ATI eyes overseas expansion

MANILA, Philippines - Asian Terminal Inc. (ATI) said it plans to expand its port business outside the Philippines.

In a disclosure to the Philippine Stock Exchange, ATI said it would amend its articles of incorporation to allow them to expand abroad.

 â€œThe previous provision limited the business operations of the company within the Philippines. The above amendment, will allow the company to expand and engage in business within the Philippines or overseas,” ATI vice president for business support and corporate secretary Rodolfo Corvite said.

Corvite said the amendment would be submitted for approval of the stockholders on April 24.

Asian Terminals, Inc. (ATI), formerly known as Marina Port Services Inc., was incorporated on July 9, 1986 to provide general services with respect to the operation and management of port terminals in the Philippines. In August 1990, a consortium of local and foreign companies acquired all the issued and outstanding capital stock of ATI.

ATI manages and operates the South Harbor.

The services offered by the company at the South Harbor include container terminal handling, arrastre, stevedoring, storage, cranage, domestic cargo handling and passenger terminal operations, international container freight station and equipment services.

ATI also manages and operates the Inland Clearance Depot in Manila, Port of Batangas, Batangas Container Terminal, and Batangas Supply Base. It also owns 35.71 percent of South Cotabato Integrated Port Services Inc, the existing cargo handling operator at the Makar Wharf in the Port of General Santos, General Santos City.

ATI has allocated P4.2 billion capital investments over the next three years to boost the competitiveness of Philippine industries and to meet its expansion targets for Manila ’s gateway port as part of its contractual commitments with the PPA.