{"id":107252,"date":"2024-03-17T00:00:00","date_gmt":"2024-03-17T00:00:00","guid":{"rendered":"http:\/\/malaysiantribune.com\/?guid=1f114d586a691dd7423f7bc886530028"},"modified":"2024-03-17T00:00:00","modified_gmt":"2024-03-17T00:00:00","slug":"mic-eyes-investment-in-agro-industries","status":"publish","type":"post","link":"https:\/\/malaysiantribune.com\/mic-eyes-investment-in-agro-industries\/","title":{"rendered":"MIC eyes investment in agro-industries"},"content":{"rendered":"
\nMANILA: The Maharlika Investment Corporation (MIC) is currently exploring possible investments in agro-industries.<\/p>\n
“MIC is interested to invest in agro-industry. They are considering coco oil mills among others. But no details as of now. It’s a work in progress,” Department of Finance (DOF) Secretary and MIC chairperson Ralph Recto said in a Viber message on Sunday.<\/p>\n
The MIC Board had its fifth board meeting on March 14, presided over by Recto and MIC president and chief executive officer Rafael Consing Jr.<\/p>\n
During the meeting, the MIC Board approved discussions with the DOF-Privatization Management Office to explore investment opportunities in government assets, particularly in coconut mills and refineries.<\/p>\n
In a separate text message, Consing said while MIC is “investigating strategic opportunities in the agri sector,” the MIC will most likely make its first investment in the energy sector.<\/p>\n
“Based on our ongoing discussions and the timing thereof, I believe the first announcements will be power-sector-rel
\nated,” he said.<\/p>\n
The MIC is responsible for the overall governance and utilization of the Maharlika Investment Fund for investments in transactions to optimize returns on investments.<\/p>\n
Its aim is to tap state assets for investment ventures to generate more revenues for public funds.<\/p>\n
Consing earlier said that energy security is one of the MIC’s sectors of focus.<\/p>\n
He said the MIC is focusing on renewable energy, new sources to diversify supply and create price stability, grid modernization, and electricity distribution.<\/p>\n
Source: Philippines News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
MANILA: The Maharlika Investment Corporation (MIC) is currently exploring possible investments in agro-industries.<\/p>\n
“MIC is interested to invest in agro-industry. They are considering coco oil mills among others. But no details as of now. It’s a work …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\n