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.د61.8m

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

Seef Properties B.S.C

Market Cap: ب.د53.8m

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

Hafary Holdings

Market Cap: S$202.4m

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

Hextar Global Berhad

Market Cap: RM 3.1b

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

Cairo Amman Bank

Market Cap: د.أ276.0m

Provides various banking and financial services for corporate and institutional customers.

Nestlé Pakistan

Market Cap: PK₨357.7b

Manufactures, processes, and sells dairy, nutrition, beverages, and food products in Pakistan, Afghanistan, the United States, and internationally.

Fauji Foods

Market Cap: PK₨37.9b

Engages in processing and sale of toned milk, milk powder, fruit juices, allied dairy, and food products in Pakistan.

Lion Capital

Market Cap: RON 2.3b

SIF Banat-Crisana is a self-managed closed-end investment company and since March 2018, it is authorized by ASF as alternative investment fund manager.

Epsilon Energy

Market Cap: US$180.6m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

New Mauritius Hotels

Market Cap: MU₨7.2b

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

First National Bank of Botswana

Market Cap: P14.4b

Provides various banking and related products and services to individuals, and large and small businesses in Botswana.

Sopharma AD

Market Cap: €901.3m

Produces, distributes, and exports pharmaceutical products in Europe, Bulgaria, and internationally.

National Industries Group Holding - KPSC

Market Cap: د.ك605.1m

Through its subsidiaries, engages in the building materials, petrochemicals, oil and gas services, mechanical industries, utilities, real estate, infrastructure, and financial services in Kuwait.

MKH Berhad

Market Cap: RM 533.6m

An investment holding company, engages in the property development and construction, plantation, hotel and property investment, and other activities in Malaysia, and Indonesia.

National Investments Company K.S.C.P

Market Cap: د.ك218.2m

Provides financial and investment services in Kuwait, GCC countries, and internationally.

First Investment Company K.S.C.P

Market Cap: د.ك49.9m

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

Sokouk Holding Company K.S.C.P

Market Cap: د.ك37.7m

Engages in managing real estate projects in Kuwait.

Nigerian Aviation Handling

Market Cap: ₦340.1b

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

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

Market Cap: د.ك43.8m

A private equity firm specializing in direct and fund investments.

Kuwait Projects Company Holding K.S.C.P

Market Cap: د.ك347.8m

Through its subsidiaries, operates in the financial services, food, petrochemicals and oil services, media, real estate, and education sectors in Kuwait, rest of the GCC, rest of the Middle East, rest of Asia, rest of North Africa, Europe, and North America.

Hua Na Hydropower

Market Cap: ₫5.5t

Engages in the investment, production, and trading of electricity in Vietnam.

Al-Ahleia Insurance CompanyK.P

Market Cap: د.ك181.4m

Engages in insurance and reinsurance operations in Kuwait.

TSTE

Market Cap: ฿4.0b

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

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.

Freetrailer Group

Market Cap: €529.9m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

Oxford Bank

Market Cap: US$103.7m

Operates as the holding company for Oxford Bank that provides various banking products and services to various customers in Michigan.

Telekom Networks Malawi

Market Cap: MK 357.3b

Provides telecommunication services to enterprises and individual customers in Malawi.

Surya Toto Indonesia

Market Cap: Rp2.8t

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

Cisadane Sawit Raya

Market Cap: Rp1.9t

Engages in the oil palm plantation business in Indonesia and internationally.

Dwi Guna Laksana

Market Cap: Rp2.9t

Engages in the coal mining and trading business in Indonesia.

Nusantara Pelabuhan Handal

Market Cap: Rp2.4t

Manages and operates container terminals in Indonesia and internationally.

GTS Internasional

Market Cap: Rp2.9t

PT GTS Internasional Tbk, together with its subsidiaries, transports liquefied natural gas worldwide.

Yulie Sekuritas Indonesia

Market Cap: Rp5.3t

Operates as a securities company in Indonesia.

Cahaya Aero Services

Market Cap: Rp4.0t

Provides cargo and ground handling services in Indonesia.