Int'l Container Terminal Services, Inc.

International Container Terminal Services, Inc. (ICT) was incorporated on December 24, 1987 to operate, manage and develop the Manila International Container Terminal (MICT), which handles international container cargo at the Port of Manila. In May 1988, the Philippine Ports Authority (PPA) awarded the MICT contract to ICT. The Company started its operations of the MICT on June 12, 1988.

The principal business of ICT is the management, operation and development of container terminals. ICT and its subsidiaries provide cargo handling and related services to container, storage facilities and services, and roll-on roll-off (RORO) and anchorage services to non-containerized cargo or general cargo.

ICT's and its subsidiaries' operations are situated in the Philippines, Brazil, Poland, Madagascar, Japan, Indonesia, Syria, China, Ecuador, Colombia, Georgia, Brunei and Argentina. Aside from operating the MICT, ICT also operates terminals in the Philippines, namely, the Mindanao Container Terminal in Misamis Oriental, the Makar Wharf, Port of General Santos, the Cubi Point at the Subic Bay Freeport Zone in Zambales and Sasa International Port in Davao City. In addition, ICT operates other terminals in different countries through its subsidiaries and affiliates, such as port of Guayaquil, Ecuador; port in Suape, Brazil; port of Toamasina, Madagascar; Gdynia Container Terminal in Gdynia, Poland; Yantai port in Shandong province, China; port of Batumi, in Georgia; Tartous Port in Syria; Muara Container Terminal in Brunei Darussalam; and the port of La Plata, Argentina,

Source: SEC Form 17-A (2009)

Attached Files Image(s)

ICTSI Subsidiary Announces Its Intent to Make a Voluntary Conditional Cash Offer to Acquire Shares in Portek International Limited

ICTSI Far East Pte. Ltd. (the “Offeror”), an indirect wholly-owned subsidiary of International Container Terminal Services Inc. (“ICTSI”) has announced (the “Offer Announcement”), through its financial adviser, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, that it intends to make a voluntary conditional cash offer (the "Offer") for all issued and paid up ordinary shares (the “Shares”) in the capital of Portek International Limited (“Portek”), other than those already
owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it.

The Offer Price is Singapore Dollars 1.20 per Share, payable in cash.

Terms and Conditions are found in the link below:
ATR accumulating again.. ilang araw din nya to pinabayaan..
when GOD steps in, MIRACLE happens.....

It's more fun in FOREX!!!

ICTSI doubles reefer capacity at Davao port

A SUBSIDIARY of port operator International Container Terminal Services, Inc. has doubled its capacity for accommodating refrigerated containers at a Davao port to improve the handling of fruit shipments, a statement released on Friday showed.

Port services provider Davao Integrated Port Services and Stevedoring Corp. increased its capacity to 288 so-called reefers from 144 after construction an extension to an existing facility, ICTSI said.

The expansion is intended to enhance the transport and storage of fruit cargo, especially bananas, at the Sasa Wharf, port of Davao, ICTSI said.

"Banana exports from the Philippines are mostly produced in Mindanao, with Sasa Wharf as the key port handling the delicate commodity," Julien C. Domingo, the subsidiary’s general manager, was quoted as saying in the statement.

"Traders have been shifting the shipping of bananas from reefer ships to reefer containers, a more cost-efficient and safer way of transporting the fruit," Mr. Domingo added.

ICTSI said that three racks were constructed at the facility and these were installed with 48 plugs of 440 volts each with power supply stations.

Earnings of ICTSI increased by 25% to $28.490 million in the first quarter from $22.796 million driven by an increase in volume handled during the period.

Shares in ICTSI closed 0.2% or P0.10 lower at P50.30 apiece on Friday. -- Kathleen A. Martin
Supreme Court grants ICTSI petition to intervene in MICT project

MANILA, Philippines - The Supreme Court has granted a petition filed by International Container Terminal Services Inc. (ICTSI) to intervene in the case filed by the Philippine Ports Authority (PPA) against the City of Manila questioning the validity of the city council resolution seeking to stop the construction of the Berth 6 project of the Manila International Container Terminal (MICT).

ICTSI was granted the authority to develop, manage and operate the MICT, giving it a legal interest in the dispute, the company said.

