GSIS raises stake in Megawide to 9.5%
State-run Government Service Insurance System (GSIS) has increased its stake in Megawide Construction Corp. to 9.5 percent after acquiring nearly 112 million shares through a series of block transactions, strengthening its position as one of the company’s largest local institutional investors.
The construction and engineering company said on Wednesday that GSIS bought a total of 111.94 million common shares, bringing the pension fund’s holdings to 191.71 million shares.
Megawide said the investment reflects GSIS’ confidence in its long-term prospects and nation-building initiatives.
Megawide chair and CEO Edgar Saavedra described the investment as another “vote of confidence” in the company’s vision of engineering a “first-world Philippines,” particularly through projects undertaken with the government and under public-private partnership arrangements.
“Specifically, this includes our participation in the construction of socialized housing units under the expanded 4PH program using mechanized and modernized techniques anchored on the precast system,” Saadvera said.
“In addition, we are also rolling out several transport-centric developments or TCDs that will modernize and organize public transport systems in the country, with the objective of enhancing safe and efficient travel and commuting,” he added.
Megawide noted that the latest investment follows an earlier partnership forged with state-run Pag-IBIG Fund in September 2025.
Backed by the Department of Socialized Housing and Urban Development, the partnership covers the construction of more than 7,000 socialized housing units under the expanded 4PH program.
According to Megawide, GSIS’ increased investment further underscores government support for its infrastructure and housing projects while reinforcing confidence in its value-creation strategy.
The company also highlighted progress under its upgraded “4-D” strategy this year.
In the first quarter, Megawide posted a 24-percent increase in net income to P265 million under its “deliver” pillar. It also reduced short-term obligations by about P7 billion as part of its “de-lever” initiative.
