THE Maharlika Investment Corp. (MIC) is targeting P3.3 billion in core net income this year as it seeks to deploy up to P35 billion in capital, its officials announced.
MIC President and CEO Rafael Consing Jr. said the state-run fund remains confident of hitting its 2026 net income target, with its growing investment portfolio contributing more to earnings.
“Our projected dividends coming from investees have come to fruition,” Consing told reporters.
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.
MIC acquired SGP shares at P11.46 apiece; the stock was valued at P28.50 as of June 30.
Consing said interest income from MIC’s fixed-income investments and dividends from investee firms are key earnings drivers.
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).
Since MIC holds a board seat at ATI, it can now recognize its proportional share of the company’s earnings under International Financial Reporting Standards.
“It means we now own 11.9 percent of the earnings of ATI, which is now going to be found in our net income,” Consing said.
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, Conching added.
MIC is conducting due diligence on other potential deals, including in agriculture, where investments could range from P5 to P10 billion, Consing 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.
