Accounting for concessions
International Container Terminal Services has expanded its operations across the globe. Treasurer Rafael Jose Consing tells Asia Risk how the company manages risks and discusses the impact of new accounting rules for concessions. By Georgina Lee
Philippines-based International Container Terminal Services (ICTS) has established itself as an acquisitive international container terminal operator following a decision by the company's management in 1994 to expand out of its home base where it runs the Manila International Container Terminal.
ICTS last year handled 3.73 million twenty-foot equivalent units (TEUs) and the company is now operating container terminal ports in 11 countries, including Brazil, China, Poland and Madagascar.
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