Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Johnson Chemical Pharmaceutical Works

Market Cap: NT$2.9b

Johnson Chemical Pharmaceutical Works Co., Ltd.

FRMO

Market Cap: US$374.2m

Through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States.

Itafos

Market Cap: CA$595.2m

Operates as a phosphate and specialty fertilizer company.

Vantage

Market Cap: US$130.1m

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

Capricorn Group

Market Cap: R11.0b

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

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.

Citra Tubindo

Market Cap: Rp6.8t

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

Shangri-La Hotel

Market Cap: ฿5.8b

Operates hotels in Bangkok and Chiang Mai provinces.

Gulf Insurance Group - Jordan

Market Cap: د.أ82.9m

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

Bonraybio

Market Cap: NT$3.7b

A development stage company, manufactures medical instruments and solutions for the male infertility market.

va-Q-tec

Market Cap: €348.4m

Develops, produces, and markets vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

ANSA Merchant Bank

Market Cap: TT$3.3b

Provides a range of banking and financial services in Trinidad and Tobago, and Barbados.

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.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 70.8b

Processes heavy bitumen crude in Africa.

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

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.

Practic

Market Cap: RON 736.5m

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

Zona Franca de Iquique

Market Cap: CL$229.6b

Operates premises for wholesale and retail business centers in the duty-free zones of South America.

Eurofins-Cerep

Market Cap: €88.8m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Gulf Island Fabrication

Market Cap: US$110.3m

Operates as a fabricator of steel structures and modules in the United States.

Oakworth Capital

Market Cap: US$159.7m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

China SXT Pharmaceuticals

Market Cap: US$218.1m

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$528.7m

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

Sugar Terminals

Market Cap: AU$363.6m

Provides storage and handling solutions for bulk sugar and other commodities in Australia.

Standard Bank

Market Cap: MK 2.8t

Provides banking and other related services in Malawi.

Pure Cycle

Market Cap: US$267.0m

Provides wholesale water and wastewater services in the United States.

Valhi

Market Cap: US$512.1m

Engages in the chemicals, component products, and real estate management and development businesses in Europe, North America, the Asia Pacific, and internationally.

NICO Holdings

Market Cap: MK 902.2b

Engages in general insurance, life assurance, pension administration, banking, corporate finance advisory, asset management, and information technology (IT) businesses in in Malawi, Zambia, Uganda, and Mozambique.

Chilanga Cement

Market Cap: K6.1b

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

NSIA Banque Société Anonyme

Market Cap: XOF 252.3b

Provides various banking products and services.

Transcorp Power

Market Cap: ₦2.4t

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

Cannara Biotech

Market Cap: CA$141.7m

Engages in the indoor cultivation, processing, and sale of cannabis and cannabis-derivated products in Canada.

SALUS Ljubljana d. d

Market Cap: €343.6m

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

Jadranski naftovod d.d

Market Cap: €836.4m

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