MIC books P623-M net income in first quarter

PHILIPPINE sovereign wealth fund manager Maharlika Investment Corp. (MIC) posted a net income of P628.85 million in the first quarter.

The state-run investment vehicle booked other comprehensive income of P693.29 million in the January-to-March period, bringing its total comprehensive income to P1.32 billion.

Before tax, MIC’s earnings reached P628.85 million during the quarter.

This came after business income totaled P686.75 million, while operating expenses reached P78.29 million. The company also recorded foreign exchange gains amounting to P20.39 million.

As of end-March, MIC’s total assets inched up by almost 1% to P129.48 billion from P128.23 billion at end-December 2025.

Meanwhile, total liabilities fell by 21% to P272.6 million as of end-March from P345.04 million as of end December 2025.

Total equity stood at P129.2 billion as of March 31, up 1% from P127.88 billion at end-December.

2025
Meanwhile, for full-year 2025, MIC’s net income reached P2.36 billion, down 11.8% from P2.68 billion in 2024.

However, other comprehensive income surged to P379.42 million, bringing its total comprehensive income last year to P2.74 billion, 2.3% higher than the P2.68 billion recorded in 2024.

The MIC saw a 1.6% increase in business income in 2025 to P2.82 billion from P2.77 billion a year earlier. It also booked foreign exchange gains of P25.26 million in 2025.

However, operating expenses jumped by 413.9% to P478.96 million in 2025 from P93.2 million in 2024.

In a separate report, the MIC said the Department of Budget and Management approved its P35.48-billion corporate operating budget for 2026, slightly lower than the proposed P35.53 billion.

Of the approved budget, P34.86 billion was allocated for capital outlays, P425.42 million for maintenance and other operating expenses, and P193.68 million for personal services.

This leaves an excess of P93.53 billion from its total corporate funds and capitalization of P129 billion. — Justine Irish DP. Tabile