MANILA, March 17 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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(Reporting by Rosemarie Francisco; Editing by Miral Fahmy)