Share Values Plunge As Philippines Prez Threatens Military Takeover Of Capital's Water Concessionaires

16 Dec 2019 by OOSKAnews Correspondent
MANILA, Philippines
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Philippines President Rodrigo Duterte has claimed he will suspend concession agreements with Manila Water Co (Manila Water) and Maynilad Water Services (Maylinad) if the water companies do not show willingness to amend existing concession agreements, following up with a threat to order a military takeover of operations and arrest of water company executives.Duterte's position is that the two companies are not entitled to a fixed rate of return as stipulated in the current contracts; that the current terms were negotiated when the government had little bargaining power; that the terms are “onerous” and far more favorable to the companies than to the public...

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