Investing Stocks in Philippines: Container terminal

Showing posts with label Container terminal. Show all posts

Saturday, October 20, 2012

Stock News 2012: ICTSI completes Pakistan port deal

Pier T Container Terminal in Long Beach, California with intermodal rail in the foreground and gantry cranes behind that (Photo credit: Wikipedia)

International Container Terminal Services, Inc. (ICTSI) has completed the purchase of 35-percent stake in Pakistan International Container Terminal Ltd. (PICT).

PICT is a container cargo terminal located at the Karachi Port in Pakistan with a maximum handling capacity of 750,000 20-foot equivalent container units (TEUs).

The acquisition was made by ICTSI’s indirect wholly-owned unit ICTSI Mauritius Ltd.

ICTSI Mauritius earlier launched a tender offer to acquire all the shares of PICT at a price of 150 Pakistan rupees per share (about P65.04).

The company is expected to gain control of 55 percent of PICT after the tender offer.

Premier Mercantile Services Ltd., currently the controlling shareholder of PICT, is seen to keep a 40 percent stake. It was awarded a 21-year concession to build and operate a dedicated container terminal at Berths 6-9 in Karachi Port in April 2002.

PICT was subsequently formed to serve as the corporate vehicle for the project.

ICTSI earlier said it was ready to invest $95 million in PICT, which handled a total of 669,806 TEUs for the fiscal year ending June 30.

ICTSI is a leading port management company involved in the operations of 24 maritime terminals and port projects in 17 countries with six ports in the Philippines, and one terminal each in Indonesia, Brunei, India, China, Japan, United States, Ecuador, Brazil, Poland, Georgia, Croatia, Syria and Madagascar.

It also has ongoing port development projects in Mexico, Colombia and Argentina.

ICTSI recently completed the acquisition of a port facility located in Jakarta’s Tanjung Priok area, adding it to its growing terminal portfolio. It also acquired stakes in major cargo ports in the Middle East and Nigeria in Africa.

The company has earmarked $550 million this year for its capital expenditures- more than double what it spent in 2011.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=861273

Wednesday, July 25, 2012

Stock News 2012: Tan's MacroAsia has P1 billion to invest in airport-related projects

The departure hall of Mactan Cebu International Airport on Mactan Island. (Photo credit: Wikipedia)
With over a P1 billion in cash, taipan Lucio Tan-led MacroAsia Corp. is on investment mode with plans to bid for aviation and airport-related projects under the government’s Public Private Partnership program as well as expand its operations overseas through partnerships.

At the same time, MacroAsia is keen on acquiring more mining assets, reviving its proposal to build a world-class cargo terminal and securing additional bulk water distribution contracts.

MacroAsia president and chief executive officer Joseph Chua said the company is eyeing investment opportunities in the country’s major airports which include the Laguindingan International Airport in Cagayan De Oro, the Mactan-Cebu International Airport, and Diosdado Macapagal International Airport.

He said the company’s interests range from airport operations and maintenance, airport development, airport cargo terminal, and aviation fuel farm.

The company’s diversification move is aimed at boosting its cashflow and enhancing shareholder value, Chua noted.

MacroAsia director Lucio K. Tan said the company is looking to expand its aviation services beyond the Philippines.

Chua said foreign players in the aviation services sector have already taken note of the Filipino talent and competency in the industry, pointing out that the company has received offers to consider opportunities for collaboration abroad.

Last June, the group signed an in-flight catering venture with a Qatar firm. Under the deal, MacroAsia will own 44 percent of the joint venture firm but with management control. It will infuse an initial P12 million into the venture.

MacroAsia is also looking to expand its presence in Cebu with plans to build MRO (maintenance repair and overhaul) facilities for narrow-body aircraft. “We are currently waiting for final approval from National Government authorities so we can pursue this project futher,” Chua said.

Aside from this, MacroAsia is pushing for the construction of a cargo processing terminal to make the Philippines at par with global standards. The original proposal submitted to the Manila International Airport Authority during the Ramos Administration, was supposed to more than double the capacity of the existing cargo terminal.

The company is also considering venturing into gold mining and has its eyes on two sites. One is in the exploratory stage, Chua said.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=830217