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'Business as usual' for state firms

Manila Bulletin

May 30, 2025

Despite the wave of courtesy resignations from heads of government-owned and/or -controlled corporations (GOCCs), it's business as usual for officials and key agencies, including the Department of Agriculture (DA), according to top officials.

- By DERCO ROSAL and DEXTER BARRO II

Maharlika Investment Corp. (MIC) President and Chief Executive Officer (CEO) Rafael Jose Consing Jr. first confirmed to Manila Bulletin on Thursday, May 29, that he and the MIC board have submitted their resignations following President Ferdinand Marcos Jr.'s directive to assess GOCC leadership.

"I have submitted my unqualified courtesy resignation," Consing said, adding they will "continue to diligently perform our respective duties" unless told otherwise.

As Manila Bulletin reported earlier, MIC, which manages the Philippines' first sovereign wealth fund (SWF), is eyeing to seal up to P37 billion in investments just two years into its establishment.

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