April 21 (Reuters) - International Container Terminal Services Inc ICT.PS Chairman Enrique Razon, in a speech at an annual stockholders' meeting, said
* 2016 capex budget set at $420 million, mainly allocated for projects in Congo, Iraq and Australia
* 2015 capex was $353.5 million
* Management asked to look for ways to cut costs to mitigate effects of contracting global economy Further company coverage: ICT.PS