Malawian Software Defensive Blue Chips

Orkla

Market Cap: NOK 115.5b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

JCET Group

Market Cap: CN¥81.4b

Provides integrated-circuit manufacturing and technology services in China and internationally.

Harel Insurance Investments & Financial Services

Market Cap: ₪37.1b

Offers insurance and financial services in Israel, Europe, and internationally.

Globus Medical

Market Cap: US$11.8b

Develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Italgas

Market Cap: €10.3b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

Suncorp Group

Market Cap: AU$16.7b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

Apollo Hospitals Enterprise

Market Cap: ₹1.1t

Provides healthcare services in India.

Celsius Holdings

Market Cap: US$11.7b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

MTN Nigeria Communications

Market Cap: ₦16.3t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

China Zheshang Bank

Market Cap: HK$91.6b

Provides various commercial banking products and services in Mainland China.

Phison Electronics

Market Cap: NT$374.6b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Hong Leong Bank Berhad

Market Cap: RM 45.9b

Operates as a financial services company in Malaysia and internationally.

Great Eastern Holdings

Market Cap: S$14.9b

An investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia.

Tata Consumer Products

Market Cap: ₹1.1t

Produces, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Technoprobe

Market Cap: €10.1b

Produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

James Hardie Industries

Market Cap: AU$16.4b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Almarai

Market Cap: ر.س43.0b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Absa Group

Market Cap: R192.3b

Provides retail, business, corporate, investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Jinko Solar

Market Cap: CN¥78.9b

Engages in the research, development, manufacturing, and sale of photovoltaic products and clean energy solutions in China, Europe, America, the Asia Pacific, and internationally.

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥78.8b

Researches and develops, produces, and sells integrated circuit equipment and high-frequency communication materials in China and internationally.

Manila Electric

Market Cap: ₱681.9b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Sanlam

Market Cap: R191.8b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

Ambuja Cements

Market Cap: ₹1.1t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

Universal Health Services

Market Cap: US$11.4b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities in the United States.

Ooredoo Q.P.S.C

Market Cap: ر.ق41.3b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

King Yuan Electronics

Market Cap: NT$361.3b

Engages in the designing, manufacturing, selling, testing, and assembly service of integrated circuits.

Taiwan Cooperative Financial Holding

Market Cap: NT$360.7b

Provides commercial banking, insurance, securities, bills finance, venture capital, asset management, and investment trust services in Taiwan.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥77.6b

Engages in the generation and sale of electricity in China.

Jiangsu Yanghe Distillery

Market Cap: CN¥77.2b

Offers liquors and wines.

Brown-Forman

Market Cap: US$11.2b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

T&D Holdings

Market Cap: JP¥1.8t

Through its subsidiaries, provides insurance products and services in Japan.

Hippo Valley Estates

Market Cap: US$1.4b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Suzhou Centec Communications

Market Cap: CN¥76.7b

Engages in the research and development of ethernet switch chips and supporting products in China and internationally.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥76.6b

Engages in the clean energy business in China.

Webster Financial

Market Cap: US$11.1b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Globe Life

Market Cap: US$11.1b

Through its subsidiaries, provides various life and supplemental health insurance products to lower middle- and middle-income families in the United States.