{"id":145849,"date":"2018-01-12T18:14:41","date_gmt":"2018-01-12T23:14:41","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=145849"},"modified":"2018-01-12T18:14:41","modified_gmt":"2018-01-12T23:14:41","slug":"sss-sees-investment-income-hitting-p60-b-with-infra-foray","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/12\/sss-sees-investment-income-hitting-p60-b-with-infra-foray\/","title":{"rendered":"SSS sees investment income hitting P60-B with infra foray"},"content":{"rendered":"
\"said<\/a>
said the pension fund recorded an investment income of PHP30 billion in 2017 with a return of investments of only 7 percent. (PNA Photo)<\/a><\/figcaption><\/figure>\n

MANILA \u2014 State-run Social Security System (SSS) expects investment income to reach PHP60 billion, in three years, or double the PHP30 billion last year, following its participation in the infrastructure sector with the purchase of minority stake in diversified and infrastructure conglomerate Megawide Construction Corp.<\/p>\n

During the commemoration rites for the share sale Friday, SSS said it acquired 7.17-percent stake in Megawide equivalent to 110.53 million shares for PHP2.001 billion.<\/p>\n

SSS Chairman Amado Valdez, in an interview, said the pension fund recorded an investment income of PHP30 billion in 2017 with a return of investments of only 7 percent. It has investments in equities.<\/p>\n

Valdez expects return of investments to increase to 15 to 17 percent or up to PHP60 billion in three years with its entry into the infrastructure sector given the government\u2019s focus on \u201cBuild, Build, Build\u201d infrastructure program.<\/p>\n

\u201cOur entry into Megawide is highly strategic,\u201d he said. \u201cWe see investments in the infrastructure sector as viable, given the level of funding being poured by the public and private sectors into the infrastructure drive and the volume of projects across the country.\u201d<\/p>\n

Listed Megawide is among the country\u2019s leading contractors for residential, commercial, hotel and mixed-use projects. It has assets in construction, airport and property development.<\/p>\n

\u201cIt is encouraging that the SSS, the country\u2019s biggest pension fund, is willing to invest in Megawide. It is an outstanding vote of confidence in the country\u2019s vision, and we are motivated to work even harder so that we can deliver positive returns for all our stakeholders,\u201d said Megawide Chairman Edgar Saavedra.<\/p>\n

Meanwhile, the SSS and Megawide are partnering to bid for a contract to rehabilitate and operate the Ninoy Aquino International Airport (NAIA).<\/p>\n

\u201cYou don\u2019t put (people\u2019s) money just in paper asset. You can put them in stones, bridges which are beneficial,\u201d Valdez said. \u201cWe will make the pension fund rich.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2014 State-run Social Security System (SSS) expects investment income to reach PHP60 billion, in three years, or double the …<\/p>\n","protected":false},"author":33,"featured_media":109401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[30824,42929],"class_list":["post-145849","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-social-security-system-sss","tag-sss-sees-investment-income-hitting-p60-b-with-infra-foray","mauthors-leslie-gatpolintan","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/145849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=145849"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/145849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/109401"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=145849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=145849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=145849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}