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Manila Bulletin devider Business devider Maynilad forms joint venture with Moya Indonesia

Maynilad forms joint venture with Moya Indonesia

Published Jun 30, 2020 12:17 am
By Philippine News Agency Maynilad Water Services, Inc. has signed a deal to establish a joint venture company (JVCo) with PT Moya Indonesia that will provide water and wastewater services in Indonesia. This was bared in separate disclosures to the Philippine Stock Exchange by conglomerates Metro Pacific Investments Corp. (MPIC) and DMCI Holdings Inc. which both hold economic interests in Maynilad. Maynilad; Moya Indonesia (MANILA BULLETIN) Maynilad; Moya Indonesia
(MANILA BULLETIN) Tentatively named PT Water Tecnologia Indonesia, the JVCo will provide water and wastewater services in Indonesia such as pipe network design and installation, non-revenue water and wastewater management. Moya Indonesia will own 51 percent of the JVCo, with Maynilad owning 49 percent. Pursuant to Indonesian laws, the JVCo’s principal license and incorporation will be subject to the approval of the Investment Coordinating Board and the Ministry of Justice, respectively, of Indonesia. Moya Indonesia, which was established in 2011, owns 95 percent of PT Moya Bekasi Jaya, PT Moya Tangerang, and PT Moya Makassar, each of which has a service concession arrangement with the Regional Drinking Water Company (PDAM) of Tirta Bhagasasi Bekasi Regency, Tirta Benteng Tangerang City and Tirta Dharma Makassar City, respectively, for the provision of bulk water to these areas. Moya Indonesia is wholly-owned by Moya Indonesia Holdings Pte. Ltd., a Singapore company which is in turn owned by Moya Holdings Asia Limited, a company listed at the Singapore Stock Exchange’s Catalist. (PNA)
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