President Ferdinand R. Marcos, Jr. signed into law Republic Act...Read More →
The MIC is mandated to act as the sole vehicle for the purpose of mobilizing and utilizing the MIF for investments in transactions in order to generate optimal returns on investments (ROIs), while contributing to the overall goal of reinvigorating job creation and accelerating poverty reduction by sustaining the economy’s high growth trajectory, while ensuring sustainable development.
The Maharlika Investment Corporation shall have an authorized capital stock of 500 billion pesos (approximately 8.9 billion dollars), the 375 billion pesos of which shall constitute common shares available for the subscription of the National Government, its agencies or instrumentalities, GOCCs or Government Financial Institutions (GFIs). The remaining 125 billion pesos in capital shall correspond to the preferred shares available for the subscription of the National Government, its agencies or instrumentalities, GOCCs or GFIs, and reputable private financial institutions and corporations.
Of the 375 billion pesos capital which correspond to the common shares, 125 billion pesos (or about 2.2 billion dollars) shall be initially subscribed by the National Government, and the two Government Financial Institutions (GFIs), the Land Bank of the Philippines and the Development Bank of the Philippines. The National Government shall contribute 50 billion pesos, while the Land Bank of the Philippines and the Development Bank of the Philippines shall contribute 50 billion pesos and 25 billion pesos, respectively. The contributions from the two founding GFIs shall be fully paid upon the incorporation of the MIC.
The 50 billion pesos contribution of the National Government to the initial capitalization shall be sourced from the following:
To increase the capitalization of the MIC, the Board of Directors of the MIC, upon recommendation of the Advisory Body, may request Congress for legislation to increase the capitalization of the MIC.
© Maharlika Fund 2023