The government will have to pay Maynilad Water Services, Inc. for revenue losses caused by delayed rate adjustments after Singapore’s Supreme Court upheld a ruling that favored the West Zone concessionaire.
“Maynilad’s Singapore-based counsel formally confirmed … that the decision of the Singapore High Court, (orally) issued on 4 September 2018, dismissing the Philippine Republic’s Setting Aside Application, has become final as of 4 October 2018,” parent firm Metro Pacific Investments Corp. (MPIC) said in a disclosure on Wednesday.
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