Manila Water Company (PSE:MWC) Hikes Investments in Singapore, Philippines Subsidiaries


PHILIPPINES – Manila Water Company, Inc. (PSE:MWC) raised its investments in its wholly-owned domestic subsidiary, Manila Water Philippine Ventures (MWPV), and its wholly-owned Singapore subsidiary, Manila Water Asia Pacific Pte. Ltd (MWAP).

In a disclosure to the Philippine Stock Exchange on Tuesday, Manila Water revealed that its Executive Committee has approved the additional investment of Php418 million in MWPV.

The additional investment will be used to fund the operations of MWPV.

MWPV, formerly AAA Water Corp., holds shares of various units of Manila Water including Clark Water Corp., Boracay Island Water Co., Inc., Manila Water Consortium Inc. and Total Solutions.

The committee also approved the additional investment of US$4.26 million in MWAP, its Singapore subsidiary, to be used to fund further investments in Vietnam.

Manila Water Company, Inc. (PSE:MWC) was trading slight up in morning session following the disclosure.

Shares of Manila Water was trading at Php22.55 apiece at 9:45 a.m. –