Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. 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 Analyst

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

ICTSI (ICT PM): Terminal Operator, Serial Grower With Pricing Power, 20% ROCE, 30% Net Margins

Container Port Terminal Screener October 2025: Delay of The MMC Port IPO

Asian Terminals Inc (ATI PM): Steady And Cheap Container Port Terminal Operator

Westports Holdings (WPRTS MK): A Steady Pricing Growth Led Story

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 follow our initiations on <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> 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> with the <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> .</li>
<li>The company has shown strong pricing power, significantly raising its access charges at MetroPort starting September 1, 2025, to over NZ$130/transaction.</li>
<li>Despite this, based on our numbers, the stock trades at 26.6x/22x FY25/26 PE (ex-freehold land value). We believe this is expensive and would be neutral on the name. </li>
</ul>


We follow our initiations on Westports Holdings (WPRTS MK) and Asian Terminals (ATI PM) with the Port of Tauranga (POT NZ) .
The company has shown strong pricing power, significantly raising its access charges at MetroPort starting September 1, 2025, to over NZ$130/transaction.
Despite this, based on our numbers, the stock trades at 26.6x/22x FY25/26 PE (ex-freehold land value). We believe this is expensive and would be neutral on the name. 


Port of Tauranga (POT NZ): High Quality But Fairly Valued