Maynilad Water Services Inc. (Maynilad) is poised to hike water rates as the Quezon City court upheld its petition for rate adjustment that it first sought two years ago.

Listed DMCI Holdings Inc. told the Philippine Stock Exchange on Thursday that in the August 30 resolution of the Regional Trial Court of Quezon City, it granted the Petition for Confirmation and Enforcement of Arbitral Award that Maynilad filed in July 2015 after Metropolitan Waterworks and Sewerage System and the MWSS Regulatory Office refused to implement the final award accorded on December 29, 2014 that was issued in an arbitration between Maynilad and MWSS.

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