TODAY we talk about water, that very important commodity that we just cannot do without.
The human body is composed of 60 percent water. The planet earth's surface is 71% water, so that the planet should have been called "Water" rather than "Earth".
We need water to drink and replenish our cells in the body. We need water for personal hygiene and sanitation, as a cleaning agent for our homes and clothes, etc.
There are two developments about water that might -- just might -- influence the price action of several stocks. These are San Miguel Corp., Manila Water Corp., Metro Pacific Inc. and DMC Holdings.
First, the Metropolitan Waterworks and Sewerage System has approved the business plan for the 3rd stage of San Miguel Corporation's P24 billion Bulacan Bulk Water Supply Project (BBWSP).
The MWSS board gave the green light for the Updated Business Plan (UBP) submitted by the Luzon Clean Water Development Corp. (LCWDC), a consortium of SMC and K-Water Resources Corp.
This will allow the LCWDC to start the design and engineering of the 3rd stage of the project to provide treated bulk water to 24 water service providers in Bulacan province.
$:SMC opened at 117.80 today.
Meanwhile over at Senate, Sen. Grace Poe sponsored House Bills 9422 and 99423 that seek to give a 25-year extension to the concession agreements of Maynilad and Manila Water with the government.
Poe noted that the National Capital Region and the nearby provinces have been “plagued year after year and drought after drought of water crisis characterized by constant supply interruption, lack of potable water, and high water rates.”
“We recognize that the grant of franchise is just part of a bigger solution to the water problems in the country, and that there is still a need to tap and develop new water sources, improve water supply, distribution and sewerage systems, and further educate people on water conservation and climate change,” Poe said.
Once enacted into law, Poe said this would help the country in achieving affordable and adequate supply of clean water.
Today, $:MPI opened at 3.78 and was up by one centavo while $:MWC opened at 17.86 and up by 2 centavos.$:DMC was trading at 6.85 a piece up by 5 centavos.
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