Maharlika Investment Corp.’s Consing gets board seat in Asian Terminals Inc.

Maharlika Investment Corp. (MIC), the state-run firm managing the county’s sovereign wealth fund, on Tuesday announced that its president and chief executive officer Rafael Jose Consing Jr. was elected by shareholders of Asian Terminals Inc. (ATI) as an additional member of the ports operator’s Board of Directors.

In a statement, MIC said Consing assumption to ATI’s board will proceed upon the completion of the sovereign wealth fund’s plan to acquire a portion of the firm’s public float shares.

“One of Maharlika’s key pillars is in transportation and logistics infrastructure,” said Consing.

“Ports are the economic arteries of our nation. They are the pulse of our trade, moving the goods and ideas that fuel our growth and connecting the lives of every Filipino to the rest of the world,” he pointed out.

“This investment allows Maharlika to participate in the modernization of critical logistics infrastructure that directly supports trade, lowers costs for businesses, and improves competitiveness across the Philippine economy,” the MIC chief added.

MIC said its tender offer price of P36.00 represents a 49% premium over ATI’s one-year volume-weighted share price as of December 12, 2025. 

The sovereign wealth fund said the tender offer process is intended to provide ATI’s public shareholders with a transparent and regulated opportunity to realize value as the company transitions to a private ownership structure, in accordance with applicable Philippine Stock Exchange (PSE) and Securities and Exchange Commission (SEC) rules. — JMA, GMA Integrated News