Global Capital Goods Undervalued based on future growth

COWINTECH

Market Cap: ₩103.7b

Engages in the design, manufacture, and installation of logistics automation systems.

Suzumo Machinery

Market Cap: JP¥11.3b

Manufactures and sells food machines for small kitchens and factories worldwide.

Billington Holdings

Market Cap: UK£53.0m

Through its subsidiaries, provides structural steel and construction safety solutions in the United Kingdom.

Nordisk Bergteknik

Market Cap: SEK 649.6m

Provides rock handling, foundation work, and mining services for the infrastructure, construction, and mining industries in Sweden, Norway, Finland, and internationally.

Power Engineering Consulting 2

Market Cap: ₫1.8t

Engages in the investigation, planning, design, supervision, and construction management of power source and grid projects in Vietnam.

IRCE

Market Cap: €58.6m

Engages in the winding conductors and electrical cables sector in Italy, the European Union, and the rest of European Union.

HAKI Safety

Market Cap: SEK 641.0m

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

HSS Engineers Berhad

Market Cap: RM 272.0m

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

Northern Solar Holdings Berhad

Market Cap: RM 269.0m

Engages in the engineering, procurement, construction, and commissioning of solar photovoltaic (PV) systems for commercial, industrial, and residential buildings in Malaysia.

Austin Engineering

Market Cap: AU$93.5m

Manufactures, repairs, overhauls, and supplies mining attachment products, and other related products and services for the industrial and resources-related business sectors.

MGB Berhad

Market Cap: RM 254.3m

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

AmogreentechLtd

Market Cap: ₩87.9b

Provides various products for IT, energy, nano, environment, and bio industries in South Korea and internationally.

MaxiPARTS

Market Cap: AU$85.0m

Distributes and sells commercial truck and trailer parts, and automotive tools and workshop consumables in Australia.

Inta Bina Group Berhad

Market Cap: RM 227.7m

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

Energy Time

Market Cap: €45.0m

Engages in the development, engineering, procurement, construction, operation, and maintenance of photovoltaic and thermal systems in Italy.

UPR

Market Cap: JP¥7.7b

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

Boom Logistics

Market Cap: AU$69.3m

Provides lifting solutions to mining and resources, infrastructure and construction, wind, energy, utilities, industrial maintenance, and telecommunications sectors in Australia.

Kijcharoen Engineering Electric

Market Cap: ฿1.6b

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

Kawan Renergy Berhad

Market Cap: RM 192.5m

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

ISOTeam

Market Cap: S$59.7m

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

LaserBond

Market Cap: AU$65.2m

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.

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$54.1m

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.

AWC Berhad

Market Cap: RM 153.3m

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

TRC Synergy Berhad

Market Cap: RM 129.6m

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

LION E-Mobility

Market Cap: €26.7m

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

Texchem Resources Bhd

Market Cap: RM 124.7m

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

QleanAir

Market Cap: SEK 288.3m

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

West River Berhad

Market Cap: RM 110.9m

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

Environmental Group

Market Cap: AU$38.0m

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.

AVTECH Sweden

Market Cap: SEK 254.2m

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

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: €13.1m

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.