Maharlika Investment Corp. Targets P2.5 Billion to P4 Billion Across Four Sectors

Maharlika Investment Corp. plans to invest as much as P4 billion in the coming months, with two to three additional investments worth a combined P2.5 billion to P4 billion under consideration, President and CEO Rafael Jose Consing Jr. said. The Inquirer reported the plan on November 6, 2026.

Maharlika's P2.5 Billion to P4 Billion Pipeline

Consing said at a press conference on Thursday that the state-owned firm was considering the investments across utilities, infrastructure, industry and agriculture. He did not identify the prospective investees. The company would stagger its payments rather than commit the full amount upfront, he added.

"As much as possible, when we invest, it's not the entire 100 percent right away," Consing said, adding that the MIC also had an investment plan for 2027.

The planned investments come as the MIC reports stronger earnings. Net income rose 24 percent to P2.18 billion in the first nine months of the year from the same period in 2025, according to its financial results. Revenues grew 17 percent to P2.41 billion, while expenses declined 18 percent to P269 million, largely because of lower taxes and management fees.

The MIC said the results reflected "a significant shift toward earnings from active investments." Treasury income accounted for 31 percent of total revenues in the January-to-September period, up from just 2 percent a year earlier.

Since the start of the year, the MIC has invested P18.77 billion across various sectors, bringing its cumulative capital deployment since 2024 to P24.7 billion. Most of this year's investments went toward a P15-billion working capital loan to Petron Corp. and an additional P3.68 billion in cash payments for shares in Asian Terminals Inc.

Synergy Grid & Development Phils. Inc., the parent company of the National Grid Corp. of the Philippines, contributed P70.7 million in MIC's dividend income. MIC also confirmed that it would not proceed, for now, with the remainder of its proposed investment in SGP. The company previously signed an agreement to acquire a 20-percent stake in NGCP, the country's privatized electricity transmission operator.

"The MIC's decision follows its continuing evaluation of the proposed transaction, as its terms developed over the course of detailed negotiations," the MIC said.

Maharlika's Available Funds and Prior Returns

According to akta.pro company records, Maharlika Investment Corporation has P68 billion in available funds and intends to serve as capital provider for energy infrastructure projects. The same records show the MIC posted P2.68 billion profit in its first year of operations in fiscal 2024 and remitted P1.376 billion in cash dividends to the National Government, representing 75 percent of fiscal 2025 net earnings and exceeding the 50 percent minimum dividend requirement.

Maharlika's Deals Before the New Pipeline

In August 2026, the Philippine Department of Energy said it was targeting completion of a P19.7-billion transaction in which the MIC acquires a 20-percent stake in Synergy Grid & Development Phils. Inc., which controls the National Grid Corp. of the Philippines, the Inquirer reported. BusinessWorld Online reported the department hoped to finalize the investment within the year.

On November 5, 2026, BusinessWorld Online reported that the MIC posted third-quarter net income of P941 million, up 49 percent, with revenue rising 42.7 percent to P1.03 billion. Consing said active investments then contributed 50 percent of revenue and expected two to three more deals before year-end.

Consing's Term Ends November 23

RAPPLER reported on November 5, 2026, that Joel Consing will end his term as Maharlika Investment Corporation president on November 23, with no successor announced.