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Roughed-up by Duterte, two Philippine companies shed $1bn in value

Manila's water distributors and largest broadcaster's future in doubt

Philippine President Rodrigo Duterte's warning to two business-owning families was unequivocal: "No matter how many bodyguards you have, I can ruin your face, son of a bitch,”   © Reuters

MANILA -- A week after Philippine President Rodrigo Duterte savaged two listed companies with the words "I can ruin your face, son of a bitch," close to $1 billion has been wiped from their market value.

Alarmed investors have steadily dumped shares in Manila Water Company and Metro Pacific Investments, the parent of Maynilad Water Services, since Duterte's angry response on Dec. 3 to a court ruling ordering his government to pay 7.4 billion pesos ($145m) in arrears.

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