Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>We are gradually building a high-conviction coverage of ideas for mid and small-cap companies in the Philippines.</li>
<li>We established metrics focused on high ROCE, sustainable 10-15% YoY growth, robust balance sheets, and prudent capital allocation —essential elements for identifying potential multi-bagger opportunities.</li>
<li>Our top picks are <a href="https://www.smartkarma.com/entities/intl-container-term-svcs-inc" target="_blank" data-smartkarma-citation="entities:20001:1" rel="noopener">ICTSI (ICT PM)</a>, <a href="https://www.smartkarma.com/entities/the-keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">The Keepers Holdings (KEEPR PM)</a>, and <a href="https://www.smartkarma.com/entities/ginebra-san-miguel-inc" target="_blank" data-smartkarma-citation="entities:23029:1" rel="noopener">Ginebra San Miguel (GSMI PM)</a>. The recent offer to delist moves <a href="https://www.smartkarma.com/entities/asian-terminals-inc" target="_blank" data-smartkarma-citation="entities:22959:1" rel="noopener">Asian Terminals (ATI PM)</a> out. </li>
</ul>


We are gradually building a high-conviction coverage of ideas for mid and small-cap companies in the Philippines.
We established metrics focused on high ROCE, sustainable 10-15% YoY growth, robust balance sheets, and prudent capital allocation —essential elements for identifying potential multi-bagger opportunities.
Our top picks are ICTSI (ICT PM), The Keepers Holdings (KEEPR PM), and Ginebra San Miguel (GSMI PM). The recent offer to delist moves Asian Terminals (ATI PM) out. 


Shortlist of High Conviction Philippines Equity Ideas - January 2026

International Container Terminal Services / Equity Bottom-Up

International Container Terminal Services (ICT PM)

International Container Terminal Services

<ul>
<li>
<a href="https://www.smartkarma.com/insights/initiation-of-a-container-port-terminal-product" target="_blank" data-smartkarma-citation="insights:195276" rel="noopener">Initiation of A Container Port Terminal Product</a>: introduced our rationale for covering companies that exhibit monopolistic/oligopolistic characteristics, as evidenced by their historical pricing/volume growth. We initiated with four companies.</li>
<li>Exactly five months after our initiation, <a href="https://www.smartkarma.com/insights/asian-terminals-inc-ati-pm-steady-and-cheap-container-port-terminal-operator" target="_blank" data-smartkarma-citation="insights:192234" rel="noopener">Asian Terminals Inc (ATI PM): Steady And Cheap Container Port Terminal Operator</a>, an offer to delist has been made at 36 pesos/share. </li>
<li>Currently our top pick in the sector is <a href="https://www.smartkarma.com/entities/intl-container-term-svcs-inc" target="_blank" data-smartkarma-citation="entities:20001:1" rel="noopener">ICTSI (ICT PM)</a> which just got approval for its Durban Port acquisition and has been actively buying back stock. </li>
</ul>



Initiation of A Container Port Terminal Product: introduced our rationale for covering companies that exhibit monopolistic/oligopolistic characteristics, as evidenced by their historical pricing/volume growth. We initiated with four companies.
Exactly five months after our initiation, Asian Terminals Inc (ATI PM): Steady And Cheap Container Port Terminal Operator, an offer to delist has been made at 36 pesos/share. 
Currently our top pick in the sector is ICTSI (ICT PM) which just got approval for its Durban Port acquisition and has been actively buying back stock. 


Container Port Terminal Screener: Jan 2026 - ICTSI Durban Port Approval And Buy-Backs, ATI Delisting

Plover Bay Technologies / Equity Bottom-Up

<ul>
<li>We compile our selection of small- and mid-cap names with the desired characteristics of high dividend yields, value, and a margin of safety.</li>
<li>With the most recent tender offer for <a target="_blank">Asian Terminals (ATI PM)</a> at 36 pesos/share, our journey here might conclude soon, and it will be off our top picks list.</li>
<li>Following this, our updated top picks for FY26 are <a target="_blank">The Keepers Holdings (KEEPR PM)</a>, <a target="_blank">Taste Gourmet (8371 HK)</a>, <a target="_blank">Philippine Stock Exchange (PSE PM)</a>, and <a target="_blank">Ginebra San Miguel (GSMI PM)</a>.</li>
</ul>


We compile our selection of small- and mid-cap names with the desired characteristics of high dividend yields, value, and a margin of safety.
With the most recent tender offer for Asian Terminals (ATI PM) at 36 pesos/share, our journey here might conclude soon, and it will be off our top picks list.
Following this, our updated top picks for FY26 are The Keepers Holdings (KEEPR PM), Taste Gourmet (8371 HK), Philippine Stock Exchange (PSE PM), and Ginebra San Miguel (GSMI PM).


