Tan Cang – Long Binh ICD JSC (HOSE: ILB) is a subsidiary of Saigon Newport Corporation (SNP). ILB is currently among the largest inland container depots (ICD) in Vietnam and has an advantageous location in the center of Vietnam’s southern key economic region (details on pages 4-5). ILB’s PBT grew 28% YoY to VND51bn in H1 2021 due to (1) a recovery in logistics demand and (2) the operation of a new warehouse system. ILB is currently trading in line with our selected peer group median