It took some time to come together, but the Maharlika Investment Corp. is now finding its stride, with its first acquisition underway and its nine-member board possibly close to being completed.
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.