Manila, Sept. 3 -- The change in ownership and corporate name of PrimeWater Infrastructure Corp. does not erase its existing obligations to consumers, contractors and local water districts, a Senate panel said Thursday as it scrutinized whether its new owner has the financial capacity to address long-standing service problems.

Senate Committee on Public Services chair Senator Raffy Tulfo said Crystal Bridges, Inc., which acquired PrimeWater before it was renamed Hiraya Water Corp., inherited not only the company's assets and revenues but also its debts, contracts, unfinished commitments, and pending obligations.

"To be fair, Crystal Bridges did not create PrimeWater's problems. Pero kapag bumili ka ng kumpanya, hindi lang assets at rev...