Global Undiscovered Gems With Strong Fundamentals

Organización Terpel

Market Cap: Col$2.0t

Operates fuel service stations in Colombia, Panama, Ecuador, Peru, and the Dominican Republic.

PHX Minerals

Market Cap: US$163.0m

Operates as a natural gas and oil mineral company in the United States.

Telsys

Market Cap: ₪1.8b

Telsys Ltd. markets and distributes electronic components in Israel.

ETGA Group

Market Cap: ₪443.9m

Engages in the logistics and financing activities in Israel.

Hilan

Market Cap: ₪5.6b

A software as a service (SaaS) provider, develops solutions for management of enterprise human capital in Israel.

Enel Generacion Piura

Market Cap: S/1.5b

An energy company, engages in the production and sale of electricity in Peru.

Cementos Bio Bio

Market Cap: CL$422.8b

Engages in the production and sale of cement, lime, and concrete products in Chile and internationally.

Grupo BvlA

Market Cap: S/475.6m

Provides services, systems, and mechanisms to trade in a fair, competitive, orderly, on-going and transparent manner in Peru.

Administradora de Fondos de Pensiones Capital

Market Cap: CL$773.1b

Administradora de Fondos de Pensiones Capital S.A.

Tifico Fiber Indonesia

Market Cap: Rp2.4t

Engages in the production and sale of polyester products in Indonesia, Japan, Thailand, the United States, China, Germany, and internationally.

CartavioA

Market Cap: S/1.0b

Engages in the cultivation, processing, and industrialization of sugarcane in Peru.

Empresas Tricot

Market Cap: CL$222.9b

Operates fashion stores in Chile.

GraceKennedy

Market Cap: JA$70.4b

Engages in food trading and financial services businesses in Jamaica, the United Kingdom, the United States, Canada, rest of Caribbean countries, other European countries, Africa, and internationally.

Westag

Market Cap: €136.6m

Manufactures and sells wood-based products for interior finishing and building construction primarily in Germany and internationally.

Saga Falabella

Market Cap: S/1.1b

Operates chain of department stores in Peru.

Duncan Fox

Market Cap: CL$103.9b

Engages in the agro-industrial, hotel, and real estate businesses in Chile.

Toplofikatsia-Ruse AD

Market Cap: лв201.3m

Produces and sells electricity and thermal energy in Bulgaria.

Salamis Tours (Holdings)

Market Cap: €154.2m

Operates in the travel, tourism, cruise, shipping, and transport sectors in Cyprus and Greece.

Peña Verde

Market Cap: Mex$3.0b

Offers insurance and reinsurance services in Mexico, Latin America, the Caribbean, and internationally.

Gunung Raja Paksi

Market Cap: Rp2.3t

Produces and sells steel and steel products.

Grupo Palacio de Hierro. de

Market Cap: Mex$15.9b

Operates department stores in Mexico.

BLD Plantation Bhd

Market Cap: RM 1.0b

An investment holding company, engages in palm oil business in Bangladesh, China, India, Korea, Malaysia, and internationally.

Suresofttech

Market Cap: ₩274.5b

Operates as a mission critical software company in South Korea.

FFRI Security

Market Cap: JP¥28.1b

Engages in research and consulting related to computer security products in Japan.

Sanshin Electronics

Market Cap: JP¥24.7b

Sells and trades in electronic components and other devices in Japan and internationally.

Logory Logistics Technology

Market Cap: HK$2.0b

Provides road freight transportation services and solutions to logistics companies, cargo owners, truckers, freight brokers, and other related service providers in China.

CREAL

Market Cap: JP¥31.1b

Operates an asset management platform in Japan.

Richard Pieris

Market Cap: LK₨48.8b

Through its subsidiaries, engages in the retail, plantation, tire, furniture, plastics, rubber, automotive, and electronic businesses.

South Logistics

Market Cap: ₫3.3t

Provides international freight forwarding, import-export forwarding, and warehousing services in Vietnam and internationally.

Taiwan Speciality Chemicals

Market Cap: NT$28.1b

Manufactures and sells specialty electronic-graded gases and chemicals in Taiwan.

Maruzen CHI HoldingsLtd

Market Cap: JP¥30.1b

Engages in the sale of books and magazines in Japan.

LH Financial Group

Market Cap: ฿16.5b

An investment holding company, engages in the banking business in Thailand.

Wuxi Online Offline Communication Information Technology

Market Cap: CN¥3.2b

Wuxi Online Offline Communication Information Technology Co., Ltd.

Sunspring Metal

Market Cap: NT$5.1b

Manufactures, processes, and trades water pipe switch accessories, gate valves, corks, copper pipe fittings, and waterway sanitary equipment in Taiwan and internationally.

Taekwang Industrial

Market Cap: ₩694.3b

Taekwang Industrial Co., Ltd. petrochemicals, synthetic fibers, textiles, and advanced materials in South Korea and internationally.

Jiujiang Shanshui TechnologyLtd

Market Cap: CN¥4.3b

Engages in the research, development, production, and sale of dye intermediates, pesticides, and pharmaceutical intermediates in China.