HISTORY

The corporate history of Maynilad began with the successful privatization of the Metropolitan Waterworks and Sewerage System (MWSS) in 1997. Before then, MWSS was the government corporation in charge of providing water supply and sewerage disposal services in the greater Metro Manila area.

In a highly anticipated bidding that drew the attention of the global water community, the partnership of Benpres Holdings Corporation (Benpres) and Ondeo Water Services, Inc. (formerly Suez Lyonnaise de Eaux) was awarded the exclusive right to run the water and wastewater operations in the West Zone of Metro Manila.

Towards its 10th year, after a string of financial, legal, and regulatory disputes, Maynilad went through a change of ownership, with the consortium of Metro Pacific Investments Corporation (MPIC) and DMCI Holdings, Inc. (DMCI) acquiring 83.96% of the water company’s shares. Lyonnaise Asia Water Limited (LAWL) held a 16% share.

The MPIC-DMCI consortium took over on January 24, 2007, and immediately worked on the financial and operational rehabilitation of Maynilad. In August of the same year, the consortium signed a prepayment and settlement agreement with Maynilad’s creditors and MWSS.

By January 2008, the new owners of Maynilad had already paid off the company’s outstanding debts, which had then reached $240 million. An aggressive catch-up plan was also implemented to increase company revenue, improve water service operations, and drastically cut commercial losses.

To herald the sweeping transformation that was about to take place, Maynilad launched its new company logo in November 2008. The new logo reflected the new direction and renewed mission of the company’s management team.

Positive change has finally come to Maynilad. And soon, the results will be felt in all of West Zone.

Truly, sa bagong Maynilad, dumadaloy ang ginhawa.