Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

China Foods

Market Cap: HK$7.8b

An investment holding company, manufactures, distributes, markets, and sells Coca-Cola series products in the People’s Republic of China.

Bangchak Corporation

Market Cap: ฿42.3b

Engages in the refining and marketing of petroleum products in Thailand, Singapore, Norway, Korea, Laos, and internationally.

Miura

Market Cap: JP¥333.6b

Produces and sells boilers in Japan and internationally.

Tsingtao Brewery

Market Cap: HK$85.5b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

KH Neochem

Market Cap: JP¥99.9b

Researches, manufactures, and sells of petrochemical products in Japan and internationally.

Assetwise

Market Cap: ฿4.6b

Engages in property development and other real estate activities in Thailand.

Zhejiang Semir Garment

Market Cap: CN¥15.0b

Produces and sells casual apparels in China and internationally.

LX Semicon

Market Cap: ₩858.8b

Operates as a semiconductor company in South Korea, China, Vietnam, Taiwan, Japan, and internationally.

Gansu Shangfeng CementLtd

Market Cap: CN¥8.1b

Manufactures and sells building materials, and cement and cement clinker products in China.

Vardhman Textiles

Market Cap: ₹117.7b

Manufactures, purchases, and sells textiles and fibres in India and internationally.

Horizon Construction Development

Market Cap: HK$4.1b

Operates as an investment holding company that provides equipment operation services in the People's Republic of China.

Foxsemicon Integrated Technology

Market Cap: NT$31.0b

Engages in the research, development, design, manufacturing, and sale of semiconductor equipment subsystems and system integration in Taiwan, the United States, China, and internationally.

Indofood Sukses Makmur

Market Cap: Rp66.1t

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

Tenaga Nasional Berhad

Market Cap: RM 76.1b

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

Aeon (M) Bhd

Market Cap: RM 1.8b

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

CapitaLand Malaysia Trust

Market Cap: RM 2.1b

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.

Middle East Healthcare

Market Cap: ر.س5.3b

A healthcare provider, owns and operates a network of hospitals under the Saudi German Hospital name in the Middle East and North Africa.

Emaar Properties PJSC

Market Cap: د.إ126.8b

Engages in the property investment, development, and development management business in the United Arab Emirates and internationally.

Carlsberg

Market Cap: US$110.2b

Produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally.

Gecina

Market Cap: €6.2b

A leading operator, that fully integrates all real estate expertise, owning, managing, and developing a unique prime portfolio valued at 17.0bn Euro as at June 30, 2025.

PLDT

Market Cap: US$243.1b

Provides telecommunications and digital services in the Philippines.

DOF Group

Market Cap: €23.9b

Owns and operates a fleet of offshore and subsea vessels.

MGM Resorts International

Market Cap: US$10.1b

Through its subsidiaries, operates as a gaming and entertainment company in the United States, China, and internationally.

MONY Group

Market Cap: UK£1.1b

Engages in the provision of price comparison and lead generation services through its websites and applications in the United Kingdom.

TravelSky Technology

Market Cap: US$31.5b

Provides information technology (IT) solutions for the aviation and travel industries in the People’s Republic of China.

Grand Pharmaceutical Group

Market Cap: €31.4b

An investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical preparations and medical devices, biotechnology and healthcare products, and pharmaceutical raw materials.

Royal Unibrew

Market Cap: DKK 24.3b

Provides beer, soft drinks, malt beverages, energy drinks, cider/ready to drink, juice, water, and wine and spirits.

Havas

Market Cap: €1.5b

Provides communications and marketing services in France, the United Kingdom, rest of Europe, North America, Latin America, the Asia-Pacific, and Africa.

Bertrandt

Market Cap: €184.9m

Provides engineering services.

Arcadis

Market Cap: €3.6b

Offers design, engineering, architecture, and consultancy solutions for natural and built assets in The Americas, Europe, the Middle East, and the Asia Pacific.

Persimmon

Market Cap: UK£3.5b

Operates as a house builder in the United Kingdom.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.4b

Through its subsidiaries, produces and sells pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania.

Tsingtao Brewery

Market Cap: €85.5b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Capgemini

Market Cap: €21.2b

Provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America.

Crown Castle

Market Cap: US$41.6b

Crown Castle owns, operates and leases approximately 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S.