Shortlist Of High Conviction Ideas: Income, Value, and Margin of Safety-December- Picks for 2026

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ane-cayman-inc" target="_blank" data-smartkarma-citation="entities:35025:1" rel="noopener">ANE Cayman (9956 HK)</a>'s Scheme Doc is out, absent any reference to CDH (holding an estimated 18%). Given precedents with similar fact patterns, this is probably one deal to avoid.</li>
<li>
<a href="https://www.smartkarma.com/entities/hogy-medical-co-ltd" target="_blank" data-smartkarma-citation="entities:10493:1" rel="noopener">Hogy Medical (3593 JP)</a>'s Offer Price is more than expected; but the fact that Dalton , who really wanted to sell, but isn't selling, suggests the price should be higher.</li>
<li>8th January vote on <a href="https://www.smartkarma.com/entities/hsbc-holdings-plc" target="_blank" data-smartkarma-citation="entities:516:1" rel="noopener">HSBC (5 HK)</a>'s Offer for <a href="https://www.smartkarma.com/entities/hang-seng-bank-ltd" target="_blank" data-smartkarma-citation="entities:24:1" rel="noopener">Hang Seng Bank (11 HK)</a>.  Safe deal. This is effectively a term deposit hybrid.</li>
</ul>



ANE Cayman (9956 HK)'s Scheme Doc is out, absent any reference to CDH (holding an estimated 18%). Given precedents with similar fact patterns, this is probably one deal to avoid.

Hogy Medical (3593 JP)'s Offer Price is more than expected; but the fact that Dalton , who really wanted to sell, but isn't selling, suggests the price should be higher.
8th January vote on HSBC (5 HK)'s Offer for Hang Seng Bank (11 HK).  Safe deal. This is effectively a term deposit hybrid.


Last Week In Event SPACE: ANE Cayman. Hogy Medical, Hang Seng, Zhejiang Sanhua Intelligent

<ul>
<li>We are gradually building a high-conviction coverage of ideas for mid and small-cap companies in the Philippines.</li>
<li>We established metrics focused on high ROCE, sustainable 10-15% YoY growth, robust balance sheets, and prudent capital allocation —essential elements for identifying potential multi-bagger opportunities.</li>
<li>We turn our attention to the top picks for 2026. Our overwhelming favorite is  <a href="https://www.smartkarma.com/entities/the-keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">The Keepers Holdings (KEEPR PM)</a>, but we also highlight four other names. </li>
</ul>


We are gradually building a high-conviction coverage of ideas for mid and small-cap companies in the Philippines.
We established metrics focused on high ROCE, sustainable 10-15% YoY growth, robust balance sheets, and prudent capital allocation —essential elements for identifying potential multi-bagger opportunities.
We turn our attention to the top picks for 2026. Our overwhelming favorite is  The Keepers Holdings (KEEPR PM), but we also highlight four other names. 


Shortlist of High Conviction Philippines Equity Ideas - December 2025, And Top Pick For 2026

Philippines

Asian Terminals, Inc. (ATI) is a Philippine Stock Exchange-listed port operator, developer, and investor. It operates and manages strategic seaports in the Philippines, including Manila South Harbor, the Port of Batangas, and off-dock container yards. ATI provides comprehensive port and logistics services for containerized and non-containerized cargoes, bulk and break-bulk shipments, and passengers. The company was incorporated on July 9, 1986, and is headquartered in Manila, Philippines.

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Asian Terminals (ATI PM)

Shortlist of High Conviction Philippines Equity Ideas - January 2026

We compile our selection of small and mid-cap names with desired characteristics of high dividend yields, value, and margin of safety, and updates...

Sameer Taneja

Container Port Terminal Screener: Jan 2026 - ICTSI Durban Port Approval And Buy-Backs, ATI Delisting

We summarize updates for the sector over the last few weeks. Our top picks ICTSI PM and ATI PM have interesting developments which we highlight in...

Sameer Taneja

Shortlist Of High Conviction Ideas: Income, Value, and Margin of Safety-December- Picks for 2026

We compile our selection of small and mid-cap names, focusing on those with the desired characteristics of high dividend yields, value, and a...

Sameer Taneja

Last Week In Event SPACE: ANE Cayman. Hogy Medical, Hang Seng, Zhejiang Sanhua Intelligent

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Shortlist of High Conviction Philippines Equity Ideas - December 2025, And Top Pick For 2026

We compile our selection of small and mid-cap names with desired characteristics of high dividend yields, value, and margin of safety, and updates...

Sameer Taneja

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52-week Range

Market Cap (USDm)

P/E

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