Global Undiscovered Gems With Strong Fundamentals

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.

Citra Tubindo

Market Cap: Rp4.7t

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

Ruentex Interior Design

Market Cap: NT$3.5b

Engages in the interior design and decoration, landscape design engineering, and construction businesses in Taiwan.

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.

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp19.2t

Manufactures and sells paper products in Asia, Africa, Europe, the United States, the Middle East, and internationally.

Shenzhen Coship Electronics

Market Cap: CN¥7.6b

Engages in the manufacture and sale of smart home products and services worldwide.

Bakrie & Brothers

Market Cap: Rp4.9t

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

Li Ming Development Construction

Market Cap: NT$5.0b

Li Ming Development Construction Co., Ltd.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Jamuna Bank

Market Cap: ৳14.8b

Provides various banking products and services in Bangladesh.

Shanghai Pioneer Holding

Market Cap: HK$2.5b

An investment holding company, engages in marketing, promotion and channel management of pharmaceutical products and medical devices primarily in the People’s Republic of China.

Sun

Market Cap: MU₨6.5b

Operates in the tourism sector.

Pizu Group Holdings

Market Cap: HK$1.6b

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

Eclatorq Technology

Market Cap: NT$3.3b

Manufactures and sells hand tools in Taiwan.

Gulf Insurance Group - Jordan

Market Cap: د.أ80.6m

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

Padma Oil

Market Cap: ৳17.6b

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Linde Bangladesh

Market Cap: ৳12.8b

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

Mark Dynamics Indonesia

Market Cap: Rp2.8t

Manufactures and sells hand former products in Indonesia and internationally.

Bank MNC Internasional

Market Cap: Rp2.3t

Provides various banking products and services in Indonesia.

Dwi Guna Laksana

Market Cap: Rp2.4t

Engages in the coal mining and trading activities in Indonesia.

AB Vilkyskiu pienine

Market Cap: €133.2m

Engages in the production and sale of dairy products in Lithuania, the rest of the European Union, and internationally.

Surya Toto Indonesia

Market Cap: Rp2.4t

Manufactures and sells sanitary, fittings, kitchen systems, and other related products in Indonesia and internationally.

ManpowerGroup Greater China

Market Cap: HK$888.1m

An investment holding company, provides workforce solutions and services in the People’s Republic of China, Hong Kong, Macau, and Taiwan.

Misr Beni Suef CementE

Market Cap: ج.م6.6b

Produces and sells cement products in Egypt and internationally.

Analyst I.M.S. Investment Management Services

Market Cap: ₪1.1b

A publicly owned investment manager.

Sociedad Matriz SAAM

Market Cap: CL$1.2t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

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.

Jordanian Duty Free Shops

Market Cap: د.أ150.8m

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

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺7.0b

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

Transnational Corporation of Nigeria

Market Cap: ₦468.0b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 268.3b

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

Bank of Africa Mali

Market Cap: XOF 82.4b

Provides various banking products and services to individuals, business customers, and SMEs in Mali.

Purple Group

Market Cap: R2.0b

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.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺24.9b

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

Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative

Market Cap: €1.2b

Provides a range of banking and financial products and services to individuals, farmers, professionals, businesses, and public authorities in France.