Asia Risk 15: Rafael Consing, ICTSI
Corporates were hit hard by derivatives losses linked to investments and low-cost hedges during the financial crisis. But most companies have benefited by using derivatives to manage financial risks. Joti Mangat and Georgina Lee talk to one such company, the Philippines’ ICTSI
International Container Terminal Services Inc (ICTSI) was founded in 1987 to acquire the Manila International Container Terminal (MICT) from the Philippine government. The company’s subsequent strategy has been to acquire underperforming small- and mid-sized terminals in privatisations. This has extended its network to 19 concessions in 14 countries.
In the first quarter of this year, ICTSI reported a 30% increase in gross revenues, and had total assets of $1.45 billion and total liabilities of
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