Calapan Ventures Seeks to Expand in Visayas, Mindanao Islands

Calapan Ventures Inc. (H2O) is in talks to provide water services to some towns in the Philippine islands of Visayas and Mindanao, Chairman Jolly Ting said in a televised interview with ABS-CBN News Channel.

Negotiations with Maynilad Water Services Inc. are “very preliminary” and may be concluded in two to three months, Ting said. Calapan Ventures on May 9 said Maynilad, which provides water to half of the Philippine capital, is one of the parties it is in talks with for possible cooperation.

Calapan shares rose 3 percent to 7.55 pesos as of 11:40 a.m., outpacing the Philippine benchmark stock index’s 0.2 percent gain.

-- With assistance from Clarissa Batino.

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net

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