Global Undiscovered Gems With Strong Fundamentals

Shangri-La Hotel

Market Cap: ฿6.3b

Operates hotels in Bangkok and Chiang Mai provinces.

Hua Na Hydropower

Market Cap: ₫5.9t

Engages in the electricity generation activities.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

Operates as producers and vendors of integrated solutions for the mining market in Chile and internationally.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Industrias del Cobre Sociedad Anónima

Market Cap: S/762.2m

Engages in the manufacture and sale of cables and electrical and telecommunication conductors in Peru and internationally.

Quemchi

Market Cap: CL$95.2b

Quemchi, S.A. engages in maritime transport, cargo and shipping services, and investments businesses.

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

SALUS Ljubljana d. d

Market Cap: €252.9m

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

Practic

Market Cap: RON 567.2m

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

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

MAPFRE Middlesea

Market Cap: €133.4m

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

First IC

Market Cap: US$172.7m

Operates as the bank holding company for First IC Bank that provides retail and commercial banking products and services in the United States.

Wooyang HC

Market Cap: ₩387.1b

Engages in the production and sale of equipment for use in petrochemical, power, and fine chemical plants.

TOMONY Holdings

Market Cap: JP¥102.4b

Through its subsidiaries, provides various banking and financial products and services.

Pan Asian Microvent Tech (Jiangsu)

Market Cap: CN¥3.7b

Provides micro permeable polymer and other membrane components for the automotive, packing, and protective air ventilation fields in China and internationally.

AJIS

Market Cap: JP¥22.0b

Provides inventory and other retail support services in Asia.

Zhubo Design

Market Cap: CN¥2.2b

Provides integrated design services in China.

Vidhi Specialty Food Ingredients

Market Cap: ₹22.2b

Engages in manufacture and trading of synthetic food colors.

Nippon Sharyo

Market Cap: JP¥29.3b

Engages in the manufactures and sale of railway rolling stock, transportation equipment, steel structures, and construction equipment; and engineering and other activities in Japan, the United States, Asia, and internationally.

Imuraya Group

Market Cap: JP¥31.1b

Manufactures and sells various food products in Japan and internationally.

Amanat Holdings PJSC

Market Cap: د.إ2.6b

Engages in the investment in companies and enterprises in the fields of education and healthcare in the United Arab Emirates and internationally.

Jiangsu Lianfa TextileLtd

Market Cap: CN¥2.7b

Engages in the manufacture and sale of textile products in China.

Brillian Network & Automation Integrated System

Market Cap: NT$8.5b

Brillian Network & Automation Integrated System Co.

CMC

Market Cap: JP¥17.6b

Provides manual creation, business process management, training, translation, and interpretation services in Japan.

Bakrie & Brothers

Market Cap: Rp5.4t

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

Dura Tek

Market Cap: NT$3.8b

Designs and develops simulation testing machines for various components.

BBK Test Systems

Market Cap: CN¥3.7b

Manufactures and sells automotive and structural testing equipment in China and internationally.

Miwon Chemicals

Market Cap: ₩156.5b

Develops, manufactures, and sells performance chemicals for use in the rubber, detergent, and personal care industries worldwide.

Iljin DiamondLtd

Market Cap: ₩173.8b

Iljin Diamond Co., Ltd. manufactures and sells tool materials in South Korea, the United States, Europe, Japan, China, and internationally.

Wholetech System Hitech

Market Cap: NT$6.7b

Provides system integration services in Taiwan, China, and Singapore.

Praise Victor Industrial

Market Cap: NT$8.9b

Designs, produces, and trades in polyurethanes (PU) materials.

Wuxi Double Elephant Micro Fibre MaterialLtd

Market Cap: CN¥4.6b

Manufactures and sells artificial and synthetic leather products in the People’s Republic of China and internationally.

Hangzhou Fortune Gas Cryogenic Group

Market Cap: CN¥5.2b

Hangzhou Fortune Gas Cryogenic Group Co., Ltd.

Red phase

Market Cap: CN¥3.0b

Provides solutions for power grid condition maintenance and intelligent operation in China.

Nippon Care Supply

Market Cap: JP¥31.1b

Engages in the rental and wholesale of welfare equipment in Japan.