Asian Terminal Inc. said it is “actively” looking to acquire ports outside the Philippines.
“We’re on the lookout for that. We’re always on the lookout for that. Nothing specific, but if there’s a good opportunity that comes, we’ll certainly consider,” ATI president Eusebio Tanco said.
Tanco said ATI would “invest a quite a bit this year.”
“We have a lot of projects. We are expanding the South Harbor. And then we are expanding Batangas. And we’re moving into logistics,” Tanco said.
ATI programmed P8 billion for 2018 capital expenditures, up by 74 percent from last year’s P4.6 billion, to expand the capacity of ports in Manila and Batangas.
The company reported a net income of P2.5 billion last year, up 31 percent from P1.9 billion in 2016.
ATI’s revenues rose 15 percent in 2017 to P10.6 billion from P9.2 billion in 2016 on higher volumes of containerized cargoes and favorable cargo mix in the non-containerized segment.
ATI’s international ports in Manila and Batangas handled a combined container cargo throughput of over 1.3 million twenty-foot equivalent units last year.
