I WAS going to write on Novo Nordisk, but as my fellow columnist Marlen Ronquillo wrote about them in a context different from mine, let me leave that for another week. My apologies if the implementing rules and regulations on Maharlika were released after I submitted this column, and the points I made are addressed.
What is another deal-breaking problem with the Maharlika Fund? Which could have easily been addressed if they weren't in such a rush, consulted with people in the know, and studied and reflected on the law before passing it. Investors who, as of now, are limited to the Development Bank of the Philippines (DBP) and Land Bank of the Philippines (LandBank) can enter by investing their equity. But what are the rules for exiting the investment? Nada. It is a one-way street with a dead end. No exit.
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