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Manila Bulletin devider Business devider Laguna Water pays P186-M dividends to LGU

Laguna Water pays P186-M dividends to LGU

Published Oct 28, 2023 05:09 am

At A Glance

  • Laguna Water, a subsidiary of Manila Water Co., paid P186 million in dividends to the Provincial Government of Laguna (PGL) as a shareholder.<br>The agreement between Laguna Water and PGL is a Public-Private Partnership (PPP) that allows the province to earn extra revenue from the water sector through dividend sharing.<br>The dividends will be used for local initiatives and development projects.<br>Melvin M. Tan, Laguna Water president, expressed support and gratitude for the partnership and believes that PPP effectively delivers essential public services.<br>The PGL and Laguna Water have achieved notable milestones in improving water supply and sanitation services, including water quality and pressure, reducing system losses, enhancing customer service and billing systems, and implementing environmental and social projects.

A subsidiary of Manila Water Co. that provides water services in several municipalities in Laguna paid out its dividends to the local government for last year.

In a statement, Laguna Water announced that it paid P186 million in dividends to the Provincial Government of Laguna (PGL) as a shareholder.

Laguna Water's agreement with the PGL is a Public-Private Partnership (PPP) that allows the province to earn extra revenue from the water sector through dividend sharing.

Additionally, the shares would be earmarked for other local initiatives and development projects.

Melvin M. Tan, Laguna Water president expressed his support and gratitude for the partnership.

“We believe that PPP effectively and efficiently delivers essential public services, such as water and sanitation, to our fellow Lagunenses,” Tan said.

“We look forward to more years of successful cooperation with PGL and other local government units in Laguna,” he added.

The PGL and Laguna Water have also shared notable milestones following the aspects of the public-private agreement.

This includes the improvement of water supply and sanitation services, specifically on water quality and pressure, lower Non-Revenue Water (NRW) levels or system losses, better customer service and billing system, as well as the implementation of various environmental and social projects.

Laguna Governor Ramil Hernandez admired the subsidiary for the shares and performances they have garnered for the province, stating that their actions reflect strong financial performance and social responsibility.

“We are proud of our PPP agreement with Laguna Water, which has brought many benefits to our province and people, [and we] hope this partnership will serve as a model and inspiration for other LGUs and private entities wishing to pursue programs managed by PPPs,” said the Governor.

At the moment, Laguna Water has expanded its service areas, from 3 to 11 cities and municipalities.

Moreover, the utility subsidiary is a joint venture between PGL and Manila Water Philippine Ventures (MWPV).

Around 70 percent of the company’s shares are under the MWPV, whereas PGL owns 30 percent.

The PPP agreement was made in 2009 to provide reliable and sustainable water and sanitation services to the residents and businesses of Laguna. (Gabriell Christel Galang)

Related Tags

Manila Water Company Inc. Laguna Water
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