Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Wilson Bank Holding

Market Cap: US$1.8b

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to consumers, professionals, small businesses, and municipalities in Tennessee.

Standard Bank

Market Cap: MK 2.8t

Provides banking and other related services in Malawi.

Capricorn Group

Market Cap: R11.0b

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

Surya Toto Indonesia

Market Cap: Rp2.4t

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

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.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Saudi Chemical Holding

Market Cap: ر.س6.2b

Saudi Chemical Holding Company manufacture, wholesale, and retail trade of medicines, medical materials and syrups, pharmaceutical preparations, medical and surgical tools and equipment in the Kingdom of Saudi Arabia and internationally.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Pakistan National Shipping

Market Cap: PK₨78.1b

Engages in the shipping business worldwide.

Surya Citra Media

Market Cap: Rp11.6t

Provides multimedia services in Indonesia.

Najran Cement

Market Cap: ر.س1.4b

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

SALUS Ljubljana d. d

Market Cap: €327.1m

Engages in the provision of distribution, promotion, active sales, and value-added services for the medicinal products in Slovenia and internationally.

Nestlé Pakistan

Market Cap: PK₨339.9b

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

National Credit and Commerce Bank

Market Cap: ৳12.7b

Provides various commercial banking products and services in Bangladesh.

Cherat Cement

Market Cap: PK₨56.4b

Manufactures, markets, and sells ordinary Portland cement in Pakistan and Afghanistan.

Linde Bangladesh

Market Cap: ৳15.4b

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

Cita Mineral Investindo

Market Cap: Rp15.7t

Engages in bauxite mining activities in Indonesia.

DINE. de

Market Cap: Mex$14.2b

Develops real estate projects in Mexico.

Palasino Holdings

Market Cap: HK$2.1b

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

Baazeem Trading

Market Cap: ر.س587.3m

Operates as a FMCG distribution company.

AB Vilkyskiu pienine

Market Cap: €122.4m

Engages in the production and sale of dairy products in Lithuania, the rest of the European Union, and internationally.

Padma Oil

Market Cap: ৳19.6b

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

Etihad Atheeb Telecommunication

Market Cap: ر.س3.3b

Provides telecommunication products and services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

National Environmental Recycling

Market Cap: ر.س879.3m

National Environmental Recycling Company recycles electronic and electrical equipment in Asia, Middle East, Japan, and Europe.

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Morris State Bancshares

Market Cap: US$265.7m

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

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.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Develops, manufactures, and sells medicines in Bulgaria.

Practic

Market Cap: RON 736.5m

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

MAPFRE Middlesea

Market Cap: €110.4m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

Jordanian Duty Free Shops

Market Cap: د.أ155.3m

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

Bank MNC Internasional

Market Cap: Rp2.2t

Provides various banking products and services in Indonesia.

Dwi Guna Laksana

Market Cap: Rp2.1t

Engages in the coal mining and trading activities in Indonesia.

TSTE

Market Cap: ฿5.5b

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

Bank Ganesha

Market Cap: Rp1.9t

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