Philippine sovereign wealth fund Maharlika Investment Corp’s net income plunged almost 75% year-on-year to 628.85 million pesos (US$10.41 million) in January through March as business earnings plummeted more than three-quarters.
The wealth fund published the figures in an undated unaudited financial statement posted on its website. No analysis was provided. Net income declined from 2.36 billion pesos in the first quarter of 2025.
The wealth fund’s business income dived 75.65% to 686.75 million pesos from 2.82 billion pesos in the first quarter of last year.
Operating expenses shrank 83.65% to 78.29 million pesos.
Maharlika had 129.48 billion pesos of total assets at the end of March, up from 128.23 billion pesos a year ago.
