Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Capricorn Group

Market Cap: R11.0b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

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.

Morris State Bancshares

Market Cap: US$265.7m

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

MAPFRE Middlesea

Market Cap: €110.4m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

Standard Bank

Market Cap: MK 2.8t

Provides banking and other related services in Malawi.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Develops, manufactures, and sells medicines in Bulgaria.

Wilson Bank Holding

Market Cap: US$1.8b

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to consumers, professionals, small businesses, and municipalities in Tennessee.

Practic

Market Cap: RON 736.5m

Engages in the lease and sublease of real estate properties in Romania.

ManpowerGroup Greater China

Market Cap: HK$1.1b

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

Saudi Chemical Holding

Market Cap: ر.س6.0b

Saudi Chemical Holding Company manufacture, wholesale, and retail trade of medicines, medical materials and syrups, pharmaceutical preparations, medical and surgical tools and equipment in the Kingdom of Saudi Arabia and internationally.

Surya Citra Media

Market Cap: Rp12.1t

Provides multimedia services in Indonesia.

Cita Mineral Investindo

Market Cap: Rp16.0t

Engages in bauxite mining activities in Indonesia.

National General Insurance (P.J.S.C.)

Market Cap: د.إ1.1b

Engages in underwriting various classes of life and general insurance, and reinsurance businesses in the United Arab Emirates.

SALUS Ljubljana d. d

Market Cap: €325.5m

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

AB Vilkyskiu pienine

Market Cap: €120.0m

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

Dwi Guna Laksana

Market Cap: Rp2.0t

Engages in the coal mining and trading activities in Indonesia.

Baazeem Trading

Market Cap: ر.س584.2m

Operates as a FMCG distribution company.

Ruentex Interior Design

Market Cap: NT$3.4b

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

Donpon Precision

Market Cap: NT$3.6b

Researches, develops, manufactures, and sells automotive electronic products and plastic precision components in Taiwan and Mainland China.

Etihad Atheeb Telecommunication

Market Cap: ر.س3.2b

Provides telecommunication products and services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

National Environmental Recycling

Market Cap: ر.س886.1m

National Environmental Recycling Company recycles electronic and electrical equipment in Asia, Middle East, Japan, and Europe.

Najran Cement

Market Cap: ر.س1.4b

Engages in manufacture and sale of cement products in the Kingdom of Saudi Arabia.

Jamuna Bank

Market Cap: ৳16.5b

Provides various banking products and services in Bangladesh.

Cahaya Aero Services

Market Cap: Rp4.3t

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.

Mechema Chemicals International

Market Cap: NT$5.9b

Manufactures, imports, exports, and sells of cobalt and manganese and its compounds in Taiwan, China, Korea, Thailand, Malaysia, Indonesia, and internationally.

Brillian Network & Automation Integrated System

Market Cap: NT$10.2b

Brillian Network & Automation Integrated System Co.

DINE. de

Market Cap: Mex$14.2b

Develops real estate projects in Mexico.

CTCI Advanced Systems

Market Cap: NT$3.2b

Provides system integration services to the hydrocarbon, power, industry, transportation, and high technology markets in Taiwan and internationally.

Nofoth Food Products

Market Cap: ر.س1.2b

Produces and sells bakery products in Saudi Arabia.

Bank Ganesha

Market Cap: Rp1.9t

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

Fortune Mate Indonesia

Market Cap: Rp2.2t

Provides real estate development and construction services in Indonesia.

Nestlé Pakistan

Market Cap: PK₨337.6b

Manufactures, processes, and sells dairy, nutrition, beverages, and food products in Pakistan, Afghanistan, the United States, and internationally.

Taiyo KagakuLtd

Market Cap: JP¥32.4b

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

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.