ICTSI marks P2 trillion market capitalization milestone

MANILA, Philippines — The Philippine Stock Exchange Inc. (PSE) has recognized the recent milestone of Enrique Razon Jr.’s International Container Terminal Services Inc. (ICTSI) by hosting a celebration to mark the company’s achievement of becoming the first domestic listed firm to reach a P2-trillion market capitalization.

PSE chairman Jose Pardo said a performance of such magnitude is never accidental.

“It reflects resilience, grit and leadership. Ricky (Razon) learned this industry from a veteran of the trade, but it is his own judgment and global ambition that carried ICTSI across borders and continents,” Pardo said.

ICTSI’s milestone was achieved when it closed with a P2.01-trillion market capitalization on July 14, 2026. 

Its market capitalization reached an all-time high of P2.07 trillion on July 20, 2026, after ICT’s share price closed at a record P1,027 apiece.

For his part, Razon, ICTSI chairman and president, said the company does not really watch its stock price or market cap. 

“But we watch our costs, our business, how we market it and what we do 24 hours a day,” the tycoon said.

“What ICTSI really is, is a company that gets things done – that’s the core of our business. We do not stop moving. We move and move and never, never stop,” he said.

Established in the Philippines in 1987, ICTSI collaborates with governments to modernize port infrastructure and enhance operational performance.

Pardo said ICTSI needed only 10 months to move from P1 trillion to P2 trillion in market capitalization. 

“Yet reaching that first trillion took 33 years – of discipline, of hard decisions and of the occasional calculated risk that separates builders from bystanders,” he said.

Pardo said that with ICTSI’s milestone, there is something larger at stake than one company’s achievement. 

“When a Philippine-born enterprise operates 33 terminals across 19 countries and six continents, and is recognized as a serious player in global trade infrastructure, it changes how the world sees us,” Pardo said. 

“It tells international capital that the Philippines does not simply participate in global commerce – it can build the companies that move it. Every milestone like this one strengthens the case for the Philippines as a place where world-class enterprises are made, not just hosted,” he said.