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.

Te Chang Construction

Market Cap: NT$7.0b

Engages in the construction contracting and civil engineering business in Taiwan and Thailand.

Padma Oil

Market Cap: ৳17.6b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

Surya Toto Indonesia

Market Cap: Rp2.3t

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

Cahaya Aero Services

Market Cap: Rp4.5t

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: Rp5.7t

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

Fortune Mate Indonesia

Market Cap: Rp2.4t

Provides real estate development and construction services in Indonesia.

Mark Dynamics Indonesia

Market Cap: Rp2.8t

Manufactures and sells hand former products in Indonesia and internationally.

Dwi Guna Laksana

Market Cap: Rp2.3t

Engages in the coal mining and trading activities in Indonesia.

ManpowerGroup Greater China

Market Cap: HK$900.6m

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

Sun

Market Cap: MU₨6.5b

Operates in the tourism sector.

Sinopower Semiconductor

Market Cap: NT$3.8b

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

Indofood Agri Resources

Market Cap: S$432.7m

Operates as a vertically integrated agribusiness company in Singapore, Indonesia, China, Nigeria, Timor Leste, and internationally.

Taiyo KagakuLtd

Market Cap: JP¥29.5b

Manufactures and sells ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

AB Vilkyskiu pienine

Market Cap: €132.6m

Engages in the production and sale of dairy products in Lithuania, the rest of the European Union, and internationally.

Billion Industrial Holdings

Market Cap: HK$9.5b

Engages in manufacturing and sales of polyester filament yarns, polyester, polyester industrial yarns, and ES fiber products in the People’s Republic of China and internationally.

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp19.0t

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

Jamuna Bank

Market Cap: ৳15.0b

Provides various banking products and services in Bangladesh.

Ruentex Interior Design

Market Cap: NT$3.5b

Engages in the interior design and decoration, landscape design engineering, and construction businesses in Taiwan.

Linde Bangladesh

Market Cap: ৳12.7b

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

Bank Ganesha

Market Cap: Rp1.9t

Provides various general banking products and services for individuals and businesses in Indonesia.

Bank MNC Internasional

Market Cap: Rp2.3t

Provides various banking products and services in Indonesia.

Bakrie & Brothers

Market Cap: Rp4.7t

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

Sing Investments & Finance

Market Cap: S$267.2m

Provides f financial products and services to individuals and corporations in Singapore.

Hua Na Hydropower

Market Cap: ₫5.8t

Engages in the electricity generation activities.

Cita Mineral Investindo

Market Cap: Rp16.0t

Engages in bauxite mining activities in Indonesia.

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺7.2b

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

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺4.1b

Engages in the production and sale of food products in Turkey.

Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺9.0b

Produces and trades in frozen and canned products in Turkey.

MIA Teknoloji Anonim Sirketi

Market Cap: ₺14.9b

Provides software development services to public and private organizations in Turkey.

Castellana Properties Socimi

Market Cap: €874.3m

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

Gulf Insurance Group - Jordan

Market Cap: د.أ80.6m

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

Formula Systems (1985)

Market Cap: ₪6.1b

Through its subsidiaries, provides proprietary and non-proprietary software solutions, Information Technologies (IT) professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration.

Aura Investments

Market Cap: ₪6.0b

Together with its subsidiaries engages in locating, initiating, planning, and building projects in the field of residential real estate in Israel and internationally.

Y.D. More Investments

Market Cap: ₪1.6b

A privately owned Investment Manager.

Payton Industries

Market Cap: ₪509.1m

Develops, produces, trades, markets, and sells various types of transformers for communications, electronics, automotive, and industrial equipment industries in Israel, Europe, the United States, and Asia.