New Maharlika board directors 'good choices': economist

ABS-CBN News

MANILA -- The four newly sworn-in directors of the Maharlika Investment Corp (MIC) are good choices, an economist said Friday.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/20/23/palace-says-four-new-maharlika-directors-sworn-in">Palace says four new Maharlika directors sworn in</a></li></ul>Institute for Development and Economic Analysis (IDEA) President Alex Escucha said the board members so far represent diverse backgrounds and have solid track records.&quot;Manny Reyes founded the Reyes-Tacandong Office, and he is of course an accountant-auditor, he would be ideal to be a chair of the audit committee,&quot; Escucha said. &quot;Andrew Gan is a banker, he would be a good chair of the risk management committee,&quot; he added.&quot;Beetle (German) Lichauco is a lawyer, and would be a good head of the governance-related party transactions committee or the compliance committee,&quot; he noted.&quot;Vicky (Castillo-Tan) has a very good all-around background....she would be very well-matched with either the investment committee or the remuneration committee.&quot;The expert, however, noted that the last person to be named MIC director must have a solid background in project finance.&quot;There is one committee that is not mentioned in the law or even mentioned in the IR but is very, very important. This is the investment committee,&quot; Escucha said.&quot;As practiced globally in the other investment infrastructure funds, the composition of the investment committee, as well as the composition of the team that is doing the staff work for screening all of these investment is one of the most scrutinized building blocks of the fund.&quot;&quot;Fellow strategic investment funds, fellow pension funds, and other private investors will be looking at...whether they have the skillset, the domain knowledge, the track record to be able to screen projects over and above the screening process already done by the (National Economic and Development Authority) Board,&quot; he explained.<div>--ANC, 22 December 2023 </div>

The four newly sworn-in directors of the Maharlika Investment Corp (MIC) are good choices, an economist said.

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New Maharlika board directors 'good choices': economist

New Maharlika board directors 'good choices': economist

ABS-CBN News

Published Dec 22, 2023 03:54 PM PHT

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Updated Dec 24, 2023 02:09 PM PHT

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