The Maharlika Investment Corp. (MIC), the Philippines’ first sovereign wealth fund, is poised to make its inaugural investment in the energy sector this quarter, MIC President and CEO Rafael D. Consing Jr. announced. Established in July 2023, MIC received initial seed capital of PHP75bn (USD1.287bn) from the Development Bank of the Philippines and the Land Bank of the Philippines. Since its inception, MIC has earned PHP2.3bn in interest income and has been preparing its governance and operational frameworks. The fund plans to invest in critical areas such as energy, food security, healthcare, and resource development, with a focus on building transmission lines in Mindoro and Palawan. MIC’s strategic plan is set for board approval on January 9.