Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Jadranski naftovod d.d

Market Cap: €866.6m

Engages in the transport and storage of oil and oil products in the Republic of Croatia and internationally.

Southern Michigan Bancorp

Market Cap: US$115.3m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Te Chang Construction

Market Cap: NT$6.9b

Engages in the construction contracting and civil engineering business in Taiwan and Thailand.

Morris State Bancshares

Market Cap: US$236.6m

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

Tri-County Financial Group

Market Cap: US$112.9m

Operates as a bank holding company for First State Bank, providing various banking and mortgage banking services and insurance services to individuals and businesses in the United States.

Central Cooperative Bank AD

Market Cap: лв214.8m

A commercial bank, provides various financial products and services.

TPP-Bobov Dol AD

Market Cap: лв240.3m

Engages in the generation and sale of electricity in Bulgaria.

Hospital Corporation of China

Market Cap: HK$937.7m

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

Digital Mediatama Maxima

Market Cap: Rp2.8t

Operates an integrated marketing platform.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.5b

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

Al-Ahleia Insurance CompanyK.P

Market Cap: د.ك186.7m

Engages in insurance and reinsurance operations in Kuwait.

Billion Industrial Holdings

Market Cap: HK$9.4b

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.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Al-Enma'a Real Estate Company K.S.C.P

Market Cap: د.ك33.0m

Engages in the contracting, management, and maintenance of real estate in Kuwait and the Gulf Countries.

YuanShengTai Dairy Farm

Market Cap: HK$1.2b

A dairy farming company, engages in the production and sale of raw cow milk in the People’s Republic of China.

Ramco Industries

Market Cap: ₹30.7b

Engages in the building products, textiles, and power generation businesses in India.

Fengyinhe Holdings

Market Cap: HK$4.2b

An investment holding company, provides various financial services to real estate market in the People’s Republic of China.

Natural Food International Holding

Market Cap: HK$2.6b

An investment holding company, manufactures and sells natural health food products in China.

Vidhi Specialty Food Ingredients

Market Cap: ₹16.5b

Engages in manufacture and trading of synthetic food colors.

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 Company for Process Plant Construction and Contracting K.S.C.P

Market Cap: د.ك46.4m

The Kuwait Company for Process Plant Construction and Contracting K.S.C.P.

Najran Cement

Market Cap: ر.س1.3b

Engages in manufacture and sale of cement products in the Kingdom of Saudi Arabia.

Standard Chartered Bank Kenya

Market Cap: KSh114.1b

Provides various banking products and services for individuals and businesses.

Lee's Pharmaceutical Holdings

Market Cap: HK$1.1b

An investment holding company, develops, manufactures, markets, and sells pharmaceutical products in the People's Republic of China, Hong Kong, and internationally.

Marmaris Altinyunus Turistik Tesisler

Market Cap: ₺7.2b

Marmaris Altinyunus Turistik Tesisler A.S.

Timex Group India

Market Cap: ₹38.9b

Engages in designing, manufacturing, and trading of watches in India and internationally.

Pizu Group Holdings

Market Cap: HK$3.4b

An investment holding company, manufactures, trades, and sales of civil explosives in the People's Republic of China and Tajikistan.

Taiyo KagakuLtd

Market Cap: JP¥36.5b

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

Q P Group Holdings

Market Cap: HK$909.7m

An investment holding company, manufactures and trades in paper products in the People’s Republic of China, the United States, Europe, and internationally.

Mackolik Internet Hizmetleri Ticaret

Market Cap: ₺4.4b

Mackolik Internet Hizmetleri Ticaret A.S.

Nofoth Food Products

Market Cap: ر.س1.1b

Produces and sells bakery products in Saudi Arabia.

Padma Oil

Market Cap: ৳19.1b

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

Fortune Mate Indonesia

Market Cap: Rp2.3t

Provides real estate development and construction services in Indonesia.

Viviana Power Tech

Market Cap: ₹10.5b

Engages in power transmission, distribution, and industrial engineering, procurement, and construction (EPC) space project businesses in India.