Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Top Union Electronics

Market Cap: NT$4.5b

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

National General Insurance (P.J.S.C.)

Market Cap: د.إ976.5m

Engages in underwriting various classes of life and general insurance, and reinsurance businesses in the United Arab Emirates.

Taiyo KagakuLtd

Market Cap: JP¥37.5b

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

PINAGO UTAMA

Market Cap: Rp2.4t

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

Gulf Insurance Group - Jordan

Market Cap: د.أ85.0m

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

Li Ming Development Construction

Market Cap: NT$4.1b

Li Ming Development Construction Co., Ltd.

Citra Tubindo

Market Cap: Rp4.2t

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

Jamuna Bank

Market Cap: ৳19.6b

Provides various banking products and services in Bangladesh.

Palasino Holdings

Market Cap: HK$2.2b

Through its subsidiaries, engages in the gaming and hotel businesses in the Czech Republic, Germany, and Austria.

Hospital Corporation of China

Market Cap: HK$817.6m

An investment holding company, owns, operates, and manages hospitals in the People’s Republic of China.

TSTE

Market Cap: ฿4.0b

Primarily engages in the production and distribution of wheat flour in Thailand.

Al Wathba National Insurance Company PJSC

Market Cap: د.إ703.8m

Engages in general insurance and reinsurance business in the United Arab Emirates and internationally.

Kuwait Insurance CompanyK.P

Market Cap: د.ك105.9m

Provides various insurance products and services in Kuwait.

Practic

Market Cap: RON 712.8m

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

Morris State Bancshares

Market Cap: US$250.3m

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

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.7b

Develops, manufactures, and sells medicines in Bulgaria.

Grupo Gigante S. A. B. de C. V

Market Cap: Mex$30.3b

Operates convenience stores and restaurants in Mexico, Central America, and Chile.

Cairo Amman Bank

Market Cap: د.أ288.0m

Provides various banking and financial services for corporate and institutional customers in Jordan and internationally.

Padma Oil

Market Cap: ৳19.2b

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

Jordanian Duty Free Shops

Market Cap: د.أ148.5m

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

Ruentex Interior Design

Market Cap: NT$3.4b

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

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Dekpol

Market Cap: zł764.3m

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

Analyst I.M.S. Investment Management Services

Market Cap: ₪1.6b

A publicly owned investment manager.

Chilanga Cement

Market Cap: K8.0b

Engages in the manufacture and sale of cement products in Zambia.

Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative

Market Cap: €1.6b

Provides a range of banking and financial products and services to individuals, farmers, professionals, businesses, and public authorities in France.

Marmaris Altinyunus Turistik Tesisler

Market Cap: ₺7.8b

Marmaris Altinyunus Turistik Tesisler A.S.

Zambia Sugar

Market Cap: K20.7b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

Telekom Networks Malawi

Market Cap: MK 366.0b

Provides telecommunication services to enterprises and individual customers in Malawi.

Acsion

Market Cap: R3.1b

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

Capricorn Group

Market Cap: R11.7b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

Lampsa Hellenic Hotels

Market Cap: €982.7m

Operates and manages hotels in Greece, Cyprus, and Serbia.

Colorado

Market Cap: د.م1.4b

Manufactures and distributes various paints in Morocco and internationally.

Bank of Africa Mali

Market Cap: XOF 98.8b

Provides various banking products and services to individuals, business customers, and SMEs in Mali.

Sopharma AD

Market Cap: лв1.4b

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