Two-trillion-peso company

Last week, the Philippine Stock Exchange (PSE) celebrated the incredible growth of International Container Terminal Services Inc (ICT), marking the first Filipino company to reach a P2 trillion market capitalization. ICT's chairman and president, Ricky Razon, credited their success to discipline and hard work, stating, "performance of this magnitude is never accidental.

It reflects resilience, grit and leadership." The company, which began as a single port in Manila, has expanded to operate 34 ports in 19 countries and six continents, ranking eighth globally in terms of throughput volume.

ICT, initially valued at P6.70 per share during its IPO in 1992, has delivered an astounding return of 164,000 percent since its debut. Its market cap increased from P1.4 billion to its current valuation of P1.9 trillion, a 164,000 percent growth. This remarkable expansion took ICT 34 years to achieve, but only nine months to double its market value. With a weight of 26.4 percent in the PSE Index and 43.0 percent in the MSCI Philippines Index, ICT is a dominant force in the country's stock market.

Ricky Razon, Forbes' richest man in the Philippines with an estimated net worth exceeding $20 billion, is the second wealthiest man in Southeast Asia. Apart from ICT, he holds controlling stakes in Manila Water Co. Inc., Bloomberry Resorts Corp., and Apex Mining Company Inc. Known for his dedication, hard work, and passion for his job, Ricky's deep understanding of ports, gained from his father's extensive industry experience, has been instrumental in ICT's success.

His leadership, intelligence, and foresight have allowed the company to thrive during economic downturns, offering valuable lessons for investors.