Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Southern Michigan Bancorp

Market Cap: US$110.5m

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.

Jordanian Duty Free Shops

Market Cap: د.أ144.0m

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

Namibia Breweries

Market Cap: R6.2b

Engages in brewing and distribution of alcoholic beverages, and manufacture of soft drinks in Namibia and South Africa.

Liburnia Riviera Hoteli d.d

Market Cap: €154.3m

Provides accommodation and hospitality services in Croatia, Germany, Austria, Italy, Hungary, Slovenia, Ukraine, Czech, other European countries, and internationally.

Oakworth Capital

Market Cap: US$180.2m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

Productive Business Solutions

Market Cap: US$150.6m

Engages in the distribution of printing equipment, business machines, handsets, and related accessories.

Thai Steel Cable

Market Cap: ฿3.9b

Manufactures and distributes automobile and motorcycle control cables, and automobile window regulators in Thailand.

Nextronics Engineering

Market Cap: NT$4.3b

Provides connectors, thermal, backplane, and subracks for medical, aerospace, transportation, industry, and communication applications in Taiwan.

Li Ming Development Construction

Market Cap: NT$4.2b

Li Ming Development Construction Co., Ltd.

Baazeem Trading

Market Cap: ر.س613.6m

Operates as a FMCG distribution company.

Buana Artha Anugerah

Market Cap: Rp2.2t

Provides asset management services in Indonesia.

Goldiam International

Market Cap: ₹41.5b

Manufactures and sells gold/silver/platinum and diamond studded jewelry products in India.

MOBI Industry

Market Cap: ر.س560.0m

Manufactures and sells fertilizers and nitrogen compounds in the Kingdom of Saudi Arabia.

Park Medi World

Market Cap: ₹63.9b

Operates a network of hospitals.

AGI Infra

Market Cap: ₹32.5b

Agi Infra Limited, together with its subsidiary, engages in the real estate and construction businesses in India.

BLS E-Services

Market Cap: ₹18.8b

A technology enabled digital service company, provides assisted E-services and E-governance services in India and internationally.

Billion Industrial Holdings

Market Cap: HK$10.0b

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.

Era Media Sejahtera

Market Cap: Rp2.8t

Operates as an advertising media company in Indonesia.

Jadranski naftovod d.d

Market Cap: €806.1m

Engages in the transport and storage of crude oil and petroleum products in the Republic of Croatia and internationally.

GTS Internasional

Market Cap: Rp4.6t

PT GTS Internasional Tbk, together with its subsidiaries, transports liquefied natural gas worldwide.

Sun

Market Cap: MU₨7.7b

Operates in the tourism sector.

Shangri-La Hotel

Market Cap: ฿5.5b

Operates hotels in Bangkok and Chiang Mai provinces.

First Investment Company K.S.C.P

Market Cap: د.ك58.4m

First Investment Company K.S.C.C. is a Shariah compliant privately owned investment manager.

Scoda Tubes

Market Cap: ₹9.3b

Manufactures and sells stainless steel pipes and tubes in India and internationally.

Procimmo Group

Market Cap: CHF 364.9m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

3B Blackbio Dx

Market Cap: ₹11.9b

Engages in the design, development, manufacturing, and commercialization of molecular diagnostic solutions for infectious diseases, oncology, human genetics and antimicrobial resistance in India.

Banyan Tree Holdings

Market Cap: S$537.5m

An investment holding company, operates as a hospitality company in Singapore, rest of South East Asia, Indian Oceania, the Middle East, North East Asia, and internationally.

Abans Financial Services

Market Cap: ₹10.2b

Operates as a non-banking finance company in India and internationally.

Hospital Corporation of China

Market Cap: HK$819.0m

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

Taiyo KagakuLtd

Market Cap: JP¥39.5b

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

Pizu Group Holdings

Market Cap: HK$3.4b

An investment holding company, manufactures, trades, and sales of civil explosives in the People's Republic of China and Tajikistan.

Al-Ahleia Insurance CompanyK.P

Market Cap: د.ك190.2m

Engages in insurance and reinsurance operations in Kuwait.

Al-Enma'a Real Estate Company K.S.C.P

Market Cap: د.ك31.3m

Engages in the contracting, management, and maintenance of real estate in Kuwait and the Gulf Countries.

Vietnam National Reinsurance

Market Cap: ₫4.1t

Engages in providing inward and outward reinsurance services in Vietnam and internationally.

Gulf Insurance Group - Jordan

Market Cap: د.أ79.3m

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