Description:

Poro Point Management Corporation (PPMC), led by its President & CEO and OIC Chairman of the Board, Atty. Felix S. Racadio conducted its Annual Stockholders’ Meeting on July 17, 2025, at Baguio City.

During the meeting, attended face to face and via Zoom Teleconferencing, by all the PPMC Board Members, PPMC MANCOM Members, PPMC Staff and Support Group, and with the active participation and guidance of BCDA Directors Roberto A. Flores and Leon Gonzalo G. Montemayor, duly representing BCDA’s interest and ownership with super majority of stocks in the name of BCDA, PPMC President and CEO, Atty. Felix S. Racadio, highlighted the PPMC’s performance and accomplishments for the fiscal year 2024, despite many adversed facts circumstances and challenges faced, PPMC remained steadfast and committed to its mission of transforming the Poro Point Freeport Zone (PPFZ) into an innovative economic engine of growth in the North.

Atty. Felix S. Racadio reported to the PPMC’s Stockholders updates on important achievements, including:

✅ 11.95% Increase in Zone Revenue from 2023-2024.
✅ 11th consecutive year of positive net income with ₱14.74M.
✅ Dividend remittance of ₱10.48M to the National Government.
✅ Zero COA Audit suspensions. charges, and disallowances from 2014 to 2024 a period of 10 years.
✅ Seamless turnover of the San Fernando International Seaport (PPIC) operations from PPIC to BCDA-PPMC.
✅ Strategic lease agreements, including a potable water infrastructure project Contract with SWRI inside the PPFZ with no money from the government.
✅ Notable growth in aviation and seaport operations.
✅ Active participation in local and international investment promotion activities.
✅ Continued infrastructure upgrades and environmental compliance.
✅ ISO 9001:2015 Quality Management System certification with zero non-conformities.
✅ Exceptional Client Satisfaction Rating of 99.26%.
✅ Sustained Corporate Social Responsibility efforts under the HELPS Program.
✅ Strengthened Gender and Development initiatives.

PPMC’s strong financial position, good governance, honesty and dedication to an inclusive and sustainable development continue to drive PPFZ’s long-term growth.

Atty. Felix S. Racadio extended its gratitude to the BCDA and its Board of Directors and officials, partner agencies, stakeholders, and the local community for the unwavering support and collaboration, specially His Excellency, President Ferdinand R. Marcos, Jr.