Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Bahrain National Holding Company B.S.C

Market Cap: ب.د60.1m

Bahrain National Holding Company B.S.C., together with its subsidiaries, asset management services in the Kingdom of Bahrain and other GCC countries.

Mulpha International Bhd

Market Cap: RM 912.4m

An investment holding company, invests in the real estate and hospitality sectors in Malaysia, Australia, and New Zealand.

TSTE

Market Cap: ฿4.1b

Primarily engages in the production and distribution of food, ingredients, and confectionery products in Thailand.

Yibin City Commercial Bank

Market Cap: HK$12.1b

Provides banking and financial products and services to small and micro enterprises in the People’s Republic of China.

HG Metal Manufacturing

Market Cap: S$160.7m

An investment holding company, primarily trades in steel products in Indonesia, Malaysia, Myanmar, and Singapore.

Invalda INVL

Market Cap: €335.2m

A private equity firm specializing in investments in small and middle-market privately held companies, industry consolidation, mature, growth capital, early venture, mid venture, later stage, acquisitions, and buyouts in undervalued assets.

Krom Bank Indonesia

Market Cap: Rp17.3t

Provides banking products and services in Indonesia.

Jamuna Bank

Market Cap: ৳22.1b

Provides various banking products and services in Bangladesh.

Padma Oil

Market Cap: ৳17.3b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

Saha-Union

Market Cap: ฿7.9b

Engages in plastic, rubber and metal, chemicals, trading, energy, hotel, investment, and other businesses.

Palasino Holdings

Market Cap: HK$1.6b

Through its subsidiaries, engages in the gaming and hotel businesses in the Czech Republic, Germany, and Austria.

Cahaya Aero Services

Market Cap: Rp4.0t

Provides cargo and ground handling services in Indonesia.

AB Akola Group

Market Cap: €286.6m

Through its subsidiaries, engages in the production, preparation, and sale of agricultural and food products in Lithuania, Scandinavian, rest of Europe, Africa, Asia, and CIS countries.

Tohoku Steel

Market Cap: JP¥16.4b

Manufactures, processes, and distributes various types of special steel products in Japan.

New Mauritius Hotels

Market Cap: MU₨7.2b

Operates hotels in Mauritius, Europe, Morocco, and internationally.

Sun

Market Cap: MU₨7.2b

Operates in the tourism sector.

Ceylinco Holdings

Market Cap: LK₨72.9b

Ceylinco Holdings PLC underwrites various classes of general and life insurance products primarily in Sri Lanka.

Al Wathba National Insurance Company PJSC

Market Cap: د.إ629.3m

Engages in general insurance and reinsurance business in the United Arab Emirates and internationally.

Tureks Turizm Tasimacilik Anonim Sirketi

Market Cap: ₺8.7b

Engages in group transportation, and fleet and individual vehicle rental activities in Turkey.

Bijou Brigitte modische Accessoires

Market Cap: €361.2m

Manufactures, imports, and sells fashion jewelry, gold and silver jewelry, fashion accessories, and complementary articles.

Mangold Fondkommission

Market Cap: SEK 932.3m

Provides financial services to companies, institutions, and private individuals in Sweden.

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺8.5b

Produces and sells food products in Turkey.

Ilex Medical

Market Cap: ₪646.1m

Engages in import, marketing, distribution, and sale of diagnostic products, kits, and consumables in Israel, South Africa, and internationally.

A3 Mercados

Market Cap: AR$759.3b

Operates as a market for negotiable securities in Argentina and internationally.

ASA Gold and Precious Metals

Market Cap: US$1.3b

A publicly owned investment manager.

Wasko

Market Cap: zł643.8m

Designs, implements, and integrats software, information systems, and advanced industrial automation.

First Bancorp

Market Cap: US$330.7m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

Terminal X Online

Market Cap: ₪1.0b

Engages in the marketing and sale of fashion and lifestyle products in Israel.

Nigerian Aviation Handling

Market Cap: ₦354.7b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺32.5b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

Central Forest Group

Market Cap: JP¥22.8b

Engages in the wholesale of food, alcoholic beverages, and other related consumer products in Japan.

Upbest Group

Market Cap: HK$1.8b

An investment holding company, provides financial services in Hong Kong, Macau, and the People’s Republic of China.

Hafary Holdings

Market Cap: S$204.5m

An investment holding company, engages in import, export, dealing, distribution, wholesale, and trading in building materials.

Soma Gold

Market Cap: CA$210.8m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.

Pasifik Holding

Market Cap: ₺31.6b

Through its subsidiaries, engages in providing diversified range of services in various sectors.