Global Utilities Low Leverage High Rewards

Taliworks Corporation Berhad

Market Cap: RM 1.0b

An investment holding company, operates, manages, and maintains water treatment plants in Malaysia.

PTC India

Market Cap: ₹45.7b

Engages in the trading and generating of power in India, Nepal, Bhutan, and Bangladesh.

Enel Generación Chile

Market Cap: CL$4.1t

Engages in the generation, transmission, and distribution of energy in Chile.

Hub Power

Market Cap: PK₨286.1b

Engages in the development, ownership, operation, and maintenance of power stations in Pakistan.

Shin Hai Gas

Market Cap: NT$8.9b

Engages in the supply of natural gas in Taiwan.

ToellLtd

Market Cap: JP¥15.7b

Engages in the energy and water businesses in Japan.

GAIL (India)

Market Cap: ₹1.1t

Operates as a natural gas processing and distribution company in India and internationally.

Lechwerke

Market Cap: €2.5b

Operates as an energy supplier in Germany.

Kenya Electricity Generating

Market Cap: KSh59.9b

Operates as an electric power generating company in Kenya.

Indraprastha Gas

Market Cap: ₹271.5b

Distributes and sells natural gas in India.

BKW

Market Cap: CHF 8.9b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

United Power Generation & Distribution

Market Cap: ৳67.5b

United Power Generation & Distribution Company Ltd.

Électricite de Strasbourg Société Anonyme

Market Cap: €1.3b

Engages in the supply of electricity and natural gas to individuals, businesses, and local authorities in France.

Energía Latina

Market Cap: CL$41.4b

Engages in the generation and sale of electricity in Chile.

Jiangsu Jiangnan Water

Market Cap: CN¥5.3b

Supplies water in China.

Perusahaan Gas Negara

Market Cap: Rp45.1t

Engages in the transmission and distribution of natural gas in Indonesia.

SamchullyLtd

Market Cap: ₩445.1b

Engages in the supplying of natural gas in South Korea and the United States.

Osaka Gas

Market Cap: JP¥2.1t

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

Sichuan Chuantou EnergyLtd

Market Cap: CN¥69.9b

Engages in the clean energy business in China.

Inner Mongolia MengDian HuaNeng Thermal Power

Market Cap: CN¥30.5b

Engages in thermal power generation and heating businesses in China.

Transnational Corporation of Nigeria

Market Cap: ₦416.6b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Xinjiang Torch Gas

Market Cap: CN¥3.2b

Operates as a gas service company in China.

Nuoc Trong Hydro - Power

Market Cap: ₫624.4b

Engages in the production, transmission, and distribution of hydro-electricity in Vietnam.

Tianjin Development Holdings

Market Cap: HK$2.6b

Through its subsidiaries, supplies water, heat, thermal power, and electricity to industrial, commercial, and residential customers in the People’s Republic of China.

Kyungdong City Gas

Market Cap: ₩129.0b

Engages in the manufacture and supply of liquefied natural gas through a network of pipelines.

Shizuoka Gas

Market Cap: JP¥91.2b

Produces, supplies, and sells city gas in Japan.

Minera Valparaiso

Market Cap: CL$1.8t

An investment company, engages in the generation and sale of electric power.

Distribuidora de Gas Cuyana

Market Cap: AR$436.1b

Engages in the distribution of natural gas in Argentina.

Burgenland Holding

Market Cap: €220.5m

Through its investment in Burgenland Energie AG, engages in the generation and sale of electricity in Austria.

Zhejiang Xinzhonggang Thermal Power

Market Cap: CN¥3.5b

Zhejiang Xinzhonggang Thermal Power Co., LTD.

Guangdong Investment

Market Cap: HK$45.3b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

Mien Trung Power Investment and Development

Market Cap: ₫1.5t

Engages in the generating and trading electricity in Vietnam.

VERBUND

Market Cap: €21.6b

Generates, trades in, and sells electricity to energy exchange markets, traders, electric utilities and industrial companies, and household and commercial customers in Austria and internationally.

Chengdu Gas Group

Market Cap: CN¥8.8b

Engages in the urban gas supply business in China.

Ping Ho Environmental Technology

Market Cap: NT$1.4b

Ping Ho Environmental Technology Co., Ltd.

Kunlun Energy

Market Cap: HK$64.2b

An investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas in the Republic of Kazakhstan, the Sultanate of Oman, and the Kingdom of Thailand.