Global Undiscovered Gems With Strong Fundamentals

Sun

Market Cap: MU₨7.5b

Operates in the tourism sector.

Jordanian Duty Free Shops

Market Cap: د.أ150.8m

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

Luxchem Corporation Berhad

Market Cap: RM 470.3m

An investment holding company, imports, exports, and distributes petrochemical and other related products in Malaysia and internationally.

Pizu Group Holdings

Market Cap: HK$1.6b

An investment holding company, engages in the manufactures, trades, and sales of civil explosives in the People's Republic of China and Tajikistan.

Eclatorq Technology

Market Cap: NT$3.4b

Manufactures and sells hand tools in Taiwan.

Gallant Precision Machining

Market Cap: NT$13.8b

Engages in the research and development, production, manufacture, and sale of flat panel display testing, semiconductor assembly, and intelligent automation equipment in Taiwan, China, and internationally.

Philippine Savings Bank

Market Cap: ₱24.8b

Primarily engages in savings and mortgage banking activities in the Philippines.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Shangri-La Hotel

Market Cap: ฿6.3b

Operates hotels in Bangkok and Chiang Mai provinces.

Asian Terminals

Market Cap: ₱46.8b

Operates and manages the South Harbor Port of Manila and the Port of Batangas in Batangas City in the Philippines.

SALUS Ljubljana d. d

Market Cap: €374.8m

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

First National Bank of Botswana

Market Cap: P13.3b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

Alantra Partners

Market Cap: €306.6m

Engages in the investment banking and asset management services in Spain and internationally.

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.

Transnational Corporation of Nigeria

Market Cap: ₦462.4b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

FineMark Holdings

Market Cap: US$334.1m

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

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

NSIA Banque Société Anonyme

Market Cap: XOF 215.2b

Provides various banking products and services.

Eurofins-Cerep

Market Cap: €103.9m

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

Reitar Logtech Holdings

Market Cap: US$287.2m

Through its subsidiaries, provides construction management and engineering design services.

AB Traction

Market Cap: SEK 4.0b

A private equity firm specializing in distressed, middle market, later stage, mature, bridge, recapitalization, buyouts and PIPES investments.

Bank of Africa Mali

Market Cap: XOF 86.5b

Provides various banking products and services to individuals, business customers, and SMEs in Mali.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 66.3b

Processes heavy bitumen crude in Africa.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 259.5b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative

Market Cap: €1.2b

Provides a range of banking and financial products and services to individuals, farmers, professionals, businesses, and public authorities in France.

Pure Cycle

Market Cap: US$258.3m

Provides wholesale water and wastewater services in the United States.

FRMO

Market Cap: US$369.4m

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

Empresas Lipigas

Market Cap: CL$537.5b

Engages in the distribution and sale of liquefied petroleum gas (LPG) and natural gas (NG) in Chile, Peru, and Colombia.

Wema Bank

Market Cap: ₦299.0b

Provides banking and other financial services to corporate and individual customers in Nigeria.

Potasios de Chile

Market Cap: CL$536.2b

Engages in investment in shares and other financial instruments in Chile.

Zambia Sugar

Market Cap: K13.1b

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

Solesence

Market Cap: US$283.9m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Castellana Properties Socimi

Market Cap: €912.6m

As of December 20, 2016, Castellana Properties Socimi, S.A.

ANSA Merchant Bank

Market Cap: TT$3.4b

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

Morris State Bancshares

Market Cap: US$212.6m

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