Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Fortune Mate Indonesia

Market Cap: Rp2.0t

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.

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.

Shanghai Pioneer Holding

Market Cap: HK$2.5b

An investment holding company, engages in marketing, promotion, and channel management of pharmaceutical products and medical devices primarily in the People’s Republic of China.

Sun

Market Cap: MU₨6.6b

Operates in the tourism sector.

Cita Mineral Investindo

Market Cap: Rp15.8t

Engages in bauxite mining activities in Indonesia.

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp17.2t

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

Surya Citra Media

Market Cap: Rp10.4t

Provides multimedia services in Indonesia.

Jamuna Bank

Market Cap: ৳15.5b

Provides various banking products and services in Bangladesh.

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.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Shangri-La Hotel

Market Cap: ฿5.8b

Operates hotels in Bangkok and Chiang Mai provinces.

Linc

Market Cap: SEK 4.5b

A private equity and venture capital firm, specializing in early and mature stage investments in pharmaceutical, life-science and med-tech companies.

Itafos

Market Cap: CA$570.0m

Operates as a phosphate and specialty fertilizer company.

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺10.3b

Produces and sells various cleaning materials and painting brushes in Turkey and internationally.

Acsion

Market Cap: R3.4b

Engages in property holding and development activities in South Africa and internationally.

First National Bank of Botswana

Market Cap: P13.5b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

Central Cooperative Bank AD

Market Cap: лв219.9m

A commercial bank, provides various financial products and services.

Payton Industries

Market Cap: ₪533.4m

Develops, produces, trades, markets, and sells various types of transformers for communications, electronics, automotive, and industrial equipment industries in Israel, Europe, the United States, and Asia.

Practic

Market Cap: RON 736.5m

Engages in the lease and sublease of real estate properties in Romania.

Reitar Logtech Holdings

Market Cap: US$297.9m

Through its subsidiaries, provides construction management and engineering design services.

Dogan Burda Dergi Yayincilik Ve Pazarlama

Market Cap: ₺7.2b

Dogan Burda Dergi Yayincilik Ve Pazarlama A.S.

Dekpol

Market Cap: zł610.5m

Dekpol S.A. primary engages in the general contracting and property development businesses in Poland.

Transcorp Power

Market Cap: ₦2.4t

Engages in the generation and sale of electric power in Nigeria and internationally.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 312.8b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

China SXT Pharmaceuticals

Market Cap: US$193.5m

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

FineMark Holdings

Market Cap: US$522.7m

Operates as the bank holding company for FineMark National Bank & Trust that provides various banking and financial services to individual and corporate clients.

Solesence

Market Cap: US$251.0m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

Purple Group

Market Cap: R2.3b

A financial services and technology company, engages in trading platforms, fractional property and crypto asset investing, retirement fund administration, and asset management businesses in South Africa.

Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺4.1b

Engages in the production and sale of cotton and synthetic yarn in Turkey and internationally.

Vantage

Market Cap: US$137.4m

Provides shipbroking services to the oil tanker industry in Singapore and Dubai.

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €97.7m

Designs, develops, manufactures, integrates, installs, and maintains electronic and computerized toll collection systems.

Arab Insurance Group (B.S.C.)

Market Cap: US$190.2m

Provides life and non-life reinsurance products and related services in the Afro Asia region.

Famous Brands

Market Cap: R6.1b

Through its subsidiaries, operates as a quick service and casual dining restaurant franchisor in the United Kingdom, South Africa, South African Development Community, Middle East, and Rest of Africa.