THE Maharlika Investment Fund said it will look into investing in broadband connectivity projects after it achieves deal closing on its previous two investments.
Asked if the sovereign wealth fund has talked with telecommunications companies about its connectivity plans, Maharlika Investment Corp. (MIC) President and Chief Executive Officer Rafael D. Consing, Jr. said: “Not yet, but once we are done closing our first two investments, we will start looking at this space.”
It announced a $75.4-million bridge loan facility for Makilala Mining Co., Inc. on Feb. 24.
It also signed a P19.7-billion deal to buy 20% of Synergy Grid and Development Philippines, Inc., giving it a foothold in the National Grid Corp. of the Philippines.
However, Mr. Consing said “it is too early to discuss” the specifics of the connectivity plan.
In a recent interview with CNN International, Mr. Consing said the main potential investment areas are “energy security, food security, mining, basically, of critical minerals, and also broadband connectivity across the nation.”
The MIC and the Thailand’s Charoen Pokphand Group Co., Ltd. also announced that it will set up a private equity fund to raise up to $1 billion for investing in agriculture and food production, digital innovation, and sustainable energy.
Mr. Consing told BusinessWorld in January that healthcare was also a priority, with preparatory work looking into the industry expected this quarter. — Aubrey Rose A. Inosante
