STATE-RUN pension fund Government Service Insurance System (GSIS) has increased its stake in listed builder Megawide Construction Corp. to 9.5 percent after acquiring nearly 112 million shares through a series of block transactions.
Megawide said in a statement on Wednesday that the state-owned pension fund had bought a total of 111.94 million common shares, raising its holdings to 191.71 million shares and making the GSIS one of the company's major local institutional investors. No financial figures were disclosed.
Megawide Chairman and CEO Edgar Saavedra said the GSIS investment reflected confidence in the company's long-term strategy and participation in government infrastructure and housing projects.
"The investment of GSIS reflects another vote of confidence in our vision of engineering a First-World Philippines, particularly through our participation in various government-initiated campaigns and public-private partnerships that aim to address critical social and transport infrastructure in the country," Saavedra said.
He said the company continues to participate in the government's expanded Pambansang Pabahay Para sa Pilipino (4PH) program through the construction of socialized housing units using precast construction technology.
"Specifically, this includes our participation in the construction of socialized housing units under the expanded 4PH program using mechanized and modernized techniques anchored on the precast system,” Saavedra said.
“In addition, we are also rolling out several transport-centric developments that will modernize and organize public transport systems in the country, with the objective of enhancing safe and efficient travel and commuting."
Megawide said it partnered with state-run Pag-IBIG Fund in September 2025, upon the endorsement of the Department of Socialized Housing and Urban Development, to build more than 7,000 socialized housing units under the government's expanded 4PH program.
The company further said earnings had improved under its “4-D” strategy, with net income in the first quarter touching P265 million and its short-term obligations cut by around P7 billion. It also cited continued expansion of its precast construction and transport-centric development businesses.
Earlier this month, Megawide declared a cash dividend of P0.145 per share, payable on Aug. 7, 2026, to stockholders on record as of July 23.
Megawide shares on Wednesday slipped P0.07, or 1.67 percent, to close at P4.12 each amid a 1.04-percent drop for the benchmark Philippine Stock Exchange index.
