Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

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.

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.

Standard Bank

Market Cap: MK 2.8t

Provides banking and other related services in Malawi.

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.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Develops, manufactures, and sells medicines in Bulgaria.

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.

Cita Mineral Investindo

Market Cap: Rp15.7t

Engages in bauxite mining activities in Indonesia.

National Credit and Commerce Bank

Market Cap: ৳12.7b

Provides various commercial banking products and services in Bangladesh.

AB Vilkyskiu pienine

Market Cap: €122.4m

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

Linde Bangladesh

Market Cap: ৳15.4b

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

Palasino Holdings

Market Cap: HK$2.1b

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

Padma Oil

Market Cap: ৳19.6b

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

Practic

Market Cap: RON 736.5m

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

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.

DINE. de

Market Cap: Mex$14.2b

Develops real estate projects in Mexico.

SALUS Ljubljana d. d

Market Cap: €327.1m

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

Bank MNC Internasional

Market Cap: Rp2.2t

Provides various banking products and services in Indonesia.

Surya Toto Indonesia

Market Cap: Rp2.4t

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

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Surya Citra Media

Market Cap: Rp11.6t

Provides multimedia services in Indonesia.

Jordanian Duty Free Shops

Market Cap: د.أ155.3m

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Bank Ganesha

Market Cap: Rp1.9t

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

Tait Marketing & Distribution

Market Cap: NT$4.3b

Tait Marketing & Distribution Co., Ltd., together with its subsidiaries, import and trades in consumer goods in Taiwan.

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.

TSTE

Market Cap: ฿5.5b

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

Dwi Guna Laksana

Market Cap: Rp2.1t

Engages in the coal mining and trading activities in Indonesia.

Fortune Mate Indonesia

Market Cap: Rp2.0t

Provides real estate development and construction services in Indonesia.

Voltamp Energy SAOG

Market Cap: ر.ع77.7m

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

Sun

Market Cap: MU₨6.6b

Operates in the tourism sector.

Jamuna Bank

Market Cap: ৳17.6b

Provides various banking products and services in Bangladesh.

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.

Taiyo KagakuLtd

Market Cap: JP¥32.9b

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