NEWS AROUND SUBIC BAY

SBMA sees 15% revenue increase from Subic ICT sector

Posted 2 months ago


The Subic Bay Metropolitan Authority (SBMA) is projecting a 15 percent increase this year in revenue generation from the Information and Communication Technology (ICT) sector in this free port after posting an average monthly income of P6 million in the past five months.

SBMA Administrator and CEO Wilma T. Eisma said the agency’s Business and Investment Department for ICT has made the forecast after a consistent growth that has eclipsed 2017 revenue targets.
She said that with an average monthly collection of P6 million, the agency’s BID-ICT is expecting to generate around P76.4 million at the end of the year. “This would be 15.64 percent higher than the revenue we posted for ICT in 2016,” Eisma said.

 SBMA sees 15% revenue increase from Subic ICT sector

The BID-ICT, which handles locators engaged in business process outsourcing (BPO), business process management (BPM), and other related industries, has collected a total of P68,314,258 in revenue for 2016, said Cleofe Espineli, who heads the department.
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At last count, there are 95 locators engaged in ICT inside the Subic Freeport, said Espineli. These are infusing more than P32.17 billion worth of investments and employing nearly 2,000 Filipinos.

Espineli added that as of May this year, BID-ICT has already recorded a total revenue of P29,902,215, which is 35.15 percent higher than its 2017 revenue target.

She also said that BID-ICT is currently processing the expansions of some existing locators that will result in additional committed investments of P273 million and additional 608 personnel.

When completed, the expansion projects will generate additional revenue of P15.1 million for the SBMA.

“With my team’s commitment, determination and malasakit for SBMA, we will deliver the best that we can. We wanted to be part of the SBMA team that keeps winning,” Espineli also said.

Earlier, SBMA Administrator Wilma Eisma reported that in terms of over-all financial performance, SBMA posted P1.25 billion in revenue for January to May of 2017, which is 7.7 percent higher than the P1.16 billion in the same period last year.

“But the most interesting fact here is that the SBMA has already posted a net income P240.21 million from January to May this year, or 126 percent higher than the P106 million that was posted last year in the same period,” Eisma noted.

“Even if there are clouds over our heads that trouble our beloved agency, let us continue to perform with excellence and malasakit so that we will continue to contribute bigger shares to the government than ever before,” Eisma also said

First Published: subicnewslink.blogspot.com

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