The Market Monitor Minding the Nation's Business
The Maharlika Fund has set its eyes on a target of P3.3 billion in core net income for the year 2026.
MIC President and CEO Rafael Consing Jr. said the state-run fund remains confident of hitting its 2026 net income target, with its investment portfolio growing at a steady rate.
The MIC plans to deploy some P35 billion in capital this year.
“Our projected dividends coming from investees have come to fruition,“ Consing said.
MIC Vice President for Finance Marvin Martija said the fund posted P1.3 billion in core net income in the first half of 2026, while total comprehensive income reached P2.7 billion, driven by the rise in the fair value of its stake in SGP Global Holdings Philippines Inc.
The MIC bought SGP shares at P11.46 apiece and the stock was valued at P27.20 as of Aug. 6.
Consing said interest income from MIC’s fixed-income investments and dividends from investee firms are key drivers of revenues.
Among the newer contributors is Petron Corp., which has generated a month-and-a-half of interest income for the fund so far, Consing noted.
MIC’s portfolio is also shifting from interest and securities gains toward equity income, Consing said, citing its 11.9-percent stake in Asian Terminals Inc. (ATI).
MIC has deployed P24.7 billion this year — P16 billion in Petron and P8 billion in ATI, Consing said.
The fund had initially targeted P25 billion in capital deployment for 2026 but could exceed P35 billion if talks on additional investments succeed, Consing added.
The company continues to study the possibility of engaging in other business activities, including in agriculture, where investments could range from P5 to P10 billion, he said.
It is also proceeding with an investment in Mindoro — including an upgrade of the province’s electricity network — which could require less than P5 billion.