Manila Water says signs MOU for proposed Yangon water project
MANILA, March 17
MANILA, March 17 (Reuters) - Manila Water Company Inc. , one of two major water concessionaires in the Philippines, said on Monday it had signed a memorandum of understanding with the Yangon City Development Committee in Myanmar for a proposed water project.
The project, which Manila Water will develop with partner Mitsubishi Corp of Japan, involves reducing non-revenue water in Yangon City.
Shares of Manila Water, a unit of Philippine conglomerate Ayala Corporation, were up 1.3 percent at noon break, outperforming the broader market which slid 0.13 percent.
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