After President Rodrigo Duterte started lashing at the two water concessionaires, Manila Water (owned by Ayala) and Maynilad Water (owned by MPIC, DMCI, a Jap firm) last December 3, the stocks of companies associated with these two concessions suffered significant decline.
The declines started December 4. I copy-paste here some data from the Philippine Stock Exchange (PSE) website over the past 15 trading days. The change in average prices from Dec. 3 (before the Duterte outburst) to Dec. 13 (last Friday) for MWC was.... -44.4%, in just eight trading days.
1. Stock average prices, volume and value of MWC.
https://www.pse.com.ph/stockMarket/companyInfo.html?id=270&security=518&tab=0
The mother company, AC, and Ayala Land were also affected but not big enough. From Dec. 3 to 13, AC was down -5.4%, ALLHC down -10.0%.
2. Stock average prices, volume and value of AC and ALLHC,
https://pse.com.ph/stockMarket/marketInfo-marketActivity.html?tab=1&indexName=Holding%20Firms
For the Maynilad camp, the changes in average prices from Dec. 3 to Dec. 13 are as follows: MPIC -31.0%, DMCI -14.9%.
3. Stock average prices, volume and value of MPIC and DMCI
The two water firms' concession terms are supposed to end by 2037 after the extension agreement during President Gloria Arroyo's term. Then this week the MWSS cancelled the extension, meaning the concessions will end by 2022.
The conspiracy theory that Manny Villar and family are going after one or both concessions is getting louder. I hear it from friends in UP, from other independent observers. Consider the following.
Water is real estate. Manny Villar is a big real estate player. DPWH Secretary Mark Villar is the son. MWSS is under DPWH. The DOJ investigates the two concessions; one DOJ UnderSecretary is the wife of Mark Villar. House Speaker Cayetano is from the NP Villar wing.
Sige, Duterte pa more.
The declines started December 4. I copy-paste here some data from the Philippine Stock Exchange (PSE) website over the past 15 trading days. The change in average prices from Dec. 3 (before the Duterte outburst) to Dec. 13 (last Friday) for MWC was.... -44.4%, in just eight trading days.
1. Stock average prices, volume and value of MWC.
The mother company, AC, and Ayala Land were also affected but not big enough. From Dec. 3 to 13, AC was down -5.4%, ALLHC down -10.0%.
2. Stock average prices, volume and value of AC and ALLHC,
For the Maynilad camp, the changes in average prices from Dec. 3 to Dec. 13 are as follows: MPIC -31.0%, DMCI -14.9%.
3. Stock average prices, volume and value of MPIC and DMCI
The two water firms' concession terms are supposed to end by 2037 after the extension agreement during President Gloria Arroyo's term. Then this week the MWSS cancelled the extension, meaning the concessions will end by 2022.
The conspiracy theory that Manny Villar and family are going after one or both concessions is getting louder. I hear it from friends in UP, from other independent observers. Consider the following.
Water is real estate. Manny Villar is a big real estate player. DPWH Secretary Mark Villar is the son. MWSS is under DPWH. The DOJ investigates the two concessions; one DOJ UnderSecretary is the wife of Mark Villar. House Speaker Cayetano is from the NP Villar wing.
Sige, Duterte pa more.
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