Global Capital Goods Undervalued based on future growth

Howa Machinery

Market Cap: JP¥13.3b

Engages in the manufacture and sale of machine tools, pneumatic and hydraulic equipment, electronic machines, sweepers, metal joinery fittings, firearms, construction materials, and construction machinery in Japan.

Enterprise Group

Market Cap: CA$122.5m

Through its subsidiaries, operates as an equipment rental and construction services company in Canada.

Kumpulan Kitacon Berhad

Market Cap: RM 372.8m

An investment holding company, provides construction services in Malaysia.

Haulotte Group

Market Cap: €74.2m

Through its subsidiaries, designs, manufactures, and markets people and material lifting equipment.

ILPRA

Market Cap: €68.0m

Engages in the design, production, and sale of packaging machines worldwide.

GnBS ecoLtd

Market Cap: ₩109.0b

Designs, produces, and sells products for preventing environmental pollution in South Korea.

Herige

Market Cap: €66.5m

Engages in the trading of building materials for professional and DIY customers primarily in France.

HSS Engineers Berhad

Market Cap: RM 322.9m

An investment holding company, provides engineering and project management primarily in Malaysia, the Middle East, Cambodia, the Philippines, India, and Indonesia.

Alfabs Australia

Market Cap: AU$114.6m

Engages in the mining equipment and engineering business in Australia.

CLERHP Estructuras

Market Cap: €63.2m

Engages in structural engineering and construction activities in Spain and internationally.

PGF Capital Berhad

Market Cap: RM 310.3m

Engages in the manufacture and trading of fiber glasswool and related products primarily in Malaysia, Oceania, and internationally.

United U-LI Corporation Berhad

Market Cap: RM 304.9m

An investment holding company, manufactures and trades in steel cable support systems, cable management systems, integrated ceiling systems, building materials, fluorescent light fittings, and LED products in Malaysia and internationally.

MGB Berhad

Market Cap: RM 298.8m

An investment holding company, engages in construction and property development activities in Malaysia.

Nordisk Bergteknik

Market Cap: SEK 678.3m

Provides rock handling and foundation solutions in Sweden, Norway, Finland, and internationally.

HAKI Safety

Market Cap: SEK 660.6m

Provides safety products and solutions for infrastructure, energy, industry, aviation, rail and construction, and civil engineering industries in Europe and North America.

Korea Parts & FastenersLtd

Market Cap: ₩94.6b

Manufactures and sells fasteners and automotive parts in South Korea and internationally.

LapWall Oyj

Market Cap: €53.2m

Manufactures and sells wooden elements for use in the construction of buildings in Finland.

Glaston Oyj Abp

Market Cap: €52.3m

Manufactures and sells glass processing machines in Finland, Europe, the Middle East, Africa, the Americas, China, and rest of Asia Pacific.

Inta Bina Group Berhad

Market Cap: RM 255.8m

An investment holding company, undertakes building construction projects in Malaysia.

Van Elle Holdings

Market Cap: UK£43.8m

Operates as a geotechnical and ground engineering contractor in the United Kingdom.

IRCE

Market Cap: €50.1m

Engages in manufacturing and selling of winding wires and electrical cables in Italy, rest of European Union, and internationally.

Stealth Group Holdings

Market Cap: AU$88.7m

Operates as an industrial distribution company in Australia and internationally.

PuequLTD

Market Cap: JP¥8.3b

Manufactures and sells pumps, blowers, air conditioners, and factory equipment in Japan.

ISOTeam

Market Cap: S$72.1m

Operates in the building maintenance and estate upgrading industry in Singapore.

ErreDue

Market Cap: €45.3m

Offers on-site production, mixing, and purification of technical gases solutions in Italy.

Netel Holding

Market Cap: SEK 485.1m

Provides construction and maintenance services for communication infrastructure and power networks in Sweden, Norway, Finland, Germany, and the United Kingdom.

Componenta

Market Cap: €40.5m

Provides cast iron components in Finland.

Kijcharoen Engineering Electric

Market Cap: ฿1.5b

Manufactures and distributes electrical cabinets, cable tray, and power solutions in Thailand.

Hercules

Market Cap: UK£33.4m

Engages in general construction and civil engineering businesses in the United Kingdom.

AWC Berhad

Market Cap: RM 187.8m

An investment holding company, provides integrated facilities management and engineering services.

LaserBond

Market Cap: AU$65.9m

A surface engineering company, engages in the development and application of materials, technologies, and methodologies to enhance operating performance and wear life of capital-intensive machinery components in Australia.

UPR

Market Cap: JP¥6.2b

Primarily engages in the rental and sale of pallets and logistics equipment in Japan.

EITA Resources Berhad

Market Cap: RM 173.5m

An investment holding company, manufactures, distributes, and sells elevators and busduct systems in Malaysia.

Light Up Total Solution

Market Cap: ฿1.3b

Designs and trades in lighting systems in Thailand.

Kitagawa SeikiLtd

Market Cap: JP¥5.4b

Engages in the manufacture and sale of press machines, factory automation equipment, and transfer machines.

DATRON

Market Cap: €30.7m

Designs, develops, manufactures, and sells various machining systems worldwide.