Water utility Calapan Ventures Inc. (CVI) is aggressively pursuing expansion plans nationwide amid negotiation for partnership and mergers with similar water utilities to include Maynilad Water Services Inc.
Amid partnership negotiation with several water utilities, CVI chairman Jolly Ting says the company remains steadfast in its resolve to make subsidiary Calapan Waterworks Corp. (CWWC) the water provider of choice for mid-size cities and municipalities.
“Our economy is experiencing robust growth but we cannot overlook the fact that 19 million Filipinos still do not have access to potable water. It is our mission to make Filipinos feel that progress by providing them clean and potable water,” said Ting, who also chairs CWWC.
Ting said they are out to replicate their success in water distribution in Calapan where the water company is credited for partly fuelling the city’s fast economic growth from a sleepy town in 1997 into a booming city.
CWWC also runs the Tabuk Water Corp. in Tabuk City, Kalinga and is continuing work on the Metro Agoo Waterworks Inc. in Agoo, La Union.
Ting said they are in talks with business groups and local governments in Visayas and Mindanao to expand their reach in areas not penetrated by major water utilities.
“We are deeply committed to providing the water needs of far-flung communities. We are open to partnership with towns and municipalities that need sanitary and clean water to perk up progress. Our 15-year of experience showed us that no meaningful progress can happen to medium-size town and municipalities that have remained without water,” Ting said.
As to the talks with Maynilad, Ting said they are still in the “preliminary” stage.
“Amid talks with Maynilad and other water utilities, we remain focused on our expansion plans so long as there are communities without water,” he said.
News reports earlier quoted Maynilad president Victorico Vargas as saying that the water firm was in talks of prospective takeover of Calapan Water.
Vargas said Maynilad, a unit of Metro Pacific Investments Corp.  was looking at a potential acquisition, rather than a joint venture deal.
In a disclosure to the Philippine Stock Exchange  Calapan Ventures said its board of directors has given Ting the green light to pursue potential partnerships or investments with interested firms.
Ortrud Yao, Calapan Ventures chief financial officer, said the company is primarily interested in partnerships, mergers or acquisitions in similar water utility businesses.
CVI is a subsidiary of publicly listed Jolliville Holdings Corp. which has business interests in leasing, property development and land banking, management services, water utility, and power generation.

Thrift banks all over the Philippines are generally strong, stable and liquid as its capital adequacy ratio (CAR) and nonperforming loans (NPL) are both within the Bangko Sentral ng Pilipinas limit.
This was assured by the Chamber of Thrift Banks (CTB) as the organization of 55 thrift banks in the country is set to elect new set of officers that will succeed Teodoro Limcaoco, president and other officials.
“Thrifts are generally stable with industry average past due NPL ratio at 6.15 percent as of June 2012 while industry average CAR at 15.9 percent as of December 2012,” Rommel Latinazo, first vice president of CTB, told the Daily Tribune in an exclusive interview.
Latinazo, president of Rizal Commercial Banking Corp. (RCBC) Savings Bank, also clarified that only thrift bank subsidiaries of unibanks are subject to follow Basel 3 requirements while stand alone thrift banks are subject to scaled down version.
Latinazo is set to challenge Limcaoco, president of BPI Family Savings Bank, for the CTB presidency but declined to give any hints what will be the outcome of the election.
“Well, we will have to see what happens in next election of officers.
Mr. Limcaoco may be elected for a second term,” the official said.
Election will be anytime in the last quarter of 2013. Latinazo said the past three CTB presidents served for two terms.
“So very likely Mr. Limcaoco will be reelected for a second term,” he added.    
Lorenzo Tan, president of RCBC and Bankers’ Association of the Philippines (BAP), is hoping Latinazo to succeed Limcaoco.

The Philippines’ largest national flag carrier, Cebu Pacific increases connectivity to and from Mindanao, by adding flight frequencies and options to travelers headed for Zamboanga, Tawi-Tawi and Davao.
Starting Jun. 15,  CEB will add two weekly flights using an Airbus A320 aircraft between Cebu and Zamboanga, making it a six times weekly service.
Meanwhile, starting July 1, CEB will add thrice weekly flights from Manila to Zamboanga, and from Zamboanga to Tawi-Tawi, making it a 24 times weekly service and a daily service, respectively.
The airline will operate a total of 32 weekly flights between Cebu and Davao also starting July 1, with the addition of four more weekly flights.
“Cebu Pacific continues to develop its routes and hubs in Mindanao, to further benefit Philippine tourism and trade. These additional flights mean more choices for our guests, be it same-day returns for business meetings or more opportunities for travel due to seat sales,” said CEB VP for marketing and distribution Candice Iyog.
In the first quarter of 2013, CEB grew its domestic passengers to and from Zamboanga by 17 percent, as well as its Davao hub in Davao by 20 percent.