Maharlika Investment Corp. More Than Triples Capital Deployment in H1

MANILA, Philippines — The Maharlika Investment Corp. (MIC) more than tripled its capital deployment in the first half of 2026 to P18.8 billion, exceeding its total investment for the entire previous year as the state-run sovereign wealth fund ramped up investments in the logistics and power sectors. The latest deployment brought MIC’s cumulative invested capital to P24.7 billion as of end-June. READ: Maharlika extends P15B credit line to Petron to boost crude oil supply In 2025, MIC deployed P5.9 billion, meaning investments made in the first six months of 2026 alone surged 219 percent. “Our first-half performance demonstrates MIC’s rapid progress from foundation-building to active capital deployment,” MIC president and chief executive Rafael D. Consing Jr. said in a statement. “By channeling funds into critical infrastructure, energy logistics, and strategic commercial ventures, we are delivering sustainable financial returns for the Filipino people while actively supporting economic growth,” he added. Breaking down the latest deployment, MIC extended a P15-billion short-term working capital facility to Petron Corp. to finance crude oil and refined petroleum importations and operational needs. It likewise spent P4.79 billion to acquire additional shares in port operator Asian Terminals Inc. During the period, MIC also completed its first asset divestment by exiting its bridge-loan investment in Makilala Mining Co. Inc. through the assignment of its lender position, generating about a 25-percent annualized peso return. Moreover, MIC’s capital deployment from January to June generated P2.09 billion in total portfolio returns. Of this amount, P1.45 billion came from unrealized fair value changes, P439 million from dividends, P146 million from loan interest and P56 million from realized gains. Consing earlier told reporters that MIC was targeting at least P35 billion in capital deployment this year, with investments in agriculture and the Mindoro power grid in the pipeline. He further added they have around P53 billion available for capital deployment. READ: Maharlika eyes oil storage venture with PNOC to boost energy resilience Meanwhile, MIC will receive P125 billion in capital: P50 billion from the Land Bank of the Philippines, P50 billion from the national government, and P25 billion from the Development Bank of the Philippines. However, the national government has yet to remit its contribution. Despite the rapid increase in capital deployment, MIC still posted a net income of P1.24 billion in the first half. Its total assets stood at P129.5 billion as of the end of June. Interest income from cash and short-term placements reached P1.14 billion during the period, helping to offset operating expenses amounting to P170.8 million. /pai