It was later renamed as Mabuhay Investment Corporation (MIC) and became a holding company owned by PLDT.

[2] Founded on 10 November 1994 bearing the name Mabuhay Philippine Satellite Corporation (MPSC), the company was established primarily to build, own, operate and maintain an international satellite facility and other forms of telecommunications equipment that are capable of providing telecommunications and broadcasting on a domestic and international level.

[4] The majority of the board of directors agreed, at a meeting held on April 10, 2003, to eliminate the word "Philippines" from the company's name, as the company was set to be the ideal satellite operator internationally, not only within the Philippines.

Its control station was located at the MPSC Space Center in the Subic Bay Freeport Zone.

The spacecraft was launched by the Long March 3B in its first successful flight and currently orbits at 146°E longitude.