Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Security Federal

Market Cap: US$106.0m

Operates as the bank holding company for Security Federal Bank that provides various banking products and services.

Liburnia Riviera Hoteli d.d

Market Cap: €151.3m

Provides accommodation and hospitality services in Croatia, Germany, Austria, Italy, Hungary, Slovenia, Ukraine, Czech, other European countries, and internationally.

Morris State Bancshares

Market Cap: US$268.1m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

Tri-County Financial Group

Market Cap: US$119.0m

Operates as a bank holding company for First State Bank, providing various banking and mortgage banking services and insurance services to individuals and businesses in the United States.

Banyan Tree Holdings

Market Cap: S$589.5m

An investment holding company, operates as a hospitality company in Singapore, rest of South East Asia, Indian Oceania, the Middle East, North East Asia, and internationally.

Indo Tech Transformers

Market Cap: ₹12.4b

Manufactures and sells transformers in India and internationally.

Enviro Infra Engineers

Market Cap: ₹29.3b

Engages in the design, construction, operation, and maintenance of water and wastewater treatment plants (WWTPs) and water supply scheme projects (WSSPs) for government authorities and bodies in India.

Najran Cement

Market Cap: ر.س1.1b

Engages in manufacture and sale of cement products in the Kingdom of Saudi Arabia.

Nofoth Food Products

Market Cap: ر.س852.6m

Produces and sells bakery products in Saudi Arabia.

Surya Toto Indonesia

Market Cap: Rp2.8t

Manufactures and sells sanitary, fittings, kitchen systems, and other related products in Indonesia and internationally.

Ibrahim Fibres

Market Cap: PK₨80.9b

Manufactures and sells polyester staple fiber (PSF) and yarn products in Pakistan, Singapore, and Switzerland.

JB Foods

Market Cap: S$232.2m

An investment holding company, engages in the production and sale of cocoa ingredient products primarily in Singapore, Malaysia, Indonesia, the People’s Republic of China, and the United States.

Insolation Energy

Market Cap: ₹21.8b

Engages in the manufacture and sale of solar panels and modules under INA brand name in India.

First Investment Company K.S.C.P

Market Cap: د.ك53.5m

First Investment Company K.S.C.C. is a Shariah compliant privately owned investment manager.

Vidhi Specialty Food Ingredients

Market Cap: ₹15.5b

Engages in manufacture and trading of synthetic food colors.

3B Blackbio Dx

Market Cap: ₹13.6b

Engages in the design, development, manufacturing, and commercialization of molecular diagnostic solutions for infectious diseases, oncology, human genetics and antimicrobial resistance in India.

Cigniti Technologies

Market Cap: ₹44.9b

Provides digital assurance and software testing services in India, the United States of America, and internationally.

Southern Michigan Bancorp

Market Cap: US$115.1m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Tai Sin Electric

Market Cap: S$237.0m

Manufactures and deals in cable and wire products in Singapore, Malaysia, Brunei, Vietnam, Indonesia, Myanmar, Cambodia, Thailand, and internationally.

Jamuna Bank

Market Cap: ৳21.4b

Provides various banking products and services in Bangladesh.

Menthobi Karyatama Raya

Market Cap: Rp1.8t

Engages in the cultivation and development of palm oil plantations; and crude palm oil processing activities and related derivative products primarily in Indonesia.

Yibin City Commercial Bank

Market Cap: HK$12.0b

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

Daphne International Holdings

Market Cap: HK$791.4m

An investment holding company, engages in the licensing, distribution, and sale of footwear products and accessories in Mainland China.

Lion Rock Group

Market Cap: HK$1.0b

An investment holding company, provides printing services to international book publishers, trade, professional, and educational publishing conglomerates, as well as print media companies.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.4b

Provides business and digital technology solutions in the Kingdom of Saudi Arabia.

Taiyo KagakuLtd

Market Cap: JP¥44.5b

Manufactures and sells functional food ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

Buana Artha Anugerah

Market Cap: Rp3.0t

Engages in the provision of asset management services in Indonesia.

MKH Berhad

Market Cap: RM 605.7m

An investment holding company, engages in the property development and construction, plantation, hotel and property investment, and other activities in Malaysia, the Peoples’ Republic of China, and Indonesia.

Surya Citra Media

Market Cap: Rp19.3t

Provides multimedia services in Indonesia.

Sambhv Steel Tubes

Market Cap: ₹24.3b

Manufactures and sells electric resistance welded steel pipes, structural tubes, and stainless-steel coils in India.

Nusantara Pelabuhan Handal

Market Cap: Rp3.0t

Manages and operates container terminals in Indonesia and internationally.

Onix Solar Energy

Market Cap: ₹14.5b

Engages in the trading of non-ferrous metals in India.

Digital Mediatama Maxima

Market Cap: Rp2.4t

Operates an integrated marketing platform in Indonesia.

Cita Mineral Investindo

Market Cap: Rp19.8t

Engages in bauxite mining activities in Indonesia.

Fortune Mate Indonesia

Market Cap: Rp1.9t

Provides real estate development and construction services in Indonesia.