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>Reports now out that the <a href="https://www.smartkarma.com/entities/mmc-port-holdings-berhad" target="_blank" data-smartkarma-citation="entities:45442:1" rel="noopener">MMC Port Holdings Berhad (2436494D MK)</a> IPO could be delayed by <a href="https://theedgemalaysia.com/node/768094" target="_blank" rel="noopener">some months</a>, as issues have arisen due to the lofty valuations.  </li>
<li>
<a href="https://www.smartkarma.com/entities/port-of-tauranga-ltd" target="_blank" data-smartkarma-citation="entities:3739:1" rel="noopener">Port of Tauranga (POT NZ)</a> reported strong results for FY25, and we expect strong guidance at its AGM in October for FY26. </li>
<li>We continue to favor <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/asian-terminals-inc" target="_blank" data-smartkarma-citation="entities:22959:1" rel="noopener">Asian Terminals (ATI PM)</a> due to their duopoly position and control over pricing.</li>
</ul>


Reports now out that the MMC Port Holdings Berhad (2436494D MK) IPO could be delayed by some months, as issues have arisen due to the lofty valuations.  

Port of Tauranga (POT NZ) reported strong results for FY25, and we expect strong guidance at its AGM in October for FY26. 
We continue to favor ICTSI (ICT PM) and Asian Terminals (ATI PM) due to their duopoly position and control over pricing.


Container Port Terminal Screener September 2025: Strong Result For POT NZ

<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

<ul>
<li>This is a short insight, informing readers that we intend to initiate a container port terminal product, following our recent initiation on <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> </li>
<li>This product will be followed by initiations on high-quality companies like <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> / <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/port-of-tauranga-ltd" target="_blank" data-smartkarma-citation="entities:3739:1" rel="noopener">Port of Tauranga (POT NZ)</a>, etc, and a monthly screen.
</li>
<li>In this insight, we will highlight our rationale for introducing this product and outline the screening metrics for companies. </li>
</ul>


This is a short insight, informing readers that we intend to initiate a container port terminal product, following our recent initiation on Asian Terminals (ATI PM) 
This product will be followed by initiations on high-quality companies like Westports Holdings (WPRTS MK) / ICTSI (ICT PM) / Port of Tauranga (POT NZ), etc, and a monthly screen.

In this insight, we will highlight our rationale for introducing this product and outline the screening metrics for companies. 


Initiation of A Container Port Terminal Product

Philippine Stock Exchange / 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 focusing on high ROCE, sustainable growth of 10-15% year-over-year, robust balance sheets, and prudent capital allocation, essential elements for identifying potential multi-bagger opportunities.</li>
<li>We update our readers on developments in <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> 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>
</ul>


We are gradually building a high-conviction coverage of ideas for mid and small-cap companies in the Philippines.
We established metrics focusing on high ROCE, sustainable growth of 10-15% year-over-year, robust balance sheets, and prudent capital allocation, essential elements for identifying potential multi-bagger opportunities.
We update our readers on developments in Asian Terminals (ATI PM) and Philippine Stock Exchange (PSE PM) 


Shortlist of High Conviction Philippines Equity Ideas - June 2025

<ul>
<li>We strongly recommend looking at container port terminal companies with monopoly/ duopoly, or oligopoly dynamics, as pricing power appears strong there. </li>
<li>After their 30% tariff hike, <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> reported a strong Q3, and <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>, following tariff hikes across most of its ports, also reported 25% earnings growth. </li>
<li>We like <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> for its cheap valuation/duopoly and <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> for its strategy of acquiring terminals with a monopolistic presence. </li>
</ul>


We strongly recommend looking at container port terminal companies with monopoly/ duopoly, or oligopoly dynamics, as pricing power appears strong there. 
After their 30% tariff hike, Westports Holdings (WPRTS MK) reported a strong Q3, and ICTSI (ICT PM), following tariff hikes across most of its ports, also reported 25% earnings growth. 
We like Asian Terminals (ATI PM) for its cheap valuation/duopoly and ICTSI (ICT PM) for its strategy of acquiring terminals with a monopolistic presence. 


Container Port Terminal Screener November 2025: Strong Structural Future Growth And Great Q3 Results

Philippines

International Container Terminal Services, Inc. provides containerized cargo handling services. The Company also manages and operates the Manila International Container Terminal and port.

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ICTSI (ICT PM)

Container Port Terminal Screener September 2025: Strong Result For POT NZ

We provide updates on the container port terminal companies, which we believe have pricing power and are primed to steadily increase their earnings...

Sameer Taneja

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

Initiation of A Container Port Terminal Product

We will soon initiate coverage on five high-quality container port terminal companies. This insight lays the foundation for covering them as well...

Sameer Taneja

Shortlist of High Conviction Philippines Equity Ideas - June 2025

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 November 2025: Strong Structural Future Growth And Great Q3 Results

We provide updates on container port terminal companies that we believe have pricing power and are well-positioned to steadily increase earnings...

Sameer Taneja

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