Maynilad eyes expansion in Vietnam, Myanmar, Indonesia

Posted at 11/07/12 5:55 PM

MANILA, Philippines - Businessman Manuel V. Pangilinan says the Metro Pacific group is setting its sights on Vietnam, Myanmar and Indonesia to expand its water business.

Metro Pacific owns about 56% of Maynilad, the water concessionare for the West Zone of Metro Manila.

The Pangilinan group says it is scouting for water contracts in Myanmar and is already in talks with investors in Indonesia and Vietnam.

Maynilad helped boost Metro Pacific's profit by 23% in the third quarter. 

Metro Pacific's income was also driven by its other subsidiaries Meralco and Hospital Group.

Pangilinan says Metro Pacific is on track to meeting its P6.3 billion income guidance for this year.