Manila Water Company, Inc.

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Manila Water warns of water shortage by 2021

Manila Water Co. Inc. yesterday warned of possible water shortage in its concession area starting as early as 2021 as regulators still have not acted on its proposal to build a new water source.

Manila Water chief operating officer Geodino V. Carpio said in a briefing that in its proposed business plan for the regulatory period 2018-2021, the company intended to build a P13-billion integrated water supply facility in Pakil, Laguna.

The proposed project, called Laguna Lake Water Supply System Project or “East Bay,” will give Manila Water the additional capacity to produce potable water at 250 million liters daily (MLD).

“In our concession area, demand is growing at 40 MLD to 50 MLD every year,” Carpio said. “Without East Bay and with the government-led Kaliwa Dam project still not moving forward, we may find supply unable to keep up with demand by 2021.”

Carpio said Manila Water customers currently required 1,650 MLD, which the company was meeting with 1,600 MLD from Angat Dam and 50 MLD from La Mesa Dam.

Also, Manila Water expects its 100-MLD Rizal province water supply improvement project—located in Cardona, Rizal—to go online this coming October with an initial supply of 50 MLD.

“(The Cardona project) can only cover the increase in our customers’ demand for the next two years,” Carpio said. “From then (in 2021) until the target completion of Kaliwa Dam in 2023, where would we get additional supply?”

“This could mean that the far reaches of our concession area will experience a decrease in pressure or that 24-hour availability of water will not be sustained,” Carpio added.

Reynaldo V. Velasco, administrator of the Metropolitan Waterworks and Sewerage System, last week hinted that the MWSS was not inclined to approve Manila Water’s East Bay project.

“(I)t will be difficult to consider a P15-billion project in Laguna Lake to produce 250 MLD against the P12.2-billion Kaliwa, which will produce 600 MLD,” Velasco told a meeting of corporate chief executives organized by the Management Association of the Philippines.

Yesterday, Carpio admitted that Velasco was referring to East Bay, but clarified that the project would cost only P13 billion, not P15 billion.

“The comparison is not apples to apples,” Carpio said. “The P13 billion for East Bay already accounts for the entire system from raw water source to the customers’ tap.”

He said that, on the other hand, the P12 billion for Kaliwa does not include the cost of distribution lines and other facilities from the treatment plant to the customers’ premises.

“If we include that, the cost of Kaliwa Dam—if it were to be an end-to-end system [from raw water source to the tap]—would reach P44 billion,” Carpio said. “That means the cost of East Bay would be at about P52 per cubic meter while Kaliwa would cost P73 per cubic meter.”

10-14 lang Smile

Manila Water bags P1.5-b water project in Tanauan

Manila Water Co. Inc. said it bagged the P1.5-billion 25-year water project in Tanauan City, Batangas.

Manila Water said in a disclosure to the stock exchange wholly-owned subsidiary Manila Water Philippine Ventures Inc. received the notice of award from the Tanauan Water District for the implementation of the joint venture project.

It involves the design, improvement, upgrade, rehabilitation, and expansion of water supply and sanitation facilities in Tanauan.

MWPV expects to deliver a potential billed volume of 13.18 million liters per day to TWD which currently serves 48 barangays in Tanauan City.

Under the contract, MMPV will handle the financing and construction of such facilities and infrastructure in the service area of the TWD, and the management, operation and maintenance of water supply and sanitation facilities and the provision of the services necessary or incidental in the TWD’s service area.

MWPV was formed as Manila Water’s vehicle for expansion within the Philippines, with a focus on geographic expansion.

MWPV was recently granted a 25-year franchise to provide water and sanitation services in Sta. Barbara, Pangasinan.  It also received a notice of award from the Pagsanjan Water District for a joint venture in water supply and sanitation services provision. 

MWPV said it was also working on the submission of a bid proposal for New Clark City, a water and used water concession project of the Bases Conversion and Development Authority.

The project will have a concession period of 30 years, with an estimated capital spending of P10 billion.

MWPV’s projects include those with LagunaAAA Water Corp., Boracay Island Water Co., Clark Water Corp., Manila Water Consortium Inc. and Estate Water, an operating division under MWPV which operates and manages the water systems of townships developed by Ayala Land Inc.

Aside from local expansion, Manila Water is also expanding across Southeast Asia with several projects in Vietnam and Thailand.

Manila Water reported in August that it had several overseas projects in the pipeline. For Indonesia, the water utility firm submitted a bid for the West Semarang Water Supply project – a water supply PPP with a 25-year contract period and estimated capital spending of $34 million. 

It is also eyeing the Sembayat Gresik Water Supply BOT in Indonesia, with a similar 25-year contract and capital spending of $56 million.

Manila Water said it was also invited to participate in the Weliwita Bulk Water project in Sri Lanka, with a 30-year contract and estimated capital spending of $133 million.

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...earnings report...flat...avoid muna Smile

Manila Water posts flat earnings

MANILA Water Co., Inc. reported a 1% increase in net income as of September this year to P4.93 billion from P4.89 billion in the same period last year, the Ayala-led company told the stock exchange on Wednesday.

The growth during the nine-month period comes after the company recorded a 7% increase in revenues to P14.43 billion, and a 45% growth in other income to P944 million.

Manila Water’s other income include its equity share in the net income of associates at P515 million, up nearly 83% from P282 million previously.

The company did not report its separate figures for the third quarter.

Manila Water, which holds the water concession in greater Manila’s eastern side, registered a cost of sales and operating expenses of P5.94 billion, 21% higher compared with the previous year’s P4.90 billion.

Earnings before interest, tax, depreciation and amortization (EBITDA) reached P9.43 billion, up 3% from P9.19 billion. This translates to an EBITDA margin of 65% as against 68% in the previous year.

Manila Water’s report comes after it disclosed last month new projects, including the construction of a water supply system in San Fabian town in Pangasinan province following the grant of a franchise by municipal officials.

The project, which will be undertaken by subsidiary Manila Water Philippine Ventures, Inc., will have a capital expenditure of around P742 million. It is expected to be operational by 2019.

The franchise follows Manila Water’s announcement that the same unit received the notice of award from the Tanauan Water District for the implementation of a joint venture project for the design, improvement, upgrade, rehabilitation and expansion of the town’s water supply and sanitation facilities.

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