Global Undervalued based on future growth

Haugesund Sparebank

Market Cap: NOK 393.8m

A savings bank, provides various financial products and services to individuals and corporate customers in Norway.

ASO International

Market Cap: JP¥5.6b

Operates in orthodontics business in Japan.

Maintel Holdings

Market Cap: UK£28.7m

Maintel Holdings Plc, along with its subsidiaries, provides managed services for both the public and private sectors in the United Kingdom and Ireland.

Tanachira Retail Corporation

Market Cap: ฿1.3b

Operates as a fashion lifestyle retailer in Thailand, China, Vietnam, Japan, Taiwan, Singapore, the Kingdom of Saudi Arabia, Norway, and internationally.

ContextVision

Market Cap: NOK 379.1m

A software company, engages in the provision of image analysis and imaging for medical systems in Asia, Europe, and America.

Netgem

Market Cap: €33.1m

Develops, operates, and distributes the NetgemTV digital video entertainment platform in France and Europe.

Hulamin

Market Cap: R679.7m

Engages in the manufacture and distribution of rolled and extruded aluminum products in South Africa, North America, Europe, Asia, the Middle East, Australasia, South America, and rest of Africa.

Zambeef Products

Market Cap: K901.7m

Engages in the agri-businesses in Zambia, Nigeria, and Ghana.

P&H Tech

Market Cap: ₩52.0b

Develops, produces, and sells organic light emitting diode (OLED) materials and catalysts.

DATRON

Market Cap: €32.9m

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

Infraset

Market Cap: ฿1.2b

Infraset Public Company Limited constructs data centers, information technology system, infrastructure, and telecommunication transportation infrastructure in Thailand.

Bulmetal JSC

Market Cap: лв63.3m

Manufactures and sells metal packaging for food and chemical industries in Bulgaria.

Panjawattana Plastic

Market Cap: ฿1.2b

Manufactures and distributes plastic packaging and industrial plastic parts in Thailand and internationally.

Kuroda Precision Industries

Market Cap: JP¥5.2b

Manufactures and sells motion control systems, press tools and die systems, and machine tools and measurement systems worldwide.

Kitagawa SeikiLtd

Market Cap: JP¥5.2b

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

Tinde Sparebank

Market Cap: NOK 356.8m

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

Winstar Capital Berhad

Market Cap: RM 152.3m

An investment holding company, engages in manufacturing, Fabrication, and selling of aluminium products in Malaysia.

Reckon

Market Cap: AU$54.9m

Provides software solutions in Australia, New Zealand, the United States, and internationally.

Touax

Market Cap: €30.2m

Engages in the operational leasing, sale, and management of mobile standardized equipment worldwide.

MEMSCAP

Market Cap: €29.8m

Provides micro-electro-mechanical systems (MEMS) based solutions for aerospace and defense, optical communications, medical, and biomedical markets worldwide.

Adrad Holdings

Market Cap: AU$52.4m

Designs and manufactures heat transfer solutions for industrial applications in Australasia, Asia, the Middle East, North and South America, and Africa.

HPP Holdings Berhad

Market Cap: RM 143.8m

An investment holding company, provides pre-press and post-press packaging services in Malaysia, Thailand, the United States, Singapore, the Philippines, Mexico, and internationally.

Borgosesia

Market Cap: €28.7m

Primarily invests in non-performing and alternative assets.

cottaLTD

Market Cap: JP¥4.8b

Engages in manufacture and sale of confectionary food materials and food packaging materials in Japan and internationally.

SciDev

Market Cap: AU$50.4m

Provides environmental solutions focused on water intensive industries in Australia, the United States, Asia, and internationally.

Max's Group

Market Cap: ₱1.9b

Max's Group, Inc., together with its subsidiaries, establishes, operates, maintains, and franchises restaurants, coffee shops, refreshments parlors, and cocktail lounges in the Philippines and internationally.

Oasis Home Holding Berhad

Market Cap: RM 137.5m

An investment holding company, provides consumer lifestyle products in Malaysia, Singapore, and internationally.

Mitchell Services

Market Cap: AU$49.7m

Provides exploration, and mine site and geotechnical drilling services to the exploration, mining, and energy industries in Australia.

Pyxis Tankers

Market Cap: US$32.1m

Operates as a maritime transportation company with a focus on the tanker and dry-bulk sectors in the United States and internationally.

nForce Secure

Market Cap: ฿1.0b

Engages in the sale of computer hardware and software, all related equipment, and network communication equipment and software in Thailand.

Dusk Group

Market Cap: AU$48.3m

Dusk Group Limited retails scented and unscented candles, home decor, home fragrances, and gift solutions in Australia.

Robit Oyj

Market Cap: €27.3m

Engages in the design, manufacture, and sale of drilling consumables for mining, quarrying, construction, and well drilling industries in Finland.

Desarrollos Especiales de Sistemas de Anclaje

Market Cap: €27.2m

Desarrollos Especiales de Sistemas de Anclaje, S.A.

DigiTouch

Market Cap: €26.8m

Provides digital marketing and transformation services in Italy.

Herbs Generation Group Holdings

Market Cap: HK$233.3m

Engages in the development, marketing, and sale of health supplements, cosmetics, and skincare products in Hong Kong.

Decibel Cannabis

Market Cap: CA$40.4m

An integrated cannabis company, engages in the cannabis cultivation in Canada.