BusinessWorld
May 6, 2021 | 12:09 am
By
Senior Reporter
METRO Pacific Investments Corp. (MPIC) on Wednesday reported a 272.06% increase in its first-quarter attributable net income, owing to the sale of its stakes in a power producer and a toll road business in Thailand, as well as the recently signed tax incentives law.
MPIC’s attributable net income for the first quarter reached P7.03 billion, up from P1.89 billion in the same period last year, the company said in a statement to the stock exchange.
The company said it benefited from the gain recognized from the sale of Global Business Power Corp. and Thailand’s Don Muang Tollway Public Co. Ltd.
Published April 29, 2021, 5:00 PM
The summer heat has pushed water demand in a lot of areas in the metropolis, causing the water level in the Bagbag reservoir – which is Maynilad Water Services Inc.’s biggest reservoir – to decline, which eventually led to rotational service interruptions.
This prompted Metropolitan Waterworks and Sewerage System (MWSS) Chairman Reynaldo Velasco to instruct Maynilad to maximize the use of Putatan Water Treatment Plant 2 in Laguna Lake as well as accelerate the completion of its nonrevenue water (NRW) reduction projects to ensure water availability in the west zone.
MWSS Chairman and OIC Administrator Reynaldo V. Velasco (Photo credit: https://mwss.gov.ph/board-of-trustees/)