Singaporean Software Defensive Blue Chips

iA Financial

Market Cap: CA$18.3b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Tongfu MicroelectronicsLtd

Market Cap: CN¥88.0b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Israel Discount Bank

Market Cap: ₪39.2b

Provides various banking and financial services in Israel, Europe, and North America.

MTN Nigeria Communications

Market Cap: ₦17.7t

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

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥87.8b

Henan Shuanghui Investment & Development Co.,Ltd.

Eastroc Beverage (Group)

Market Cap: CN¥87.7b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥87.7b

Engages in the generation and sale of electricity in China.

Carrefour

Market Cap: €11.2b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

Shenzhen Techwinsemi Technology

Market Cap: CN¥87.6b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

Chubu Electric Power Company

Market Cap: JP¥2.0t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

Taiwan Cooperative Financial Holding

Market Cap: NT$417.1b

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

HKT Trust and HKT

Market Cap: HK$101.1b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

GlobalWafers

Market Cap: NT$416.9b

Researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally.

Uni-President Enterprises

Market Cap: NT$415.9b

Engages in the manufacture and sale of beverages and instant noodles in Taiwan, China, and Southeast Asia.

Almarai

Market Cap: ر.س48.2b

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

KT&G

Market Cap: ₩18.3t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Osaka Gas

Market Cap: JP¥2.0t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Erie Indemnity

Market Cap: US$12.8b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Penumbra

Market Cap: US$12.8b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Etihad Etisalat

Market Cap: ر.س47.9b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

J. M. Smucker

Market Cap: US$12.7b

Manufactures and markets branded food and beverage products worldwide.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Fresenius Medical Care

Market Cap: €11.0b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Webster Financial

Market Cap: US$12.6b

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.

Phison Electronics

Market Cap: NT$407.9b

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

Jerónimo Martins SGPS

Market Cap: €10.9b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Kokusai Electric

Market Cap: JP¥2.0t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

Smith & Nephew

Market Cap: UK£9.3b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

China Resources Power Holdings

Market Cap: HK$98.1b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

National Silicon Industry Group

Market Cap: CN¥84.3b

National Silicon Industry Group Co., Ltd.

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Align Technology

Market Cap: US$12.4b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

First Horizon

Market Cap: US$12.4b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

BJ's Wholesale Club Holdings

Market Cap: US$12.3b

Operates membership warehouse clubs on the eastern half of the United States.

Coca-Cola Consolidated

Market Cap: US$12.3b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.