After 13 years on the board, tycoon Roberto Coyiuto Jr. has stepped down from Synergy Grid & Development Phils. Inc. (SGP) as the company enters a crucial phase in its talks with the Maharlika Investment Corp. (MIC).
Maharlika Investment Corp. (MIC) has pulled off its latest power move, bringing veteran dealmaker Stephen “Stevie” CuUnjieng as an independent director.
The Maharlika Investment Fund has secured guaranteed dividends from its stake in National Grid Corp. of the Philippines (NGCP), via listed Synergy Grid, with a step-up feature promising even higher payouts after three years if shares remain unconverted.
The head of the country’s first sovereign wealth fund is finalizing one of its first deals, dubbed the One Mindoro Power project, which seeks to solve intermittent energy issues and unlock business potential on the island off the southwestern coast of Luzon.