Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

WemadeLtd

Market Cap: ₩926.3b

Develops and publishes games in South Korea and internationally.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp285.3t

Provides information and communications technology, and telecommunications network services worldwide.

Worley

Market Cap: AU$7.1b

Provides professional services to the energy, chemicals, and resources sectors in the Americas, Europe, the Middle East, Africa, Australia, the Asia Pacific, and China.

China Railway Group

Market Cap: CN¥131.9b

Operates as a multi-functional integrated construction company in Mainland China and internationally.

IPH

Market Cap: AU$920.4m

Provides intellectual property (IP) services and products.

Anker Innovations

Market Cap: CN¥61.5b

Develops and sells mobile charging products.

Aeon (M) Bhd

Market Cap: RM 1.8b

Operates and manages a retail chain of departmental stores and supermarkets in Malaysia.

Centurion

Market Cap: S$1.2b

Owns, develops, and manages workers and student accommodation assets in Singapore, Malaysia, Australia, the United Kingdom, and internationally.

Sasseur Real Estate Investment Trust

Market Cap: S$847.5m

Invests in a portfolio of real estate and related assets.

BOC Aviation

Market Cap: HK$47.2b

Operates as an aircraft operating leasing company in Mainland China, Hong Kong, Macau, Taiwan, rest of the Asia Pacific, the Americas, Europe, the Middle East, and Africa.

China Mengniu Dairy

Market Cap: HK$54.8b

An investment holding company, manufactures and distributes dairy products under the MENGNIU brand in the People’s Republic of China and internationally.

Ganyuan Foods

Market Cap: CN¥4.9b

Engages in the research and development, production, and sale of snack foods in China.

AB Volvo

Market Cap: US$503.5b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania.

Kaufman & Broad

Market Cap: €559.9m

Operates as a property developer and builder in France.

Tenaga Nasional Berhad

Market Cap: RM 76.4b

Engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally.

CapitaLand Malaysia Trust

Market Cap: RM 2.0b

CapitaLand Malaysia Trust (CLMT) is a real estate investment trust (REIT) and was listed on the Main Market of Bursa Malaysia Securities Berhad on 16 July 2010.

Beijing New Building Materials

Market Cap: CN¥40.8b

Manufactures and sells building materials in China and internationally.

China Resources Land

Market Cap: HK$207.7b

An investment holding company, engages in the investment, development, management, and sale of properties in the People’s Republic of China.

Indofood Sukses Makmur

Market Cap: Rp62.6t

Operates as a food solutions company in Indonesia, the Middle East, Africa, the rest of Asia, and internationally.

Livzon Pharmaceutical Group

Market Cap: CN¥30.9b

Researches, develops, produces, exports, and sells pharmaceutical products, and active pharmaceutical ingredients and intermediates in the People’s Republic of China.

Shenzhen Transsion Holdings

Market Cap: CN¥87.4b

Provides smart devices and mobile services in Africa, South and Southeast Asia, the Middle East, Latin America, and internationally.

Summerset Group Holdings

Market Cap: AU$2.8b

Develops, owns, and operates integrated retirement villages in New Zealand and Australia.

Proya CosmeticsLtd

Market Cap: CN¥30.7b

A beauty and personal care company, researches, develops, produces, and sells cosmetics in China.

Anhui Conch Cement

Market Cap: CN¥123.1b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Stanmore Resources

Market Cap: AU$2.1b

Engages in the exploration, development, production, and sale of metallurgical coal in Australia.

Monash IVF Group

Market Cap: AU$278.6m

Engages in the provision of assisted reproductive and specialist women imaging services in Australia and Malaysia.

Hu Lane Associate

Market Cap: NT$15.1b

Engages in manufacture and sale of terminal devices, terminal crimping, industrial rubber, and plastic products in Taiwan.

Austevoll Seafood

Market Cap: NOK 20.1b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Sulzer

Market Cap: CHF 4.3b

Develops and sells products and services for fluid engineering and chemical processing applications worldwide.

Globe Life

Market Cap: US$10.9b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Angel Oak Mortgage REIT

Market Cap: US$216.0m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

Gen Digital

Market Cap: US$16.3b

Engages in the provision of cyber safety solutions for or individuals, families, and small businesses.

Royalty Pharma

Market Cap: US$21.6b

Operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry in the United States.

Fortune Brands Innovations

Market Cap: US$6.0b

Engages in the provision of home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally.

Carmila

Market Cap: €2.4b

As the third-largest listed owner of commercial property in Europe, Carmila was founded by Carrefour and large institutional investors in order to enhance the value of shopping centres adjoining Carrefour hypermarkets in France, Spain and Italy.