Maharlika eyes investing in energy, connectivity, roads

Katrina Domingo

ABS-CBN News

<p style="margin-bottom:0px;line-height:normal">MANILA — The Maharlika Investment Corp (MIC) is hoping to have its investment and risk management framework approved this week, MIC president and chief executive officer Rafael Consing Jr. said on Tuesday.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">Consing did not give details of the framework that is expected to be signed on July 18, but noted that the MIC would only invest domestically until it sees a surplus in assets.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">“Kapag kumikita na yung kumpaniya at mayroon nang mga excess, at saka na natin puwedeng ilabas sa Pilipinas,” Consing told state television PTV.</p><div style="margin-bottom:0px;line-height:normal"><br/></div><p style="margin-bottom:0px;line-height:normal">(When the company is making money and there is excess, that&#x27;s when we can look at investments abroad)</p><div style="margin-bottom:0px;line-height:normal"><br/></div><div style="margin-bottom:0px;line-height:normal"><a href="https://news.abs-cbn.com/business/2024/2/19/maharlika-investment-fund-to-make-first-investment-by-q4-1934">READ: Maharlika Investment Fund to make first investment by Q4</a></div><div style="margin-bottom:0px;line-height:normal"><br/></div><p style="margin-bottom:0px;line-height:normal">The MIC has so far pooled P75 billion from the Land Bank of the Philippines and the Development Bank of the Philippines, the fund’s CEO said.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">Among the MIC’s priority investments are in the renewable energy sector, Consing said, noting that they seek to strengthen small power utilities groups, or energy cooperatives that have yet to be connected to the country’s main power grid.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">“Ang primary driver po ng progress ay power. Bago po ang lahat ay power po muna,” he said.</p><div style="margin-bottom:0px;line-height:normal"><br/></div><p style="margin-bottom:0px;line-height:normal">(Power is the primary driver of progress. Before everything else, we need power)</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">“Kapag binigyan niyo ng kuryente yung isang tao… tumataas po yung kaniyang income and expenditure by 55 percent and 57 percent respectively,” he said.</p><div style="margin-bottom:0px;line-height:normal"><br/></div><p style="margin-bottom:0px;line-height:normal">(When you give people access to power, their income and expenditure go up by 55 percent and 57 percent, respectively)</p><div style="margin-bottom:0px;line-height:normal"><br/></div><div style="margin-bottom:0px;line-height:normal"><a href="https://news.abs-cbn.com/business/01/04/24/maharlika-identifies-industries-for-potential-investment">READ: Maharlika identifies industries for potential investment</a></div><div style="margin-bottom:0px;line-height:normal"><br/></div><p style="margin-bottom:0px;line-height:normal">The MIC also hopes to invest in projects that would improve the country’s connectivity and broadband infrastructure, Consing said.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">Aside from energy and connectivity, another “thematic sub fund” will be created for investments in the Philippines’ road networks, he said.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">Thailand has about 10,000 kilometers of roads for every 1 million people in the country, while Indonesia boasts of 4,000 kilometers per 1 million citizens, he said.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">The Philippines, on the other hand, only has 1,900 kilometers pero 1 million people in the country, he said.</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">“It tells you na kailangan pang gumastos (we still need to spend more) for physical infrastructure.”</p><div style="margin-bottom:0px;line-height:normal;min-height:15px"><br/></div><p style="margin-bottom:0px;line-height:normal">The MIC hopes to start its investment operations before the end of the year.</p><div style="margin-bottom:0px;line-height:normal"><br/></div><div style="margin-bottom:0px;line-height:normal"><strong>RELATED VIDEO</strong></div><div style="margin-bottom:0px;line-height:normal"><br/></div><div style="margin-bottom:0px;line-height:normal"><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/mYQ8VNvSseE?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The Maharlika Investment Corp (MIC) is hoping to have its investment and risk management framework approved this week, MIC president and chief executive officer Rafael Consing Jr. said</p>

The Maharlika Investment Corp (MIC) is hoping to have its investment and risk management framework approved this week, MIC president and chief executive officer Rafael Consing Jr. said

Maharlika Investment Corp eyes investing in energy, connectivity, roads | ABS-CBN

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Maharlika Investment Corp eyes investing in energy, connectivity, roads

Maharlika Investment Corp eyes investing in energy, connectivity, roads

Katrina Domingo,

ABS-CBN News

Published Jul 16, 2024 05:25 PM PHT

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