Maynilad settles its debts ahead of IPO
- From: Vol 9, Issue 2 (February 2008)
- Category: General
- Region: Asia
- Country:
- Related Companies: Lopez Group, Manila Water Company, Metro Pacific Investments and Pacific Group
Manila’s West Zone concessionaire is starting 2008 with a clean slate. Its new lean-mean image has involved cutting 33% of the workforce.
Things are looking up for Maynilad, Manila’s West Zone concessionaire – this year the company finally became profitable, and was recently given legal approval to pay off its debts of $240 million early, allowing it to get out of so-called “corporate rehabilitation”. With a clear balance sheet, a PHP8 billion ($197 million) capex programme for 2008 and ambitious plans for ...
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