in the first quarter, nearly half of the P2.74 billion it reported for the whole of 2025.

Maharlika also reported total assets of P129.48 billion in the first quarter.

“Perhaps the most notable development was the growth of Maharlika’s investment portfolio,” US-based fund manager and analyst Eric Jurado said.

He noted that financial assets classified as Fair Value Through Other Comprehensive Income stood at P10.25 billion in the first quarter, up from P4.77 billion as of end-2025, a 115-percent increase in just three months.

MIC’s cash and cash equivalents stood at P68.12 billion. In addition, MIC also generated P651.42 million in interest income and P35.33 million in dividend income during the quarter, while maintaining liabilities of P272.6 million.

Maharlika’s total equity stood at P129.2 billion.

“For investors, policymakers and citizens, the results suggest that Maharlika is beginning to transition from capital accumulation to active investment deployment,” Jurado said.

“While still in its early years, the fund appears to be building the foundations of a sovereign investment institution focused on capital preservation, income generation and long-term value creation,” he added.

The data presented remain unaudited and are subject to review and final adjustment by the Commission on Audit.

In a separate report, Maharlika said it turned over P1.37 billion in cash dividends to government coffers, representing 75 percent of its net earnings in 2025.

The remittance, coursed through the Treasury, is well above the 50 percent minimum dividend mandated under Republic Act 7656 for state-run agencies.

MIC said its board approved the higher payout in recognition of the government’s urgent need for resources to respond to the national energy emergency stemming from the US-Iran war.

“This remittance reflects MIC’s continued commitment to responsible stewardship of public resources and support for the National Government’s priorities,” MIC president and CEO Rafael Consing Jr. said.

Consing added that the fund is working to contribute additional resources while continuing to pursue its mandate of generating “sustainable returns” for the country.