Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

China Resources Land

Market Cap: HK$212.5b

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

Worley

Market Cap: AU$7.3b

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

Horizon Construction Development

Market Cap: HK$4.0b

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

IPH

Market Cap: AU$951.8m

Provides intellectual property (IP) services and products.

Anhui Conch Cement

Market Cap: CN¥131.7b

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

Star Lake BioscienceZhaoqing Guangdong

Market Cap: CN¥12.4b

Engages in the manufacture and sale of pharmaceutical raw materials, and food and feed additives under the Star Lake and Yue Bao brand names in China and internationally.

Ganyuan Foods

Market Cap: CN¥5.1b

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

IRB Infrastructure Developers

Market Cap: ₹246.6b

Engages in the infrastructure development business in India.

Trajan Group Holdings

Market Cap: AU$112.9m

Develops, manufactures, and sells analytical and life science products and devices in Malaysia, Japan, Australia, New Zealand, the United States, Europe, the Middle East, Africa, and India.

Tenaga Nasional Berhad

Market Cap: RM 76.6b

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

Proya CosmeticsLtd

Market Cap: CN¥31.8b

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

Bethel Automotive Safety Systems

Market Cap: CN¥32.4b

Develops, manufactures, and sells automotive safety systems and advanced driver assistance systems in China.

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥9.0b

Manufactures and sells steel structures and supporting products in China and internationally.

Monash IVF Group

Market Cap: AU$261.1m

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

China Mengniu Dairy

Market Cap: HK$57.9b

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

LX Semicon

Market Cap: ₩891.3b

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

Proya CosmeticsLtd

Market Cap: CN¥31.8b

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

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.

Corpovael. de

Market Cap: Mex$988.6m

Engages in the design, urbanization, construction, promotion, and sale of homes in Mexico.

Beijing Urban Construction Investment & Development

Market Cap: CN¥10.5b

Beijing Urban Construction Investment & Development Co., Ltd.

Assetwise

Market Cap: ฿4.9b

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

Cheerwin Group

Market Cap: HK$3.0b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

Anhui Honglu Steel Construction(Group)

Market Cap: CN¥9.0b

Manufactures and sells steel structures and supporting products in China and internationally.

China Railway Group

Market Cap: CN¥127.0b

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

Security Bank

Market Cap: ₱52.8b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

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.

REC

Market Cap: ₹979.6b

Engages in the provision of financing services for power generation, transmission, and distribution projects in India.

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.

China Mobile

Market Cap: HK$1.9t

Provides telecommunications and information related services in Mainland China and Hong Kong.

Bank of China

Market Cap: HK$1.7t

Provides various banking and financial services in Chinese Mainland, Hong Kong, Macao, Taiwan, and internationally.

True Corporation

Market Cap: ฿366.3b

Provides telecommunications and value-added services in Thailand.

Jiangsu King's Luck Brewery Ltd

Market Cap: CN¥49.5b

Jiangsu King's Luck Brewery Joint-Stock Co.,Ltd.

Sasseur Real Estate Investment Trust

Market Cap: S$860.1m

Invests in a portfolio of real estate and related assets.

Jiangsu Changshu Rural Commercial Bank

Market Cap: CN¥23.0b

Jiangsu Changshu Rural Commercial Bank Co., Ltd.

Sinoma International EngineeringLtd

Market Cap: CN¥23.1b

Engages in the engineering, equipment manufacture and supply, and other businesses in China and internationally.