Global Capital Goods Undervalued based on future growth

Kawan Renergy Berhad

Market Cap: RM 198.0m

An investment holding company, designs, fabricates, installs, and/or commissions industrial process equipment, process plants, and renewable energy and co-generation plants.

UPR

Market Cap: JP¥7.5b

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

Kijcharoen Engineering Electric

Market Cap: ฿1.6b

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

LaserBond

Market Cap: AU$66.4m

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.

ISOTeam

Market Cap: S$58.1m

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

Econpile Holdings Berhad

Market Cap: RM 184.3m

An investment holding company, provides piling and foundation services in Malaysia and Cambodia.

Sanli Environmental

Market Cap: S$51.7m

Operates as an environmental engineering company in the field of water and waste management in Singapore, Myanmar, Malaysia, and Thailand.

Infrea

Market Cap: SEK 377.0m

Engages in maintaining, improving and expanding infrastructure in Sweden.

Borgosesia

Market Cap: €34.0m

Primarily invests in non-performing and alternative assets.

Odyssee Technologies

Market Cap: €32.0m

Engages in the provision of precision mechanics for the aeronautics, defense, space and energy markets.

AWC Berhad

Market Cap: RM 148.3m

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

Texchem Resources Bhd

Market Cap: RM 130.5m

An investment holding company, engages in industrial, polymer engineering, food, restaurant, and venture businesses.

TRC Synergy Berhad

Market Cap: RM 129.6m

An investment holding company, operates in the construction business in Malaysia and Australia.

AVTECH Sweden

Market Cap: SEK 298.2m

Engages in the development and sale of products and services for digital air traffic management systems.

LION E-Mobility

Market Cap: €26.2m

Through its subsidiaries, engages in the development, production, and distribution of battery modules and packs, and battery management systems in Switzerland.

QleanAir

Market Cap: SEK 281.6m

Provides air cleaning solutions for indoor environments in Sweden and internationally.

Environmental Group

Market Cap: AU$40.0m

Engages in the design, application, and servicing of gas, vapor and dust emission control systems, and inlet and exhaust systems for gas turbines in Australia and internationally.

West River Berhad

Market Cap: RM 107.3m

An investment holding company, provides mechanical and electrical engineering services in Malaysia.

Vimi Fasteners

Market Cap: €17.0m

Engages in the design and production of fastening elements for the industrial, automotive, energy, oil and gas, and aerospace sectors in Italy and internationally.

Norrhydro Group Oyj

Market Cap: €13.2m

Develops, manufactures, and sells hydraulic cylinders and linear motion control systems in the Nordic countries.

LPA Group

Market Cap: UK£10.9m

Engages in the design, manufacture, and marketing of industrial electrical and electronic products in the United Kingdom, rest of Europe, and internationally.

ELSA Solutions

Market Cap: €8.3m

Develops products and solutions for industrial automation and power electronics in Italy.

Techno Electrical Management Equipment Solutions

Market Cap: €4.4m

Techno Electrical Management Equipment Solutions S.p.A.