Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

TSTE

Market Cap: ฿4.2b

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Cahaya Aero Services

Market Cap: Rp5.5t

Provides ground and cargo handling, aircraft release and maintenance, catering, facility management, and aviation training services in Indonesia.

Al Wathba National Insurance Company PJSC

Market Cap: د.إ683.1m

Engages in general insurance and reinsurance business in the United Arab Emirates and internationally.

Tri-County Financial Group

Market Cap: US$114.0m

Operates as a bank holding company for First State Bank, providing various banking and mortgage banking services and insurance services to individuals and businesses in the United States.

Freetrailer Group

Market Cap: €678.9m

Operates as a trailer rental company in Denmark, Sweden, Germany, and Norway.

Gulf Insurance Group - Jordan

Market Cap: د.أ85.8m

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

Cita Mineral Investindo

Market Cap: Rp16.2t

Engages in bauxite mining activities in Indonesia.

Sava druzba za upravljanje in financiranje d.d

Market Cap: €111.5m

Engages in tourism business.

Monolithisch India

Market Cap: ₹9.9b

Manufactures, trades in, and supplies ramming mass in India and Nepal.

Etihad Atheeb Telecommunication

Market Cap: ر.س3.6b

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

Yibin City Commercial Bank

Market Cap: HK$12.0b

Provides banking and financial products and services to small and micro enterprises in the People’s Republic of China.

Southern Michigan Bancorp

Market Cap: US$115.6m

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.

Baazeem Trading

Market Cap: ر.س556.9m

Operates as a FMCG distribution company.

MOBI Industry

Market Cap: ر.س558.0m

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

Nofoth Food Products

Market Cap: ر.س1.1b

Produces and sells bakery products in Saudi Arabia.

Najran Cement

Market Cap: ر.س1.3b

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

Fortune Mate Indonesia

Market Cap: Rp2.3t

Provides real estate development and construction services in Indonesia.

Luyuan Group Holding (Cayman)

Market Cap: HK$4.1b

Through its subsidiaries, development, manufacture, and sale of electric vehicles and related accessories in Mainland China.

Qassim Cement

Market Cap: ر.س4.6b

Engages in the manufacture and selling of cement in the Kingdom of Saudi Arabia.

Standard Chartered Bank Kenya

Market Cap: KSh110.0b

Provides various banking products and services for individuals and businesses.

Linde Bangladesh

Market Cap: ৳14.1b

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

Padma Oil

Market Cap: ৳19.3b

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

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.5b

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

Bank Ganesha

Market Cap: Rp2.6t

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

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

Market Cap: د.إ1.0b

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

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Billion Industrial Holdings

Market Cap: HK$9.1b

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.

Hospital Corporation of China

Market Cap: HK$925.4m

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

Digital Mediatama Maxima

Market Cap: Rp2.8t

Operates an integrated marketing platform.

Bank MNC Internasional

Market Cap: Rp2.7t

Provides various banking products and services in Indonesia.

Taiyo KagakuLtd

Market Cap: JP¥36.4b

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

Nusantara Pelabuhan Handal

Market Cap: Rp2.7t

Manages and operates container terminals in Indonesia and internationally.

National Credit and Commerce Bank

Market Cap: ৳14.4b

Provides various commercial banking products and services in Bangladesh.

SALUS Ljubljana d. d

Market Cap: €435.6m

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