Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Cahaya Aero Services

Market Cap: Rp4.4t

Provides ground and cargo handling, aircraft release and maintenance, catering, facility management, and aviation training services in Indonesia.

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.

Li Ming Development Construction

Market Cap: NT$4.1b

Li Ming Development Construction Co., Ltd.

ShareHope Medicine

Market Cap: NT$3.6b

Provides integrated medical services in Taiwan.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Fortune Mate Indonesia

Market Cap: Rp2.9t

Provides real estate development and construction services in Indonesia.

TSTE

Market Cap: ฿4.4b

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

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp19.8t

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

Bakrie & Brothers

Market Cap: Rp4.5t

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

Monolithisch India

Market Cap: ₹9.1b

Manufactures, trades in, and supplies ramming mass in India and Nepal.

Cita Mineral Investindo

Market Cap: Rp15.4t

Engages in bauxite mining activities in Indonesia.

Eclatorq Technology

Market Cap: NT$3.3b

Manufactures and sells hand tools in Taiwan.

Bank Ganesha

Market Cap: Rp1.9t

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

Jiin Ming Industry

Market Cap: NT$4.4b

Provides design manufacturing services in Taiwan.

Citra Tubindo

Market Cap: Rp6.0t

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

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.

Billion Industrial Holdings

Market Cap: HK$9.3b

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.

Voltamp Energy SAOG

Market Cap: ر.ع76.3m

Manufactures, distributes, and sells transformers, medium and low voltage switchgears, and panels in the Sultanate of Oman.

Dwi Guna Laksana

Market Cap: Rp2.1t

Engages in the coal mining and trading activities in Indonesia.

Sinopower Semiconductor

Market Cap: NT$3.7b

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

Taiyo KagakuLtd

Market Cap: JP¥33.7b

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

Bank MNC Internasional

Market Cap: Rp2.5t

Provides various banking products and services in Indonesia.

Surya Toto Indonesia

Market Cap: Rp2.6t

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

Padma Oil

Market Cap: ৳20.1b

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

Linde Bangladesh

Market Cap: ৳14.6b

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

National Credit and Commerce Bank

Market Cap: ৳14.3b

Provides various commercial banking products and services in Bangladesh.

Performance Technologies

Market Cap: €87.9m

Provides IT solutions in Greece.

Rich Sparkle Holdings

Market Cap: US$387.5m

Provides financial printing and corporate services in Hong Kong.

Zona Franca de Iquique

Market Cap: CL$204.5b

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

Chilanga Cement

Market Cap: K6.1b

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

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.

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł907.4m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

Valhi

Market Cap: US$442.5m

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

First Investment Bank AD

Market Cap: лв775.2m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Deutsche Balaton

Market Cap: €217.2m

A private equity focusing on private equity investments in listed and unlisted companies, real estate investments and investments in other assets.