Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

OUG Holdings

Market Cap: JP¥19.4b

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

Cresco

Market Cap: JP¥66.7b

Engages in the provision of information technology (IT) services and digital solutions in Japan.

QuickLtd

Market Cap: JP¥42.0b

Engages in the recruiting, human resources service, information publishing, and Internet-related businesses in Japan and internationally.

Luxchem Corporation Berhad

Market Cap: RM 443.6m

An investment holding company, imports, exports, and distributes petrochemical and other related products in Malaysia and internationally.

Nikko

Market Cap: JP¥28.1b

Engages in the manufacture and sale of asphalt mixing and concrete batching plants in Asia.

ITOCHU-SHOKUHIN

Market Cap: JP¥124.3b

Engages in the wholesale of food products and alcoholic beverages in Japan.

Britam Holdings

Market Cap: KSh20.9b

An investment holding company, provides financial solutions in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.

Standard Chartered Bank Kenya

Market Cap: KSh115.1b

Provides various banking products and services for individuals and businesses.

CMC

Market Cap: JP¥19.6b

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

Transnational Corporation of Nigeria

Market Cap: ₦508.1b

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

Inversiones Doalca SOCIMI

Market Cap: €153.0m

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

Oakworth Capital

Market Cap: US$159.8m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

Metalpha Technology Holding

Market Cap: US$126.0m

Provides wealth management services in Hong Kong.

Senstar Technologies

Market Cap: US$105.9m

Provides physical, video, and access control security products and solutions worldwide.

FALCO HOLDINGS

Market Cap: JP¥22.7b

A medical service company, provides clinical testing and dispensing pharmacy services to medical institutions and companies in Japan.

Araya Industrial

Market Cap: JP¥23.1b

Manufactures and sells steel products in Japan and internationally.

Shangri-La Hotel

Market Cap: ฿6.3b

Operates hotels in Bangkok and Chiang Mai provinces.

TOMONY Holdings

Market Cap: JP¥117.4b

Through its subsidiaries, provides various banking and financial products and services.

KinjiroLtd

Market Cap: JP¥16.7b

Provides human resource management (HRM) solution services.

Ogaki Kyoritsu Bank

Market Cap: JP¥116.9b

A regional financial institution, provides various financial products and services in Japan and internationally.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.8b

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

Toukei Computer

Market Cap: JP¥69.6b

Engages in the system design, development, and operation of solutions for various industries and businesses in Japan.

NICO Holdings

Market Cap: MK 1.0t

Engages in general insurance, life assurance, pension administration, banking, corporate finance advisory, asset management, information technology (IT) businesses in in Malawi, Zambia, Uganda, and Mozambique.

NSIA Banque Société Anonyme

Market Cap: XOF 244.9b

Provides various banking products and services.

Gulf Island Fabrication

Market Cap: US$113.1m

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

Valhi

Market Cap: US$500.3m

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

First National Bank of Botswana

Market Cap: P13.5b

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

Itafos

Market Cap: CA$573.9m

Operates as a phosphate and specialty fertilizer company.

ANSA Merchant Bank

Market Cap: TT$3.3b

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

FineMark Holdings

Market Cap: US$525.1m

Operates as the bank holding company for FineMark National Bank & Trust that provides various banking and financial services to individual and corporate clients.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 302.9b

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

Reitar Logtech Holdings

Market Cap: US$238.5m

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

Vantage

Market Cap: US$140.3m

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

Pure Cycle

Market Cap: US$240.0m

Provides wholesale water and wastewater services in the United States.

Zona Franca de Iquique

Market Cap: CL$222.4b

Operates premises for wholesale and retail business centers in the duty-free zones of South America.