Global Undervalued based on future growth

Zumtobel Group

Market Cap: €177.8m

Operates in the lighting industry worldwide.

Adairs

Market Cap: AU$287.3m

Operates as a specialty retailer of home furnishings, furniture, and decoration products in Australia and New Zealand.

JVM

Market Cap: ₩304.1b

Develops and sells automation systems and software of dispensing, packaging, and medication management for hospitals and pharmacies worldwide.

Astron

Market Cap: AU$286.9m

Engages in the exploration, evaluation, and development of mining projects in Australia, China, and internationally.

trivago

Market Cap: US$204.8m

Operates a hotel and accommodation search platform in the United States, Germany, the United Kingdom, Canada, Japan, and internationally.

Avalue Technology Incorporation

Market Cap: NT$6.5b

Engages in the production, processing, and sale of industrial computers in Taiwan, the Americas, Europe, Asia, and internationally.

Liontrust Asset Management

Market Cap: UK£152.3m

Liontrust Asset Management Plc is a publicly owned investment manager.

TSUKADA GLOBAL HOLDINGS

Market Cap: JP¥32.3b

Through its subsidiaries, engages in the planning, development, and ownership of guest houses, hotels, and restaurants in Japan and internationally.

Quang Viet Enterprise

Market Cap: NT$6.4b

Manufactures, process, and sells garments in Taiwan.

Imperial Petroleum

Market Cap: US$202.3m

Provides seaborne transportation services worldwide.

Acrow

Market Cap: AU$282.0m

Provides smart integrated construction systems across formwork, industrial services, and commercial scaffolding in Australia.

Thai Union Feedmill

Market Cap: ฿6.4b

Manufactures and distributes animal feeds in Thailand, Sri Lanka, Pakistan, Indonesia, and internationally.

GOLFZON

Market Cap: ₩297.6b

Engages in the manufacture and sale of golf simulators in South Korea and internationally.

ADF Group

Market Cap: CA$271.3m

Engages in the design and engineering of connections including industrial coatings in Canada and the United States.

UNISEM

Market Cap: ₩295.3b

Manufactures and sells semiconductor equipment and components in South Korea and internationally.

LHN

Market Cap: S$254.3m

An investment holding company, engages in space optimization, property development, facilities management services, and energy businesses in Singapore, Hong Kong, Myanmar, Indonesia, and Cambodia.

Port

Market Cap: JP¥31.6b

Operates various domain-specific vertical media and develops content marketing for user needs in Japan.

Capacit'e Infraprojects

Market Cap: ₹18.2b

Engages in the engineering, procurement, and construction business in India.

Fenix Resources

Market Cap: AU$275.6m

Provides mining, logistics, and port services in Western Australia.

Air Link Communication

Market Cap: PK₨54.8b

Engages in importing, exporting, distribution, wholesale, and retail of communication and IT related products and services in Pakistan.

Marubun

Market Cap: JP¥31.2b

Distributes electronics products in Japan and internationally.

Coliwoo Holdings

Market Cap: S$250.0m

An investment holding company, operates co-living properties in Singapore.

Mpact

Market Cap: R3.2b

Engages in the paper and plastic packaging, and recycling business in South Africa and internationally.

Jalles Machado S/A

Market Cap: R$1.0b

Produces, markets, and exports sugar, ethanol, and other by-products from sugarcane.

Tongdao Liepin Group

Market Cap: HK$1.5b

An investment holding company, provides talent acquisition services in the People’s Republic of China.

Asia Sermkij Leasing

Market Cap: ฿6.1b

Engages in the provision of auto hire purchase services in Thailand.

Aitken Spence

Market Cap: LK₨60.0b

Operates as a diversified conglomerate in Sri Lanka, Maldives, and internationally.

BRCK Group

Market Cap: UK£143.4m

Distributes specialist products and services to the construction industry in the United Kingdom.It operates through four segments: Bricks and Building Materials; Importing; Distribution; and Contracting.

Seven Hills Realty Trust

Market Cap: US$192.3m

A real estate investment trust, focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate in the United States.

ULS Group

Market Cap: JP¥30.5b

Provides consulting and contract development services related to information systems in Japan.

OP Bancorp

Market Cap: US$191.9m

Operates as the bank holding company for Open Bank that provides banking products and services.

Jadestone Energy

Market Cap: UK£142.9m

Operates as an independent oil and gas development and production company in Australia, Malaysia, Indonesia, and Vietnam.

FreightCar America

Market Cap: US$190.9m

Through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico.

Cherry Trading

Market Cap: ر.س714.3m

Engages in the wholesale and retail trade in new and used private cars.

CHC Healthcare Group

Market Cap: NT$6.0b

Trades in medical equipment, pharmaceutical products, and health food in Taiwan, China, and internationally.

Instabank

Market Cap: NOK 1.8b

Provides various banking products and services in Norway.