Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Surya Toto Indonesia

Market Cap: Rp2.7t

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

Cisadane Sawit Raya

Market Cap: Rp1.8t

Engages in the oil palm plantation business in Indonesia and internationally.

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

DINE. de

Market Cap: Mex$13.8b

Develops real estate projects in Mexico.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Sava druzba za upravljanje in financiranje d.d

Market Cap: €111.5m

Engages in tourism business.

Jordanian Duty Free Shops

Market Cap: د.أ148.1m

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

Digital Mediatama Maxima

Market Cap: Rp2.9t

Operates an integrated marketing platform.

Monolithisch India

Market Cap: ₹10.5b

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

TSTE

Market Cap: ฿4.2b

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

Mulpha International Bhd

Market Cap: RM 924.7m

An investment holding company, invests in the real estate and hospitality sectors in Malaysia, Australia, and New Zealand.

Citra Tubindo

Market Cap: Rp4.1t

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

Gulf Insurance Group - Jordan

Market Cap: د.أ85.8m

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

Hospital Corporation of China

Market Cap: HK$937.7m

An investment holding company, owns, operates, and manages hospitals in the People’s Republic of China.

Palasino Holdings

Market Cap: HK$2.0b

Through its subsidiaries, engages in the gaming and hotel businesses in the Czech Republic, Germany, and Austria.

First National Bank of Botswana

Market Cap: P13.6b

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

Marmaris Altinyunus Turistik Tesisler

Market Cap: ₺9.1b

Marmaris Altinyunus Turistik Tesisler A.S.

Zona Franca de Iquique

Market Cap: CL$229.5b

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

SBS Philippines

Market Cap: ₱6.0b

Engages in chemical trading and distribution in the Philippines.

Soma Gold

Market Cap: CA$163.0m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.

Deutsche Balaton

Market Cap: €221.4m

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

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł846.3m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

Eurofins-Cerep

Market Cap: €91.8m

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

Dekpol

Market Cap: zł593.7m

Dekpol S.A. primary engages in the general contracting and property development businesses in Poland.

Solesence

Market Cap: US$229.8m

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

GlaxoSmithKlineE

Market Cap: ج.م5.7b

Engages in production of pharmaceutical chemicals.

FRMO

Market Cap: US$400.6m

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

Rich Sparkle Holdings

Market Cap: US$507.8m

Provides financial printing and corporate services in Hong Kong.

Sociedad de Inversiones Oro Blanco

Market Cap: CL$1.3t

Through its subsidiaries, invests in various types of goods and securities in Chile.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €508.1m

Operates as a cooperative bank in France.

Southern Michigan Bancorp

Market Cap: US$115.6m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

va-Q-tec

Market Cap: €386.3m

Develops, produces, and markets vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

Sound Financial Bancorp

Market Cap: US$120.6m

Operates as the bank holding company for Sound Community Bank that provides banking and other financial services for consumers and businesses.

ANSA Merchant Bank

Market Cap: TT$3.2b

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