Global Undiscovered Gems With Strong Fundamentals

Vantage

Market Cap: US$140.6m

Provides shipbroking services to the oil tanker industry in Singapore and Dubai.

Thai Steel Cable

Market Cap: ฿3.4b

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

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

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.

Taiyo KagakuLtd

Market Cap: JP¥29.8b

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

Forth Smart Service

Market Cap: ฿5.0b

Provides prepaid mobile top-up services in Thailand.

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.

Saha-Union

Market Cap: ฿8.6b

Engages in plastic, rubber and metal, chemicals, trading, energy, hotel, investment, and other businesses.

Central Finance

Market Cap: LK₨53.0b

Provides various financial solutions primarily in Sri Lanka.

Rotshtein Realestate

Market Cap: ₪1.3b

Develops and constructs residential projects in Israel.

Sociedad de Inversiones Oro Blanco

Market Cap: CL$966.9b

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

Itafos

Market Cap: CA$473.4m

Operates as a phosphate and specialty fertilizer company.

Sun

Market Cap: MU₨7.5b

Operates in the tourism sector.

Famous Brands

Market Cap: R6.4b

Through its subsidiaries, operates as a quick service and casual dining restaurant franchisor in the United Kingdom, South Africa, South African Development Community, Middle East, and Rest of Africa.

Gulf Island Fabrication

Market Cap: US$108.4m

Operates as a fabricator of steel structures and modules in the United States.

Martifer SGPS

Market Cap: €207.3m

Operates in the metallic constructions and renewable energy development sectors in Portugal, Angola, Saudi Arabia, Europe, and internationally.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺27.3b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

Kirac Galvaniz Telekominikasyon Metal Makine Insaat Elektrik Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺6.5b

Operates as a guardrail supplier company in Turkey.

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺6.7b

A real estate investment trust.

Citra Tubindo

Market Cap: Rp3.9t

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

Mark Dynamics Indonesia

Market Cap: Rp2.7t

Manufactures and sells hand former products in Indonesia and internationally.

Dogan Burda Dergi Yayincilik Ve Pazarlama

Market Cap: ₺7.3b

Dogan Burda Dergi Yayincilik Ve Pazarlama A.S.

Bank MNC Internasional

Market Cap: Rp2.3t

Provides various banking products and services in Indonesia.

Cahaya Aero Services

Market Cap: Rp4.4t

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.

Bakrie & Brothers

Market Cap: Rp5.0t

Through its subsidiaries, engages in the trading, construction, agribusiness, coal mining, oil and gas, and telecommunication business in Indonesia and internationally.

Mackolik Internet Hizmetleri Ticaret

Market Cap: ₺4.2b

Mackolik Internet Hizmetleri Ticaret A.S.

Nestlé Pakistan

Market Cap: PK₨321.5b

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

Evergent Investments

Market Cap: RON 1.2b

A publicly owned investment manager.

MOBI Industry

Market Cap: ر.س648.0m

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

Padma Oil

Market Cap: ৳17.6b

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

Nofoth Food Products

Market Cap: ر.س1.2b

Produces and sells bakery products in Saudi Arabia.

Sure Global Tech

Market Cap: ر.س616.0m

Provides technological and consultative solutions for public and private sectors in the Kingdom of Saudi Arabia.

Al-Deera Holding Company K.P.S.C

Market Cap: د.ك38.5m

A private equity firm specializing in direct and fund investments.

Invest Bank

Market Cap: د.أ221.3m

Provides various banking and related financial services in Jordan.

Baazeem Trading

Market Cap: ر.س554.9m

Operates as a FMCG distribution company.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.7b

Provides business and digital technology solutions in the Kingdom of Saudi Arabia.