On 23 November 2016, Maynilad Water Services, Inc. (“Maynilad”) and PT Moya Indonesia (“Moya Indonesia”) signed a Joint Venture Agreement for the establishment of a joint venture company (“JVCo”) in Indonesia, tentatively named PT Water Tecnologia Indonesia.

The JVCo will provide water and wastewater services in Indonesia such as pipe network design and installation, nonrevenue water and wastewater management. Moya Indonesia will own 51% of the JVCo, with Maynilad owning 49%. Pursuant to Indonesian laws, the JVCo’s principal license and incorporation will be subject to the approval of the Investment Coordinating Board and the Ministry of Justice, respectively, of Indonesia.

Moya Indonesia, which was established in 2011, owns 95% of PT Moya Bekasi Jaya, PT Moya Tangerang, and PT Moya Makassar, each of which has a service concession arrangement with the Regional Drinking Water Company (PDAM) of Tirta Bhagasasi Bekasi Regency, Tirta Benteng Tangerang City and Tirta Dharma Makassar City, respectively, for the provision of bulk water to these areas.

Moya Indonesia is wholly­owned by Moya Indonesia Holdings Pte. Ltd., a Singapore company which is in turn owned by Moya Holdings Asia Limited, a company listed at the Singapore Stock Exchange’s Catalist.