By Enrico dela Cruz
The proceeds will form part of the Philippines’ foreign exchange reserves and, when converted to pesos, can be used for budget spending.
Manila Water has acquired 18.72 per cent of Thailand’s Eastern Water Resources Development and Management Public Company Ltd (East Water).
Agreement involves the design, supply, and installation of 2- to 3-bedroom luxury condominium apartments and villas.
In the Philippines, men hold 82% of the 265 board seats at the nation’s biggest lenders and some banks have no women on their boards at all.
“China has the capital, has the market. These countries have the need,” CLSA’s chairman said.
Manila Water’s acquisition in Indonesia comes after its foray into bulk water and concession projects in Thailand and Vietnam.
The company intends to sell 679.2 million shares, or about 20% of its total issued shares.
Cerebro Labs was founded by professionals with backgrounds in law, accounting, and engineering.
Landbank’s board had approved during its meeting on February 27 the plan to acquire the stake at P360 ($6.9) per share.
Tokyo Gas and the Philippines’ First Gen Corp , along with two other foreign companies, are looking to invest in the project.