On 21 August 2013, Manila Water acquired a 31.46% stake in Vietnam water utility SWIC. The deal needs to be ratified by SWIC within 105 days. SWIC, formerly Saigon Infrastructure Real Estate Investment Joint Stock Company, shifted its focus in 2011 toward integrated water and wastewater treatment services.
MWC’s parent company is owned by Philippine-based Ayala Group (32%), First State Investment Ltd. (9.7%), Mitsubishi Corporation (8.3%), and the International Finance Corporation (6%). MWC was incorporated on 1997, commenced operations in 2000 and became a publicly listed company in March 2005.
- Manila Water’s continued push portends further market expansion
- Vietnam presents greenfield opportunities for private water
- Emerging Asian independents signal shifting global water landscape