LOCSIN REJOINS ATI AS INDEPENDENT DIRECTOR

Former Foreign Secretary Teodoro Locsin is returning to the corporate world by serving anew as an independent director for Asian Terminals Inc. (ATI).

On Friday, the listed firm announced that Locsin was elected as an independent director, serving the unexpired term of Roberto Cecilio Ong Lim who had resigned effective Aug. 2.

Locsin was in the same position in ATI in 2010 to 2018 before stepping down to join Pres. Duterte’s administration.

He was appointed as the Philippine representative to the Nations based in New York in 2017, after which he joined the Cabinet as Foreign Affairs Secretary.

From 2001 to 2010, Locsin was a member of the House of Representatives.

Locsin was legal counsel and speechwriter to former President Corazon Aquino. He also wrote speeches for former presidents Joseph Estrada and Gloria Macapagal-Arroyo.

He earned his law degree from the Ateneo de Manila University and Master of Laws from Harvard University.

This year, ATI has earmarked over P5 billion worth of capital expenditures to imning its major port gateways in Manila, Batangas and Laguna and expand the yard and berth facilities amid increasing container volumes.

The capital expenditure, in addition, will cover the purchase of more modern and eco-friendly equipment in step with its growth strategy and in line with its investment commitment with the port authority.

Expanding the facilities in Manila South Harbor, ATI said, would boost the trade gateway’s annual throughput capacity to nearly 2 million TEUs (twenty-foot equivalent units) by 2024 from 1.4 million TEUs now.