The Senate Committee on Public Services cautioned that PrimeWater Infrastructure Corporation’s acquisition and subsequent rebranding do not discharge its binding commitments to clients, builders, and regional water districts.
During an inquiry into whether the firm’s new management possesses the financial capacity to rectify historical operational failures, committee chair Senator Raffy Tulfo clarified that Crystal Bridges, Inc.—which bought PrimeWater prior to its transition to Hiraya Water Corporation—assumed all operational liabilities alongside earnings and physical assets.
”To be fair, Crystal Bridges did not create PrimeWater’s problems. Pero kapag bumili ka ng kumpanya, hindi lang assets at revenue ang kasama. You inherit the existing contracts, debts and obligations, pending cases, unfinished commitments, and consumers – na galit na, uhaw pa,” Tulfo said.
The acquisition occurred on December 12, 2025, securing Philippine Competition Commission clearance on April 7, 2026, before the enterprise formally adopted the Hiraya Water Corporation identity on June 10.
Lawmakers expressed skepticism regarding the new parent company’s fiscal standing. Corporate filings from the Securities and Exchange Commission revealed Crystal Bridges held a modest ₱312,500 in assets prior to purchasing PrimeWater, an entity saddled with ₱23.7 billion in outstanding debt and approximately ₱100 billion in capital expenditure pledges tied to joint ventures.
Tulfo subjected Hiraya’s proposed ₱6.7-billion recovery strategy to close scrutiny. When distributed among 75 municipal water partnerships, the funding yields roughly ₱89 million per locality, excluding private residential developments.
The planned outlay encompasses ₱500 million for 14 projects in Lucena, Quezon, alongside ₱600 million designated for system upgrades and network expansion in Dasmariñas, Cavite.
The lawmaker insisted that these infrastructure expenditures form part of pre-existing joint venture agreements and must not serve as grounds for rate increases.
”Welcome development ito. But please, let me remind Hiraya Water: these so-called ‘new investments’ are part of your existing commitments under the JVAs. Kaya hindi dapat tumaas ang singil sa tubig,” he said.
The hearing also highlighted unsettled accounts with former service providers, such as MMVA 346 Construction, which seeks ₱4.21 million, and R. Abalos Construction, which demands roughly ₱96 million in unpaid bills lingering since 2023.
”PrimeWater may now be Hiraya, but a new name does not erase old commitments,” Tulfo said.
Despite the corporate restructuring, rate-payers continue to report poor water quality, steep monthly bills, intermittent supply, and restricted service availability.
Tulfo urged Hiraya to deliver concrete, measurable operational progress rather than mere corporate pledges.
”Hindi utang na loob ang maayos na tubig. Binabayaran ito ng ating consumers. Hiraya means hope – but today, we need more than hope. We need answers, timelines, and results,” he said.