MAHARLIKA Investment Corp. (MIC) reported earnings of P2.682 billion last year, up from P154.3 million a year earlier, helped by the government declaring a dividend of 75% of the earnings.
In its 2024 annual report released on Friday, MIC said it remains conservative on spending while earning interest income on its startup capital.
“Healthy interest income combined with a conservative spending approach resulted in total income of P2.68 billion in 2024,” MIC said. “This income subsequently enabled the Corporation to declare a P1.45 billion dividend in 2025, representing 75% of distributable earnings, further highlighting the Corporation’s commitment to delivering returns to the government.”
In May, the sovereign wealth fund sent 75% of P1.447 billion to the Treasury.
2024 was the first full year of operation since its establishment on July 18, 2023.
Interest income increased from P154.3 million in 2023 to P2.77 billion in 2024.
In 2024, MIC had assets of P127.254 billion, up 1.7% from a year earlier.
Cash balances increased 2.4% to P76.801 billion last year.
Liabilities declined 46.6% to P668.1 million in 2024.
MIC said the results reflected “a strong balance sheet and strong liquidity base to support future investment initiatives and strategy”.
According to its annual report, MIC acquired Synergy Grid and Development Philippines, Inc., CP Group Partnership and Makilala Mining Company, Inc. Made three investments in interim financing for.
By 2026, the MIC said it is prioritizing energy transition and security projects, physical infrastructure and innovation, food and agriculture modernisation, enhanced social infrastructure, sustainable mining and resource development as well as climate change mitigation and adaptation.
“We believe that targeted investments in these priority areas will yield significant, widespread benefits throughout the archipelago,” said Rafael D. Consing, Jr., President and Chief Executive Officer of MIC.
MIC has said it also wants to invest in five Base Conversion and Development Authority projects, including the expansion of Clark International Airport; a New Clark City affordable housing project; Clark Integrated Public Transportation System; Poro Point Port Modernization Programme; and the Clark Central Business District. , Katherine K. chan
