Global Undervalued based on future growth

Avaland Berhad

Market Cap: RM 291.4m

An investment holding company, operates as a property development company in Malaysia.

Last One MileLtd

Market Cap: JP¥11.4b

Engages in last mile business in Japan and internationally.

Allied Digital Services

Market Cap: ₹6.7b

Designs, develops, deploys, and delivers end-to-end IT infrastructure services and digital solutions in India, rest of Asia, the United States, Australia, Europe, and the Middle East.

Helbor Empreendimentos

Market Cap: R$387.5m

Engages in the real estate development business in Brazil.

Internet Thailand

Market Cap: ฿2.3b

Provides ICT infrastructure services in Thailand.

Kawan Renergy Berhad

Market Cap: RM 286.0m

An investment holding company, designs, fabricates, installs, and commissions industrial process equipment, process plants, and renewable energy and co-generation plants in Malaysia, Indonesia, Singapore, the United States, and internationally.

Malee Group

Market Cap: ฿2.3b

Manufactures and distributes fruit juices, canned fruit, milk and cereal drink, and non-alcohol beverage products in Thailand and internationally.

MGB Berhad

Market Cap: RM 284.0m

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

G5 Entertainment

Market Cap: SEK 648.8m

Develops and publishes free-to-play games for smartphones, tablets, and personal computers in Sweden.

STV Group

Market Cap: UK£52.5m

Produces and broadcasts television programs in the United Kingdom.

CombinedX

Market Cap: SEK 640.8m

Provides technology solutions to companies and organizations.

Billington Holdings

Market Cap: UK£51.6m

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

Cypress Holdings

Market Cap: JP¥10.7b

Operates and manages a food store that offers various Japanese food brands in Japan.

Bodal Chemicals

Market Cap: ₹6.3b

Engages in the manufacture and sale of dyestuffs, dyes intermediates, and other chemicals in India.

Interworks Confidence

Market Cap: JP¥10.6b

Provides temporary staffing and job placement services in Japan.

Raonsecure

Market Cap: ₩99.8b

Provides mobile and IoT integrated security solutions.

HBR Realty Empreendimentos Imobiliários

Market Cap: R$359.3m

HBR Realty Empreendimentos Imobiliários S.A.

LapWall Oyj

Market Cap: €58.1m

Manufactures and sells wooden construction element in Finland.

Lument Finance Trust

Market Cap: US$68.6m

A real estate investment trust, focuses on investing in, financing, and managing a portfolio of commercial real estate (CRE) debt investments in the United States.

Radius Residential Care

Market Cap: NZ$112.5m

Provides health and aged care services for elderly and disabled people in New Zealand.

HAKI Safety

Market Cap: SEK 605.1m

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

IRCE

Market Cap: €57.1m

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

Dong In Entech

Market Cap: ₩96.6b

Manufactures and sells backpacks and sports equipment in South Korea.

Baguio Green Group

Market Cap: HK$518.8m

An investment holding company, provides environmental and related services in Hong Kong, Mainland China, and Southeast Asia.

Inta Bina Group Berhad

Market Cap: RM 258.2m

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

Borgestad

Market Cap: NOK 631.1m

Focuses on real estate and refractory in Norway.

Mr.Bricolage

Market Cap: €55.3m

Engages in retailing of renovation, home, and garden decoration products.

Notion VTec Berhad

Market Cap: RM 255.1m

An investment holding company, engages in design, manufacture, and sale of precision components and tools.

Tinde Sparebank

Market Cap: NOK 621.8m

Operates as a savings bank that provides various financial products and services to retail and corporate customers in Romsdal and southern parts of Nordmøre.

Terranor Group

Market Cap: SEK 580.0m

Operates as infrastructure and road maintenance company in Sweden, Denmark, and Finland.

Vishnu Prakash R Punglia

Market Cap: ₹5.8b

Engages in engineering, procurement, and construction of infrastructure projects in India.

Toivo Group Oyj

Market Cap: €54.4m

Operates as a real estate company.

Cnergenz Berhad

Market Cap: RM 251.5m

An investment holding company, provides electronics manufacturing solutions in Malaysia, Thailand, Vietnam, rest of Asia, and internationally.

Sparebank 68° Nord

Market Cap: NOK 610.9m

A savings bank, provides various banking services to the personal and corporate market in Norway.

Yoong Onn Corporation Berhad

Market Cap: RM 250.7m

An investment holding company, designs, manufactures, distributes, trades, and retails home linen, bedding accessories, and homewares in Malaysia.

Yenher Holdings Berhad

Market Cap: RM 249.0m

An investment holding company, manufactures, supplies, and markets animal health and nutrition products for livestock and companion animals in Malaysia and internationally.