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

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/entities/intl-container-term-svcs-inc" target="_blank" data-smartkarma-citation="entities:20001:1" rel="noopener">ICTSI (ICT PM)</a> received more positive newsflow as <a href="https://edge.pse.com.ph/openDiscViewer.do?edge_no=530c525096b43b9c64d70b69f0a3140b" target="_blank" rel="noopener">Victoria International and the Port of Melbourne </a>received contract extensions for another 26 years, bringing the lease term to 40 years. </li>
<li><span>We highlight <a target="_blank" rel="noopener">Westports Holdings (WPRTS MK): Solid Q4 FY25, Tariff Hikes To Catapult Profitability,</a> making it a steady grower for the next 3-4 years.</span></li>
<li>Following the offer to delist <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> at 36 pesos, 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> and <a href="https://www.smartkarma.com/entities/westports-holdings-bhd" target="_blank" data-smartkarma-citation="entities:3954:1" rel="noopener">Westports Holdings (WPRTS MK)</a> </li>
</ul>



ICTSI (ICT PM) received more positive newsflow as Victoria International and the Port of Melbourne received contract extensions for another 26 years, bringing the lease term to 40 years. 
We highlight Westports Holdings (WPRTS MK): Solid Q4 FY25, Tariff Hikes To Catapult Profitability, making it a steady grower for the next 3-4 years.
Following the offer to delist Asian Terminals (ATI PM) at 36 pesos, our top picks are ICTSI (ICT PM) and Westports Holdings (WPRTS MK) 


Container Port Terminal Screener: Feb 2026 -ICTSI Victoria Extension And Westports Great Q4

<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

<ul>
<li>
<a target="_blank">The initiation of A Container Port Terminal Product</a> introduced our rationale for covering companies that possess monopolistic/oligopolistic characteristics, as evidenced by their historic pricing/volume growth.</li>
<li>We initiated coverage on four such companies and have one in the pipeline on our screener, which we will initiate soon. </li>
<li>We like <a target="_blank">ICTSI (ICT PM)</a> for its global growth and <a target="_blank">Asian Terminals (ATI PM)</a> for its valuation, as well as pricing power, margins, ROCE, and other metrics. </li>
</ul>



The initiation of A Container Port Terminal Product introduced our rationale for covering companies that possess monopolistic/oligopolistic characteristics, as evidenced by their historic pricing/volume growth.
We initiated coverage on four such companies and have one in the pipeline on our screener, which we will initiate soon. 
We like ICTSI (ICT PM) for its global growth and Asian Terminals (ATI PM) for its valuation, as well as pricing power, margins, ROCE, and other metrics. 


Container Port Terminal Screener December 2025: Top Picks For FY26

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 301% versus MSCI ASEAN’s 64%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Four stocks remain, 10 stocks added into portfolio
Since its inception, the portfolio has generated a before-fee total return of 301% versus MSCI ASEAN’s 64%


Philippine Stock Exchange / Equity Bottom-Up

<ul>
<li>We established metrics focused on high ROCE, sustainable 10-15% YoY CAGR, robust balance sheets, and prudent capital allocation: essential elements for identifying potential multibagger opportunities in the Philippines.</li>
<li>Our top picks are: <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>, <a href="https://www.smartkarma.com/entities/keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">Keepers (KEEPR PM)</a>, <a href="https://www.smartkarma.com/entities/international-container-terminal-services-inc" target="_blank" data-smartkarma-citation="entities:20001:1" rel="noopener">International Container Terminal Services (ICT PM)</a>, and <a href="https://www.smartkarma.com/entities/philippine-stock-exchange-inc" target="_blank" data-smartkarma-citation="entities:23182:1" rel="noopener">Philippine Stock Exchange (PSE PM)</a> </li>
<li>With 3QFY26 earnings around the corner, we believe Philippine consumer discretionary stocks will be affected by inflationary concerns, but we still expect resilient margins.</li>
</ul>


We established metrics focused on high ROCE, sustainable 10-15% YoY CAGR, robust balance sheets, and prudent capital allocation: essential elements for identifying potential multibagger opportunities in the Philippines.
Our top picks are: Ginebra San Miguel (GSMI PM), Keepers (KEEPR PM), International Container Terminal Services (ICT PM), and Philippine Stock Exchange (PSE PM) 
With 3QFY26 earnings around the corner, we believe Philippine consumer discretionary stocks will be affected by inflationary concerns, but we still expect resilient margins.


Shortlist of High Conviction Philippines Equity Ideas - October 2026

Philippines

International Container Terminal Services, Inc. (ICTSI) is a global port management company specializing in acquiring, developing, managing, and operating common-user container ports and terminals worldwide. The company provides a range of services, including container handling, cargo handling, stevedoring, berthing, storage, and services for refrigerated containers. ICTSI is headquartered in Manila, Philippines, and was established in December 1987.

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International Container Terminal Services (ICT PM)

Container Port Terminal Screener: Feb 2026 -ICTSI Victoria Extension And Westports Great Q4

We provide updates on ICT, Westports, and ATI in our container port terminal universe. Due to their monopolistic positions in their markets these...

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

Container Port Terminal Screener December 2025: Top Picks For FY26

Within container port terminal operators, we favor ICTSI (PM) and ATI (PM). With ROCE >20% and solid structural growth, we view both as high...

Sameer Taneja

The Stocks to Own in ASEAN – Vol. 55

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Four stocks remain, 10 stocks added.

A. Stotz Investment Research

Shortlist of High Conviction Philippines Equity Ideas - October 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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