Manila Water says signs MOU for proposed Yangon water project

MANILA, March 17 Mon Mar 17, 2014 12:55am EDT

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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.

To view the full disclosure, please click on (link.reuters.com/jap67v) (Reporting by Rosemarie Francisco; Editing by Miral Fahmy)

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