Global Undiscovered Gems With Strong Fundamentals

Vantage

Market Cap: US$140.6m

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

First National Bank of Botswana

Market Cap: P13.3b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

Decora

Market Cap: zł818.5m

Engages in the production, distribution, sale, and export of flooring products and accessories in Poland.

Solesence

Market Cap: US$269.2m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

Valhi

Market Cap: US$411.1m

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

Eurofins-Cerep

Market Cap: €103.9m

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

FRMO

Market Cap: US$374.9m

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

Pure Cycle

Market Cap: US$248.0m

Provides wholesale water and wastewater services in the United States.

La Forestière Equatoriale

Market Cap: €120.1m

Does not have any significant operations.

Viohalco

Market Cap: €1.5b

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

ANSA Merchant Bank

Market Cap: TT$3.4b

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

Purple Group

Market Cap: R2.1b

A financial services and technology company, engages in trading platforms, fractional property and crypto asset investing, retirement fund administration, and asset management businesses in South Africa.

Castellana Properties Socimi

Market Cap: €912.6m

As of December 20, 2016, Castellana Properties Socimi, S.A.

Inversiones Doalca SOCIMI

Market Cap: €154.2m

Inversiones Doalca Socimi, S.A., a real estate investment company, leases and rents real estate properties in Spain.

Metalpha Technology Holding

Market Cap: US$142.0m

Provides wealth management services in Hong Kong.

OUG Holdings

Market Cap: JP¥17.8b

Through its subsidiaries, engages in the wholesale of marine products in Japan.

Taisun Enterprise

Market Cap: NT$10.5b

Engages in the processing, manufacturing, wholesaling, and retailing of oil, food and beverages, and flour products in Taiwan.

Shenzhen Tongye TechnologyLtd

Market Cap: CN¥3.1b

Engages in the research and development, production, sale, and maintenance services of rail transit electrical equipment products in China.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Engages in the development and manufacture of generic and in-licensed medicines in Bulgaria.

Gulf Insurance Group - Jordan

Market Cap: د.أ80.1m

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

Shenzhen Zhongheng Huafa

Market Cap: CN¥2.5b

Produces and sells injection molded parts, foam parts, and liquid crystal display monitors.

Tokyo Tekko

Market Cap: JP¥47.0b

Engages in the manufacture and sale of steel products for the construction industry in Japan.

Sublime China Information

Market Cap: CN¥3.7b

Provides information and consulting services in China.

Oriental Precision & EngineeringLtd

Market Cap: ₩271.0b

Oriental Precision & Engineering Co.,Ltd.

Macpower CNC Machines

Market Cap: ₹9.0b

Manufactures and sells computer numerical control (CNC) metal cutting machines in India.

Morris State Bancshares

Market Cap: US$212.6m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

AGI Infra

Market Cap: ₹21.9b

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

Om Infra

Market Cap: ₹12.2b

Engages in the design, engineering, manufacture, supply, installation, testing, and commissioning of hydro mechanical equipment for hydroelectric power and irrigation projects in India and internationally.

Lotus Chocolate

Market Cap: ₹15.8b

Manufactures and sells chocolates, cocoa products, and cocoa derivatives to chocolate makers and users in India.

Wuxi Double Elephant Micro Fibre MaterialLtd

Market Cap: CN¥5.2b

Manufactures and sells artificial and synthetic leather products in the People’s Republic of China and internationally.

Indo Tech Transformers

Market Cap: ₹22.1b

Manufactures and distributes transformers in India and internationally.

Keli Motor Group

Market Cap: CN¥10.0b

Engages in the research and development, manufacture, and sale of micro motors in China.

CMC

Market Cap: JP¥19.0b

Provides manual creation, business process management, training, translation, and interpretation services in Japan.

BIOBIJOULtd

Market Cap: ₩271.4b

Engages in the research, development, manufacturing, and sale of skin booster and filler products in South Korea.

Goldiam International

Market Cap: ₹38.4b

Manufactures, sells, and trades in diamond studded gold, silver, and platinum jewelry in India.

Hyakugo Bank

Market Cap: JP¥175.1b

Provides various financial services to individual and corporate/sole proprietor customers in Japan.