The Philippines: PPA Posts 58 Pct Hike in Net Income

 

The Philippine Ports Authority (PPA) posted higher net income in the first 10 months of 2013, enabling the agency to donate P20 million to Yolanda-ravaged areas.

Latest data showed that net income reached P4.87 billion in the January-October 2013 period or about 58.2% higher compared to the P3.08 billion registered in the same period of 2012.

According to PPA General Manager Juan C. Sta. Ana, the rise in net income was due to the constant decrease in the total expenses, which has been dragging the agencies revenue generation measures the past couple of months.

“The hike in net income only shows that the agency is reaping the benefits of reduced red-tape at the agency as well as transparency in operations,” Sta. Ana explained.

According to Sta. Ana, the decrease in total expenses was due to the reduced spending in dredging and personal services while the drop in non-operating expenses was due to the decrease in interest payment for domestic and foreign-currency denominated loans and other charges.

Press Release, February 4, 2014

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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