Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Vantage

Market Cap: US$139.6m

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

Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺4.6b

Engages in the production and sale of cotton and synthetic yarn in Turkey and internationally.

Famous Brands

Market Cap: R5.8b

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.

Cyprus Cement

Market Cap: €155.0m

Engages in the manufacturing and sale of cement and related business in Cyprus.

FRMO

Market Cap: US$396.1m

Through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States.

Southern Michigan Bancorp

Market Cap: US$109.9m

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.

Viohalco

Market Cap: €1.6b

Through its subsidiaries, manufactures, and sells aluminium, copper, cables, and steel and steel pipe products.

NSIA Banque Société Anonyme

Market Cap: XOF 235.1b

Provides various banking products and services.

Lampsa Hellenic Hotels

Market Cap: €854.6m

Operates and manages hotels in Greece, Cyprus, and Serbia.

Colorado

Market Cap: د.م983.2m

Manufactures and distributes various paints in Morocco and internationally.

Valhi

Market Cap: US$490.3m

Engages in the chemicals, component products, and real estate management and development businesses in Europe, North America, the Asia Pacific, and internationally.

Evergent Investments

Market Cap: RON 1.4b

A publicly owned investment manager.

La Forestière Equatoriale

Market Cap: €108.8m

Does not have any significant operations.

First Bancorp

Market Cap: US$278.8m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

Rich Sparkle Holdings

Market Cap: US$312.3m

Provides financial printing and corporate services in Hong Kong.

Eurofins-Cerep

Market Cap: €90.8m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺9.9b

Produces and trades in frozen and canned products in Turkey.

ANSA Merchant Bank

Market Cap: TT$3.3b

Provides a range of banking and financial services in Trinidad and Tobago, and Barbados.

Jadranski naftovod d.d

Market Cap: €846.4m

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

ABG Sundal Collier Holding

Market Cap: NOK 3.5b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 318.0b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

Reitar Logtech Holdings

Market Cap: US$271.6m

Through its subsidiaries, provides construction management and engineering design services.

Transnational Corporation of Nigeria

Market Cap: ₦517.2b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Wema Bank

Market Cap: ₦426.5b

Provides banking and other financial services to corporate and individual customers in Nigeria.

Acsion

Market Cap: R2.2b

Engages in property holding and development activities in South Africa and internationally.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 70.9b

Processes heavy bitumen crude in Africa.

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺11.1b

Produces and sells various cleaning materials and painting brushes in Turkey and internationally.

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺4.5b

Engages in the production and sale of food products in Turkey.

Dekpol

Market Cap: zł607.1m

Dekpol S.A. primary engages in the general contracting and property development businesses in Poland.

Chilanga Cement

Market Cap: K6.1b

Engages in the manufacture and sale of cement products in Zambia.

Amir Marketing and Investments in Agriculture

Market Cap: ₪425.4m

Supplies and markets agricultural inputs in Israel.

C. Mer Industries

Market Cap: ₪407.1m

Provides solutions in the areas of homeland security (HLS), communication infrastructure, and defense technologies.

Zambia Sugar

Market Cap: K13.2b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

Mendelson Infrastructures & Industries

Market Cap: ₪703.7m

Mendelson Infrastructures & Industries Ltd.

Terminal X Online

Market Cap: ₪660.0m

Offers clothing, footwear, fashion accessories, cosmetics, and beauty products for men, women, and teenager under various brands through online.