Global Undiscovered Gems With Strong Fundamentals

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

Engages in the development and manufacture of generic and in-licensed medicines in Bulgaria.

Zambia Sugar

Market Cap: K13.2b

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

Central Cooperative Bank AD

Market Cap: лв213.6m

A commercial bank, provides various financial products and services.

Practic

Market Cap: RON 570.2m

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

Capricorn Group

Market Cap: R10.9b

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

Darwin

Market Cap: €96.6m

Operates as a biotechnology company.

Jadranski naftovod d.d

Market Cap: €826.3m

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

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Bajel Projects

Market Cap: ₹25.3b

Engages in the engineering, procurement, and construction business in the power transmission and distribution sectors in India and internationally.

Alf Meem Yaa for Medical Supplies and Equipment

Market Cap: ر.س809.2m

Engages in the wholesale and retail trade of medical supplies for the aesthetic market in the Kingdom of Saudi Arabia.

PBA Holdings Bhd

Market Cap: RM 622.3m

An investment holding company, operates as a water supplier in Malaysia.

A'ayan Real Estate Company K.S.C.P

Market Cap: د.ك42.4m

Engages in the real estate development and investment activities in Kuwait and rest of GCC countries.

Nofoth Food Products

Market Cap: ر.س1.2b

Produces and sells bakery products in Saudi Arabia.

AGI Infra

Market Cap: ₹20.9b

Agi Infra Limited, together with its subsidiary, engages in the real estate and construction businesses in India.

Lotus Chocolate

Market Cap: ₹18.1b

Manufactures and sells chocolates, cocoa products, and cocoa derivatives to chocolate makers and users in India.

Advanced International Multitech

Market Cap: NT$9.7b

Advanced International Multitech Co., Ltd.

Om Infra

Market Cap: ₹12.0b

Engages in the design, engineering, manufacture, supply, installation, testing, and commissioning of hydro mechanical equipment for hydroelectric power and irrigation projects in India and internationally.

Macpower CNC Machines

Market Cap: ₹9.3b

Manufactures and sells computer numerical control (CNC) metal cutting machines in India.

Concord Enviro Systems

Market Cap: ₹11.8b

Engages in the design, manufacture, installation, operation, and maintenance of industrial water and wastewater treatment, and reuse and zero liquid discharge systems and plants.

Standard Chartered Bank Kenya

Market Cap: KSh106.6b

Provides various banking products and services for individuals and businesses.

National Corporation for Tourism and Hotels

Market Cap: د.إ4.5b

Invests in, owns, and manages hotels and leisure complexes in the United Arab Emirates.

Al-Ahleia Insurance CompanyK.P

Market Cap: د.ك174.0m

Engages in insurance and reinsurance operations in Kuwait.

Sinopower Semiconductor

Market Cap: NT$3.7b

Engages in the research, design, manufacture, and sale of power semiconductor components and related modules in Taiwan and internationally.

Central Finance

Market Cap: LK₨54.4b

Provides various financial solutions primarily in Sri Lanka.

Bakrie & Brothers

Market Cap: Rp4.9t

Through its subsidiaries, engages in the trading, construction, agriculture, coal mining, oil and gas, and telecommunication businesses in Indonesia and internationally.

PC Jeweller

Market Cap: ₹80.5b

Manufactures, sells, and trades in gold, diamond, silver, precious stone, and gold and diamond studded jewelry in India.

Linde Bangladesh

Market Cap: ৳12.8b

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

Sky Gold and Diamonds

Market Cap: ₹58.1b

Designs, manufactures, assembles, cuts, polishes, markets, and sells gold and silver jewelry in India.

Brillian Network & Automation Integrated System

Market Cap: NT$8.0b

Brillian Network & Automation Integrated System Co.

Citra Tubindo

Market Cap: Rp5.2t

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

Cahaya Aero Services

Market Cap: Rp4.4t

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.

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp18.8t

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

Pakistan National Shipping

Market Cap: PK₨66.4b

Engages in the shipping business worldwide.

Mamata Machinery

Market Cap: ₹10.5b

Mamata Machinery Limited manufacture and sells plastic bag and pouch making systems in India and internationally.

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

Market Cap: د.ك37.9m

A private equity firm specializing in direct and fund investments.