THE LAW that grants Maynilad Water Services, Inc. its franchise will take effect on Jan. 22, 2022, the water concessionaire’s listed shareholders said on Monday, giving it until early 2027 to list its shares on the stock exchange. READ:
In separate disclosures, DMCI Holdings, Inc. and Metro Pacific Investments Corp. said they had been notified of the publication on Jan. 7, 2022 of Maynilad’s franchise or Republic Act No. 11600.
DMCI Holdings and MPIC respectively owns 27% and 52.8% of Maynilad Holdings Corp., the holding firm that owns 92.9% of the water concessionaire. Marubeni Philippines Corp. is the third member of the consortium. The concession agreement acts as the Certificate of Public Convenience and Necessity of Maynilad for the operation of its waterworks and sewerage system. It also provides that in the event the waterworks and sewerage system assets of MWSS pertaining to the franchise area are privatized by law, Maynilad has the right to match the highest compliant bid after a public bidding.
Separately, listed water concessionaire Manila Water Co., Inc. told the stock exchange on Monday of signing into law of its franchise bill or RA 11601, which grants it a 25-year franchise to establish, operate, and maintain a waterworks and sewerage system in the east zone service area of Metro Manila and the province of Rizal.
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