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

Saigon Cargo Services (SCS VN): Q4 2024 And FY24 Analysis, Updates and More

Saigon Cargo Services Solid Q1 2025: 75% Operating Margin and 45% ROCE Intact

Sai Gon Cargo Service (SCS VN) Q2 FY25: Maintaining 75% Operating Margins and 50% ROCEs

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

Sai Gon Cargo Service  / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sai-gon-cargo-service-corp" target="_blank" data-smartkarma-citation="entities:40374:1" rel="noopener">Sai Gon Cargo Service (SCS VN)</a> experienced a robust start to Q4 with October volumes up 8.8% YoY (led by international volume growth of 16% YoY). </li>
<li>On the 9MFY25 trajectory, despite the increase in corporate tax from 11% to 20%, the company will still achieve 5-6% YoY earnings growth, placing it at 7.2x PE FY25e.</li>
<li>The company faces ongoing risk from potential volume migration to Long Thanh Airport Terminal 2, slated to begin operations in early 2027, which is expected to divert international cargo.</li>
</ul>



Sai Gon Cargo Service (SCS VN) experienced a robust start to Q4 with October volumes up 8.8% YoY (led by international volume growth of 16% YoY). 
On the 9MFY25 trajectory, despite the increase in corporate tax from 11% to 20%, the company will still achieve 5-6% YoY earnings growth, placing it at 7.2x PE FY25e.
The company faces ongoing risk from potential volume migration to Long Thanh Airport Terminal 2, slated to begin operations in early 2027, which is expected to divert international cargo.


Airports Corporation Of Viet Nam (ACV VN)

Sai Gon Cargo Service (SCS VN): Robust Start To Q4, 7.2x PE/11% Dividend Yield/Net Cash/50% ROCE