Maharlika Investment Corp. Targets P3.3 Billion Core Profit by 2026

MANILA, Philippines — Maharlika Investment Corp. (MIC) is banking on dividend inflows, interest income and equitized earnings from investees to deliver its P3.3-billion core net income goal for 2026, while eyeing up to P35 billion in capital deployment for investments. “I believe so,” MIC president and CEO Rafael Consing Jr. told reporters when asked if the target was achievable. “Well, we’ve been receiving our dividends already. Our projected dividends coming from our investees have come to fruition. Also, the interest income that we’re generating from our investments,” Consing said. If realized, the P3.3-billion target would mark a 39.8-percent jump from the P2.36-billion profit booked in 2025. The sovereign fund manager reported a P1.24 billion net income in the first half, alongside a P2.69 billion total comprehensive income (TCI). Maharlika said while the net income reflects its current operating performance, the TCI provides a more complete measure of financial performance as it also captures the unrealized value appreciation of its strategic investments. Amid sweeping investments in priority sectors, MIC has already delivered close to P2.8 billion in dividends. It also owns 11.9 percent of Asian Terminals Inc. (ATI), which will support its net income. “In the case of ATI, we made our final payment in January of this year. Last week, we received our first dividend of P368 million,” Consing said. The wealth fund manager also reported a 105-percent annual internal rate of return from Synergy Grid & Development Phils. Inc. and generated a 32-percent annualized return on Makilala Mining exit. Currently, the MIC is partially funded by an initial capitalization of P75 billion provided by government financial institutions such as the Land Bank of the Philippines and the Development Bank of the Philippines. This leaves a P50-billion balance from the approved capitalization scheme amounting to P125 billion under the Maharlika Investment Fund Act of 2023. “Capital has been committed to us and we have made plans insofar as deployment of the capital is concerned. So, it serves the country best if the capital is in fact conveyed to us,” he said. However, the fund still has P53 billion from its initial capitalization of P75 billion. “We were aiming for P35 billion (capital deployment) this year. So there’s another P10 billion, minimum. So we’ve identified, we’re doing due diligence at the moment as we speak,” Consing added that MIC has released P24.7 billion to date, including P8 billion to ATI and is targeting an overall deployment of P35 billion this year. The MIC also said it plans to deploy about P5 billion to P10 billion for the agriculture sector this year, identified as one of the four strategic pillars joining energy, logistics and mining.