MANILA - Maynilad Water Services Inc can “better manage” distribution as the government allocated more water supply during the Metro Manila-wide quarantine to contain the COVID-19 pandemic, its parent said Monday.
The National Water Resources Board (NWRB) allocated an additional 4 cubic meters per second of water supply to Metro Manila "which will enable Maynilad to better manage service levels," Metro Pacific Investment Corp told the stock exchange.
Critical inventories "are enough through June," it said. Primary and secondary supplier have also confirmed deliveries beyond that date or "for the remaining balance of the year," it said.
Maynilad distributes water to the capital's west zone, while Ayala's Manila Water covers the east.
Demand for power in the residential sector is expected to "remain strong" due to the increased work from home setup, said MPIC, which has a stake in electricity distributor Meralco.
Industrial and commercial power demand are expected to decline as businesses and offices shut, it said.
A possible reduction in dividend income from its tollways business is anticipated "if the traffic reduction relating to COVID-19 and Metro Manila community quarantine is substantial and long lasting," Metro Pacific said.
Most domestic land, air and sea travel to and from Metro Manila was suspended for a month until April 14 to contain the spread of COVID-19.
The Pangilinan-led firm has "ample liquidity" to support essential investment projects, meet debt obligations and maintain current level of dividend payments to shareholders, it said.