Maharlika Investment Corporation Supports Asian Terminal Inc’s Delisting; ATI Shareholders Elect MIC PCEO as Incoming Board Member

Maharlika Investment Corporation (MIC) confirmed that its President and Chief Executive Officer, Rafael Jose D. Consing Jr., was elected by shareholders as an additional member of the Board of Directors of Asian Terminals, Inc. (ATI) during the company’s recent special stockholders’ meeting.

Mr. Consing’s assumption to the Board will proceed upon the completion of key transaction and regulatory steps associated with ATI’s planned transition to private ownership.  These include successful completion of the tender offer for ATI’s public float  shares, the completion of ATI’s voluntary delisting from the Philippine Stock Exchange (PSE), and the approval by the Securities and Exchange Commission (SEC) of the amendment of ATI’s articles of incorporation to allow for a ninth board seat.

Mr. Consing brings over 20 years of experience in infrastructure finance, capital markets and corporate leadership.  He has previously held senior executive roles in a major global port operator where he oversaw treasury, funding strategy and investor relations, and now heads MIC’s mandate to deploy long-term capital into high-impact sectors critical to national development.  

Supporting ATI’s Long-Term Growth

MIC’s participation through the planned tender offer reflects its focus on investing in critical infrastructure that underpins national economic development.  Ports play a central role in strengthening trade efficiency, enhancing supply chain resilience and supporting long-term competitiveness.  

“One of Maharlika’s key pillars is in transportation and logistics infrastructure,” MIC President and CEO Consing said in a statement. “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 added.

ATI serves as a profitable, cash-generative port infrastructure operator with a strong balance sheet and a consistent dividend history. It operates a high-barrier asset that is critical to Philippine logistics and inextricably linked to GDP growth.

“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,” Consing concluded.

Tender Offer Framework

MIC’s tender offer price of P36.00 represents a 49% premium over ATI’s one-year volume-weighted share price as of 12 December 2025. The offer price falls within the valuation range provided in an independent Fairness Opinion by a third-party financial institution, Multinational Investment Bancorporation (MIB) Capital. MIB is a Makati-based financial services firm specializing in investment banking, securities underwriting, and advisory services.

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 PSE and SEC rules.
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MIC manages the Maharlika Investment Fund and is mandated to generate sustainable returns through strategic investments that contribute to long-term national development and economic resilience.