Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Top Union Electronics

Market Cap: NT$4.7b

Engages in design, manufacture, and technical support of electronic products and communication equipment in Taiwan, the United States, and China.

Gulf Insurance Group - Jordan

Market Cap: د.أ91.0m

Engages in the insurance business in Jordan, Middle East, and North Africa region.

Ruentex Interior Design

Market Cap: NT$3.4b

Engages in the interior design and decoration, landscape design engineering, and construction businesses in Taiwan.

Cita Mineral Investindo

Market Cap: Rp16.0t

Engages in bauxite mining activities in Indonesia.

Voltamp Energy SAOG

Market Cap: ر.ع77.2m

Manufactures, distributes, and sells transformers, medium and low voltage switchgears, and panels in the Sultanate of Oman.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Sun

Market Cap: MU₨6.6b

Operates in the tourism sector.

Padma Oil

Market Cap: ৳18.6b

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

Linde Bangladesh

Market Cap: ৳14.1b

Manufactures and supplies industrial and medical gases, anesthesia, and ancillary equipment in Bangladesh.

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp17.4t

Manufactures and sells writing and printing paper products in Asia, Africa, Europe, the United States, the Middle East, and internationally.

Jamuna Bank

Market Cap: ৳16.5b

Provides various banking products and services in Bangladesh.

Cahaya Aero Services

Market Cap: Rp4.3t

PT Cardig Aero Services Tbk, together with its subsidiaries, provides ground and cargo handling, aircraft release and maintenance, catering, facility management, and aviation training services in Indonesia.

Bakrie & Brothers

Market Cap: Rp4.7t

Through its subsidiaries, engages in the trading, construction, agriculture, coal mining, oil and gas, and telecommunication businesses in Indonesia and internationally.

Surya Citra Media

Market Cap: Rp12.1t

Provides multimedia services in Indonesia.

Citra Tubindo

Market Cap: Rp6.5t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Monolithisch India

Market Cap: ₹9.2b

Manufactures, trades in, and supplies ramming mass in India and Nepal.

Soft-World International

Market Cap: NT$15.2b

Develops, operates, and distributes games in Taiwan and China.

Fortune Mate Indonesia

Market Cap: Rp2.2t

Provides real estate development and construction services in Indonesia.

Bank Ganesha

Market Cap: Rp1.9t

Provides various general banking products and services for individuals and businesses in Indonesia.

Dwi Guna Laksana

Market Cap: Rp2.0t

Engages in the coal mining and trading activities in Indonesia.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Billion Industrial Holdings

Market Cap: HK$9.5b

Engages in manufacturing and sales of polyester filament yarns, polyester, polyester industrial yarns, and ES fiber products in the People’s Republic of China and internationally.

Bank MNC Internasional

Market Cap: Rp2.2t

Provides various banking products and services in Indonesia.

Surya Toto Indonesia

Market Cap: Rp2.4t

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

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺9.2b

A real estate investment trust.

Rimoni Industries

Market Cap: ₪471.1m

Engages in the design, engineering, and manufacture of molds, and precise injection molding and assemblies for the medical, automotive, agricultural, high-tech, and consumer industries in Israel.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €425.6m

Operates as a cooperative bank in France.

ABG Sundal Collier Holding

Market Cap: NOK 3.6b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

Itafos

Market Cap: CA$573.9m

Operates as a phosphate and specialty fertilizer company.

Metalpha Technology Holding

Market Cap: US$126.0m

Provides wealth management services in Hong Kong.

Viohalco

Market Cap: €1.7b

Through its subsidiaries, manufactures, and sells aluminium, copper, cables, and steel and steel pipe products.

Cyprus Cement

Market Cap: €149.5m

Engages in the manufacturing and sale of cement and related business in Cyprus.

FRMO

Market Cap: US$400.6m

Through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States.

China SXT Pharmaceuticals

Market Cap: US$191.0m

A pharmaceutical company, engages in the research, development, manufacture, marketing, and sale of traditional Chinese medicine pieces (TCMP) in China.

NICO Holdings

Market Cap: MK 1.0t

Engages in general insurance, life assurance, pension administration, banking, corporate finance advisory, asset management, information technology (IT) businesses in in Malawi, Zambia, Uganda, and Mozambique.