Manila Water

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Manila Water
Private (PSE: MWC)
Founded Quezon City, Philippines
Headquarters Quezon City, Philippines
Key people
 Fernando Zobel de Ayala, Chairman
Gerardo Ablaza, President and CEO
Products Water Delivery
Sewerage and Sanitation
PHP3.23 billion (Increase16%) (2009) [1]
Slogan Care in Every Drop
Website www.manilawater.com
File:Manila Water logo.svg
Logo used from 1997-2013

The Manila Water Company, Inc. is the sole provider of water and wastewater services to more than six million people in the East Zone of Metro Manila. It is a subsidiary of the country's oldest conglomerate Ayala Corporation in partnership with British and Japanese investors.

Incorporated on January 6, 1997, Manila Water, as it is more commonly known, commenced operations on January 1, 2000, and became a publicly listed company on March 18, 2005. It is the east concessionaire of Metropolitan Waterworks and Sewerage System during its privatization on August 1, 1997, with its counterpart Maynilad Water Services, Inc. as the west concessionaire. The 25-year water concession agreement inked with MWSS is expected to terminate in 2022.

History

Manila Water is a subsidiary of Ayala Corporation, the Philippines's oldest conglomerate, in partnership with British and Japanese investors.[citation needed] Incorporated on January 6, 1997, Manila Water started operations on January 1, 2000, and became a publicly listed company on March 18, 2005. Since the Metropolitan Waterworks and Sewerage System (MWSS) privatization on August 1, 1997, it is the east concessionaire and the Maynilad Water Services, Inc. the west concessionaire. The 25-year water concession agreement inked with MWSS is expected to terminate in 2022. On December 12, 2007, Bulacan and the Metropolitan Waterworks and Sewerage System (MWSS) signed an agreement for the development of a ₱11-billion bulk water supply project. It was reported[when?] that Manila Water would implement the project. MWSS and Manila Water would provide a financial package of an infrastructure grant, a P10-million development assistance and a ₱10-million royalty fee to the towns of Norzagaray and Doña Remedios Trinidad, which would host the water supply project.[1]

In 2009, Manila Water acquired ownership of the company that supplies water to growth areas in Laguna, south of Manila. Through its wholly owned subsidiary AAA Water Corp (AWC), Manila Water gained a 70% stake in Laguna AAA Water Corp, a joint venture between the provincial government of Laguna and AWC. The joint venture company serves the cities of Santa Rosa, Biñan and Cabuyao, where several international businesses including Nestle, Ford, and Coca-Cola, and major industrial parks, are located.[2]

In 2010, Manila Water and the Philippine Tourism Authority, a government agency, formed a joint venture called Boracay Island Water Co., Inc. With an initial capitalization of ₱300 million (approximately US$6.5 million) and a 25-year concession agreement, the company has been tasked to develop, operate, and manage the water and sewerage system of the Philippines' most popular tourist spot.[3]

The company has expanded operations elsewhere in the Asia-Pacific region, with management contracts and/or investments in Vietnam[4] India[citation needed] and Australia.[5]

In February 2012, Manila Water disclosed that its consortium with partners Viscal Development Corp. and Stateland Inc. was awarded the bulk water system project of Cebu in the northern and central areas of the province. The provincial government of Cebu and the consortium were to jointly undertake the project with 49 percent and 51 percent equity, respectively.[6]

Water Source

Lua error in package.lua at line 80: module 'strict' not found. Angat Dam is a concrete water reservoir embankment dam to produce hydroelectricity that supplies the Manila metropolitan area water. It was a part of the Angat-Ipo-La Mesa water system. The reservoir supplies about 90 percent of raw water requirements for Metro Manila through the facilities of the Metropolitan Waterworks and Sewerage System. It irrigates about 28,000 hectares of farmland in the provinces of Bulacan and Pampanga.

Service Areas

Manila Water's service areas, in blue.

Manila Water today serves over 6 million customers in its concession area:[7]

In 2009, its 25-year concession agreement with the Metropolitan Waterworks and Sewerage System was extended by another 15 years.[8]

Social Responsibility

As soon as it took over its concession area, Manila Water developed a program to provide potable water at affordable rates to urban poor communities. Called "Tubig Para Sa Barangay" (Water for the Community, or sometimes, Water for the Poor), the program now benefits 1.6 million residents. Over the years, it also developed complementing programs for water supply and sanitation in public schools, public markets, city jails, hospitals, and orphanages. It also has an educational program called "Lakbayan" or "Water Trail" to brief stakeholders on the water supply chain.[9]

In 2004, Manila Water created a Sustainable Development Cluster, an internal committee to oversee the company's sustainable development agenda. In 2005, it became the first Philippine company to publish a Sustainability Report following Global Reporting Initiative guidelines. Other subsidiaries of Ayala Corporation would soon follow its example to make public their commitments to measure, report, and improve performance on sustainability indicators on economic, environment, and labor practices.[10]

Ownership structure

  • Ayala Corporation - 32.07%
  • Mitsubishi Corporation - 8.31%
  • International Finance Corporation - 6.04%
  • First State Investment Management (UK) Limited,
  • First State Investment International Limited, and
  • First State Investment (Hong Kong) Limited - 9.7%
  • Philwater Holdings Company, Inc.

Sister water companies

  • Manila Water International Solutions, Inc
  • Manila Water Total Solutions, Corp.
  • Manila Water Asia Pacific, Pte. Ltd.
  • Manila Water South Asia Holdings, Pte. Ltd.
  • AAA Water Corporation
  • Laguna AAA Water Corporation
  • Northern Waterworks and Rivers Cebu, Inc.
  • Boracay Island Water Company, Inc.

See also

References

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External links

  1. ↑ Bulacan govt, MWSS ink deal on bulk water supply project Archived May 15, 2011 at the Wayback Machine ABS-CBN News
  2. ↑ CHERYL ARCIBAL (21 July 2009 "Manila Water acquires Laguna water supplier", GMANews.tv
  3. ↑ Zinnia B. Dela Peña (18 January 2010) "Manila Water, PTA tie up for Boracay water project", The Philippine Star.
  4. ↑ "Ho Chi Minh Project" Archived July 14, 2011 at the Wayback Machine Disclosure to the Philippine Stock Exchange, July 3, 2008
  5. ↑ "Manila Water in Australia", Manila Standard Today, May 12, 2010[dead link]
  6. ↑ Riza Olchondra (February 6, 2012) "Manila Water bags P700M Cebu water project" Philippine Daily Inquirer
  7. ↑ "President's Report", Manila Water 2009 Annual Report, p. 4.
  8. ↑ "President's Report", Manila Water 2009 Annual Report, p. 5
  9. ↑ "Message from the Chairman and President", Manila Water 2009 Sustainability Report, p. 4.
  10. ↑ "Reporting to Stakeholders", Stakeholder engagement: A good practice handbook for companies doing business in emerging markets, International Finance Corporation-World Bank, May 2007, pp. 95-96.
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