Maynilad Water Services Inc. (Maynilad) is poised to hike water rates as the Quezon City court upheld its petition for rate adjustment that it first sought two years ago. “The final award upheld the 13.41 percent rebasing adjustment that Maynilad proposed for the fourth rate rebasing period, 1 January 2013 to 31 December 2017,” DMCI Holdings said. In July, the international tribunal in Singapore ruled that Maynilad held the right to collect P3.424 billion in revenue losses against the government for the delay in implementing water rate adjustments. Maynilad is a unit of the MPIC that services 17 cities and municipalities that comprise the West Zone of the Metropolitan Manila area. DMCI Holdings has a 25 percent interest in Maynilad through Maynilad Water Holding Company Inc., a consortium with Metro Pacific Investments Corporation and Marubeni Philippines Corp.JORDEENE LAGARE

Source: Manila Times September 14, 2017 11:15 UTC