PPA Reaps Fruits of Increased Traffic Volumes

first_imgzoom The Philippine Ports Authority (PPA) recorded a 15% hike in net income despite the Manila port congestion, which troubled the port for the majority of 2014.Net income after tax reached P 4.26 billion from P 3.70 billion posted in 2013, the latest data from the state-owned agency showed.Gross revenues, on the other hand, posted an increase of 13.5% to P 12.57 billion for the period in review as against the 2013 registered amount of P 11.07 billion.Port revenues posted the biggest increase in 2014 after posting about 25% hike from P 9.99 billion in 2013 to P 12.46 billion.However, the Fund Management Income (FMI), which contributed with another half to the gross revenues of the port, declined significantly to P 103.21 million or about 16% below the 2013 level.“The considerable increases in almost all aspects of the revenue generation process of the agency can be attributed primarily to the increase in traffic volume at the ports despite the congestion issue involving the Manila ports,” PPA General Manager Juan C. Sta. Ana said.“The decrease in FMI, on the other hand, was due to the decline in interest rates on special and high-yield savings deposits and the termination of Bond Sinking Fund held by the Bureau of Treasury from which interest income is also derived,” Sta. Ana explained.The congestion at the port of Manila was declared to be over at the beginning of March with port operations fully normalized. As informed, both the International Container Terminal Services, Inc. (ICTSI) and Asian Terminals Inc. (ATI) show improved efficiency as berthing schedules are being met promptly.last_img read more

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PM promises tough sentences for predators

00:00:00 | 00:00:00::Projekktor V1.3.09 (Update)Tougher penalties for child predators. That’s the name of the act the Conservative government plans to introduce when Parliament resumes in the fall.The Prime Minister made the announcement in Toronto Thursday.  Lisa Hepfner has the details.Harper said he was sad to have to make the announcement but that the measures are necessary because child porn offenses have risen dramatically, almost half involve four or more charges and children represent more than half of all reported sex assaults in Canada.He says his new law will protect children.“Sadly, there are truly evil people out there. We don’t understand them and we don’t care to. We understand only that they must be dealt with.”His new measures include requiring child sex crime sentences to be served consecutively. One after another, not at the same time. Especially when there are multiple victims.Also, increased maximum and minimum penalties and spouses of a person charged with child pornography may have to testify in court.Lianna McDonald from the Canadian Centre for Child Protection says longer sentences keep offenders from re-offending, as is often the case in child sex cases.“We also know one individual might have multiple victims. The sentence has not adequately reflected the number of those victims so … for some victims, it may not seem like what happened to them really mattered.”The Prime Minister says for too long, Canada’s criminal justice system has catered to criminals.“We all remember Gordon Stuckless, the man at the centre of the Maple Leaf Gardens abuse scandal. He pled guilty to molesting 24 boys over 20 years.”“He was paroled in 2001 after serving 3 years of his sentence. Three years, for 20 very serious offenses.”“Of course the victims have to cope for the rest of their lives with what such people have done to them.” read more

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