01
Executive overview
Key findings
PHP 163.3 billion: budgeted capital programme for 2023–2027 under the sixth rate rebasing period (budget); PHP 34.6 billion falls in 2026
PHP 26,878 million: capital expenditure disbursed in 2025 (actual); about PHP 19.5 billion in the nine months to September 2026
35.0%: sewerage coverage of the water-served population (end-2025), against a legal requirement of 100% water and sewerage coverage by 2037
29.3%: non-revenue water at end-September 2026, against a target of 25.0% by 2027; PHP 7.7 billion allotted to loss reduction in 2026
02
Buyer relevance
Who the report is for
Pipe, valve and meter manufacturers
Prequalify products ahead of a loss reduction programme allotted PHP 7.7 billion in 2026 and named primary mains packages.
Civil and pipe-laying contractors
Plan accreditation, including the PHP 2.5 million working capital screen, before direct competitive bidding and raffles for pipe-laying.
Wastewater process and membrane technology firms
Target compliance upgrades, the 205 MLD CAMANA facility and ceramic ultrafiltration at Putatan, and subcontracting on the Central Manila facility held by SUEZ.
Business development teams at international water firms
Prepare for a new chief executive from 1 January 2027 and the 2027 tariff step that closes the 2023–2027 plan.
03
Decision scope
Questions answered
How much does Maynilad spend on capital works?
It disbursed PHP 26,878 million in 2025 and about PHP 19.5 billion in the nine months to September 2026, against a 2026 budget of PHP 34.6 billion.
How do contractors and suppliers get in?
Contractors need annual four-phase accreditation with at least PHP 2.5 million of working capital a year; suppliers must prequalify each material or brand before bidding.
Who already holds major work?
SUEZ holds the Central Manila sewerage facility, and Maynilad recorded PHP 2,784.3 million of construction costs with D.M. Consunji in 2025.
Which projects received reallocated bond money?
In August 2025 the board moved PHP 7,881.33 million of blue bond proceeds to 27 projects, including PHP 507.45 million for a 100 ML Bagbag reservoir cell.
04
Inside the report
Inside the complete report
1. The Account at a Glance
2. Organisation and Decision-Making
3. Financial Position
4. Priorities and Pressures
5. How Maynilad Water Services Buys
6. Opportunity Register
7. Commercial Priorities: Where to Focus First
8. Watch List: What to Monitor and What to Do
Source Register
05
Public preview
What to watch next
2027 tariff decision and the next rebasing
2027 is the last year of the 2023–2027 capital budget; the next rebasing sets what investment is recovered.
Full-year 2026 capital spending
About PHP 19.5 billion by September against a PHP 34.6 billion budget and guidance of up to PHP 30 billion.
New CEO from 1 January 2027
A former head of the bodies that allocate Maynilad's water and approve its tariffs takes over.
30% listing requirement
Public ownership was 28.98% against a 30% listing requirement due in January 2027.
Opportunity Register: Maynilad's water and wastewater programmes with status, contractors, supplier categories and routes in.
06
Included
What you receive
The complete PDF report: 11 pages, 9 sections, 7 tables and a register of 22 sources.
This edition
November 2026, First edition.
07
Evidence & method
Evidence and method
The brief draws on Maynilad's SEC annual filing, including related-party transactions and costs, its audited financial statements, the August 2025 blue bond reallocation filing, its contractor and supplier accreditation pages, its 1H 2026 investor briefing, and dated press reports on projects, leadership and regulation checked to 5 November 2026.
Sources
22 sources, listed in the report's source register. Evidence current to 5 November 2026. Principal data periods: FY2025 audited results and annual filing; 1H2026 investor briefing; nine-month 2026 results as reported on 5 November 2026. Project and procurement status checked against public sources on 5 November 2026. All currency is Philippine pesos (PHP)..
08
Lead analyst
Robert C. Brears
Founder, Our Future Water Intelligence
Robert C. Brears is a water-security specialist and author whose work examines utility governance, infrastructure investment, climate resilience and long-term water-system change for executive and policy audiences.
- Decision-focused utility intelligence
- Published water-policy author
- Evidence-grounded system analysis
09
Buyer FAQs
Before you purchase
Who can use the report?
Licensed for internal use within one purchasing organization. The PDF and its contents may be shared with colleagues within that organization. External redistribution, resale and public publication are prohibited without permission.
How is the report delivered?
The PDF is available to download immediately after confirmed payment, through our secure delivery system.
Can my organization buy wider access?
Institutional purchasing: For invoice enquiries, multi-organization licensing or broader access requirements, contact Our Future Water Intelligence.
10
Maynilad Water Services: Utility Account Brief
- Format
- Length
- 11 pages
- Edition
- November 2026, First edition
- Price
- USD 499
11
Report details
Publication details
- Publisher
- Our Future Water Intelligence
- Report family
- Utility Account Brief
- Edition
- November 2026, First edition
- Format
- Length
- 11 pages
- Reference
- OFW_EXT_MAYNILAD_WATER_SERVICES_UTILITY_ACCOUNT_BRIEF_d5e388abba7e
- Evidence current to
- 5 November 2026
14
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