Global Undiscovered Gems With Strong Fundamentals

Vantage

Market Cap: US$140.6m

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

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Bosch Fren Sistemleri Sanayi ve Ticaret

Market Cap: ₺5.1b

Bosch Fren Sistemleri Sanayi ve Ticaret A.S.

Dwi Guna Laksana

Market Cap: Rp2.4t

Engages in the coal mining and trading activities in Indonesia.

BIOBIJOULtd

Market Cap: ₩271.4b

Engages in the research, development, manufacturing, and sale of skin booster and filler products in South Korea.

MSC

Market Cap: ₩147.0b

Engages in the research and development, production, marketing, and sale of various food additives in South Korea.

Surya Toto Indonesia

Market Cap: Rp2.4t

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

Nestlé Pakistan

Market Cap: PK₨321.5b

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

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.

Citra Tubindo

Market Cap: Rp3.9t

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

VCREDIT Holdings

Market Cap: HK$2.0b

An investment holding company, provides online consumer finance services to borrowers in the People’s Republic of China and Hong Kong.

Gallantt Ispat

Market Cap: ₹106.5b

Engages in manufacture and sale of iron and steel products in India.

Timex Group India

Market Cap: ₹27.3b

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

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺6.7b

A real estate investment trust.

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺7.4b

Produces and sells various cleaning materials and painting brushes in Turkey and internationally.

Indo Amines

Market Cap: ₹11.3b

Engages in the manufacture, distribution, and sale of fine and specialty chemicals in India and internationally.

Krishana Phoschem

Market Cap: ₹27.6b

Engages in the manufacture and sale of fertilizers and chemicals in India.

Showbox

Market Cap: ₩202.9b

Engages in the investment, production, and distribution of films in South Korea, North America, Asia, Europe, and internationally.

Creative & Innovative System

Market Cap: ₩569.4b

Manufactures and sells equipment for lithium-ion batteries powering IT instruments, EV lithium-ion batteries, fuel cells, solar cells, displays, etc.

Central Finance

Market Cap: LK₨53.1b

Provides various financial solutions primarily in Sri Lanka.

Wison Engineering Services

Market Cap: HK$1.3b

An investment holding company, provides chemical engineering, procurement, and construction management services in Mainland China, the United States, the Middle East, Europe, and internationally.

Bakrie & Brothers

Market Cap: Rp5.0t

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

Vinacomin - Power Holding

Market Cap: ₫8.8t

Engages in the investment, construction, exploitation, and operation of thermal power and hydroelectric plants, and electronic factories using new energy, renewable energy, power grids, and power supply systems in Vietnam.

Standard Chartered Bank Kenya

Market Cap: KSh101.6b

Provides various banking products and services for individuals and businesses.

Time Interconnect Technology

Market Cap: HK$11.4b

An investment holding company, manufactures and sells cable assembly, digital cable, and server products in the People's Republic of China, the United States, the Netherlands, Singapore, the United Kingdom, Hong Kong, Japan, Mexico, and internationally.

Concord Enviro Systems

Market Cap: ₹12.2b

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

TSTE

Market Cap: ฿4.4b

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

Korea Ratings

Market Cap: ₩438.1b

Provides credit rating and business valuation services in South Korea.

Yibin City Commercial Bank

Market Cap: HK$11.9b

Provides banking and financial products and services to small and micro enterprises in the People’s Republic of China.

ManpowerGroup Greater China

Market Cap: HK$888.1m

An investment holding company, provides workforce solutions and services in the People’s Republic of China, Hong Kong, Macau, and Taiwan.

Network People Services Technologies

Market Cap: ₹41.7b

Develops payments infrastructure for banks, payment aggregators, and merchants in India.

Neosem

Market Cap: ₩409.3b

Manufactures and sells semiconductor inspection equipment.

Natural Food International Holding

Market Cap: HK$1.6b

An investment holding company, engages in the manufacture and sale of natural health food products in China.

COSCO SHIPPING International (Hong Kong)

Market Cap: HK$7.3b

An investment holding company, provides shipping services in the People’s Republic of China and internationally.

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.

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.