International Container Terminal Services Inc. (ICTSI) has set a new benchmark for the local stock market after becoming the first company on the Philippine Stock Exchange (PSE) to close with a market capitalization above P2 trillion.

ICTSI closed with a market capitalization of P2.01 trillion on Tuesday, which extended today as its market value rose to P2.02 trillion after its shares ended at a record P999 apiece.

The stock also hit an all-time intraday high of P1,020.

Investors’ confidence despite headwinds

PSE president and chief executive officer Ramon S. Monzon said the company’s ascent reflects investors’ confidence in the market despite external headwinds.

“Doubling its market cap less than 10 months after breaching the P1-trillion market capitalization is nothing short of extraordinary.

This performance speaks of confidence in the leadership of ICTSI chairman and president, Enrique K. Razon, Jr., and in the strategic direction of the company as it continues to expand its global port and logistics operations,” Monzon said.

ICTSI first breached the P1-trillion market capitalization mark on 17 September 2025.

ICTSI hit milestone twice on an intraday basis

Before closing above P2 trillion, the company had twice reached the milestone on an intraday basis — on 16 June, when its shares climbed to P995, and on 13 July, when they touched P1,000.

Operating 33 terminals in 19 countries, the company has been expanding in Latin America, Africa and Southeast Asia, where it has greater control over pricing, capacity, and investments.