The SC has issued an injunction to prevent the City of Manila from stopping the Berth 6 project, thereby temporarily allowing PPA to proceed with its development project with ICTSI at the MICT.

The order was issued through a petition of the PPA seeking temporary relief from the High Court after the city council stopped the project that required reclamation in the area of Isla Puting Bato in Tondo.

In its resolution, the council adopted the recommendation of its investigating committee and required “parties and private corporations involved in the reclamation to comply with the requirements under the Local Government Code and Manila Water Code.”

ICTSI had questioned the authority of the council to impose additional requirements for a port construction in the Port District of Manila.

It argued that the new Manila Water Code approved by the city council cannot amend the PPA charter and the laws and rules applicable to reclamation of land for port projects by requiring prior approval of the city mayor and the city council.

Senate President Juan Ponce Enrile himself agreed with PPA and ICTSI.

“The reclamation is supposed to pave the way for the development of an additional berth for vessels. Upon my inquiry, the PPA has confirmed that the said project is being undertaken with the prior approval of the authority. The berthing facility to be built on such reclaimed portion, after all, is subject to the control, regulation and supervision by the PPA,” he said.

“I find it very disturbing, even granting the best of intentions, that the city council would even be minded to require the port contractor to secure a mayor’s permit and a city ordinance to approve such an undertaking within the Port of Manila after the PPA has already approved the same pursuant to the expansion and improvement of port facilities at the MICT,” he added.

The multinational port operator earlier said the city council resolution was only a recommendation and was not the final word on the legality of the MICT Berth 6 project.

The project aims to expand the port by 14 hectares and 375 meters of berth. Three quay cranes for the port’s operation will also be added.

In a resolution dated Sept. 23, the City Council of Manila said it had adopted an ad-hoc committee’s report on reclamation activities in Tondo.

The report said the port operator started its project without the consent of Manila Mayor Alfredo Lim and approval of the city council.

The City Council of Manila also approved the Manila Water Code, which imposes local navigation and harbour fees on all water craft docked and moored within waters covered by the city.

The council recommended to Lim the suspension of the project until ICTSI and other concerned entities complied with local government requirements.

“The City Council of Manila has no authority to impose additional requirements for a port construction project in the Port District of Manila,” ICTSI said.

ICTSI said it had secured the approval of the PPA, which has exclusive jurisdiction over port projects by virtue of its charter.

The firm also said it had obtained the approval of the Philippine Reclamation Authority and an environmental compliance certificate from the Department of Environment and Natural Resources.

“MICT Berth 6 Project is a port development project being undertaken by ICTSI with the approval of the (PPA) and in compliance with ICTSI’s commitment under its concession contract with PPA,” the firm said.
Gap filled.. whats next? buy on dips?

[Image: ICT07-14-2011daily.jpg]
when GOD steps in, MIRACLE happens.....

It's more fun in FOREX!!!

Sale by ICTSI Warehousing, Inc. of 31,241,600 ICT common shares

By block sale today - July 22, 2011 @ 55.40 per share.
ahmmm... ano po ba effect ng mga block sale na ganyan mam ruach?..
~In all your ways, acknowledge God.

Initializing Bazura Mode...
^^I know before ICTSI Warehousing bought sa market at a much lower price ICT shares so they are selling now to a buyer who is an institutional investor willing to buy at 55.40 lower than the closing market price yesterday. So in case that same institutional buyer will sell ALL the shares, let us say today, then there will be a possibility of more sellers today than buyers just by looking at the number of shares that will be sold via blocked sale.
ICTSI seals deal for Subic port

PORT OPERATOR International Container Terminal Services, Inc. (ICTSI) yesterday finalized a deal to operate a state-owned terminal in Subic Bay, the firm said in a disclosure.
In a disclosure on the same day, ICTSI said the firm along with the Subic Bay Metropolitan Authority (SBMA) signed the deal after it was earlier awarded the 25-year concession for the development and operation of the New Container Terminal 2 at Cubi Point, Subic Bay.

SBMA’s board of directors approved to award the concession agreement to ICTSI on March 18, the listed port operator said in a previous disclosure.

ICTSI already operates the nearby New Container Terminal 1.

Earnings of ICTSI increased by 25% to $28.490 million in the first quarter due to an increase in volume of cargo handled.


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