Manila Water to ramp up overseas expansion

MANILA, Philippines — Razon-led Manila Water Co. Inc. will continue to look for opportunities within its footprint outside the Philippines as it expands its business operations.

During the company’s annual stockholders’ meeting yesterday, Manila Water president and CEO Jocot de Dios said the firm would continue to pay attention to its presence in Southeast Asia and the Middle East.

Last year, Manila Water Asia Pacific (MWAP), which houses the company’s international investments, more than doubled its equity share in net income of associates.

This was driven by the improved performance of East Water in Thailand, as well as the bulk water supply operations of Thu Doc Water and Kenh Dong Water in Vietnam.

MWAP also registered a seven percent increase in total billed volume to 673.2 million cubic meters from 628.5 mcm in 2020.

“The plan is really to consolidate and grow and expand within these territories that are close to our home,” De Dios said.

In Saudi Arabia, Manila Water has management contracts over two clusters that cover about 25 percent of the population.

“The idea is to grow that quickly and rapidly and hopefully win a concession in either or both of those areas,” De Dios said.

Apart from Southeast Asia and the Middle East, De Dios noted that Manila Water continues to look for opportunities for expansion beyond the territories.

He said there are opportunities in Latin America and Africa. However, Manila Water’s immediate plan is to grow its existing footprint in the region.

Nonetheless, De Dios said Manila Water is able to scout for other areas because of the scope of the port business of the Razon Group, enabling the company to generate insights about the markets that it wishes to enter.

“We are able to generate a lot of feedback immediately about regulatory environments, opportunities, low hanging fruit, and even potential partners,” he said.