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$106.7m

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

Jordanian Duty Free Shops

Market Cap: د.أ140.0m

Invests in, operates, and manages duty-free shops.

First Investment Bank AD

Market Cap: €459.2m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Thai Steel Cable

Market Cap: ฿3.7b

Manufactures and distributes automobile and motorcycle control cables, and automobile window regulators in Thailand.

MAPFRE Middlesea

Market Cap: €145.4m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

Hextar Global Berhad

Market Cap: RM 3.2b

An investment holding company, engages in manufacturing, trading, and distribution of a various agrochemicals and fertilisers in Malaysia.

Surya Citra Media

Market Cap: Rp18.4t

Provides multimedia services in Indonesia.

3B Blackbio Dx

Market Cap: ₹10.2b

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

Transnational

Market Cap: ₦472.0b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Piccadily Agro Industries

Market Cap: ₹55.1b

Manufactures and develops alcoholic beverages in India.

Joyce

Market Cap: AU$169.4m

Joyce Corporation Ltd retails kitchen and wardrobe products in Australia.

Padma Oil

Market Cap: ৳17.3b

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

Hindustan Construction

Market Cap: ₹45.3b

Provides engineering and construction services in India and internationally.

PC Jeweller

Market Cap: ₹78.4b

Manufactures, sells, and trades in gold, diamond, silver articles, precious stone, and gold and diamond studded jewelry in India.

Goldiam International

Market Cap: ₹38.2b

Manufactures and sells gold/silver/platinum and diamond studded jewelry products in India.

Central Forest Group

Market Cap: JP¥22.5b

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

Indo Tech Transformers

Market Cap: ₹15.2b

Manufactures and sells transformers in India and internationally.

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.

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.

Banyan Tree Holdings

Market Cap: S$524.9m

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.

JB Foods

Market Cap: S$227.0m

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.

AIICO Insurance

Market Cap: ₦152.6b

Provides risk underwriting and related financial services in Nigeria.

Wema Bank

Market Cap: ₦1.0t

Provides banking and other financial services to corporate and individual customers in Nigeria.

Santa Phoenix Technology

Market Cap: NT$5.3b

Designs and manufactures semiconductors in Taiwan.

Anpec Electronics

Market Cap: NT$16.4b

Engages in the design, testing, production, and marketing of mixed-signal power chips and sensors in Taiwan and internationally.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.3b

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

AMCIL

Market Cap: AU$300.4m

Amcil Limited is a publicly owned investment manager.

Taiyo KagakuLtd

Market Cap: JP¥46.5b

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

Grade Upon Technology

Market Cap: NT$35.2b

Provides customized integrated solutions, IoT sensors, AI-powered machine vision, machine hearing, and machine olfaction to enable equipment networking, data acquisition, and AI-based anomaly detection systems.

Maharashtra Seamless

Market Cap: ₹84.3b

Engages in the manufacture and sale of seamless steel pipes and tubes in India.

Speed Tech

Market Cap: NT$6.8b

Designs, research and develops, manufactures, and sells connectors for use in communication, computers, automotive, and consumer industries in Taiwan and internationally.

Seef Properties B.S.C

Market Cap: ب.د48.4m

Engages in the real estate development business in the Kingdom of Bahrain.

Wholetech System Hitech

Market Cap: NT$9.0b

Provides system integration services in Taiwan, China, Japan, and Singapore.

Al-Deera Holding Company K.P.S.C

Market Cap: د.ك50.5m

A private equity firm specializing in direct and fund investments.

SML Mahindra

Market Cap: ₹59.6b

Manufactures and sells commercial vehicles and related parts in India and internationally.