Global Utilities Low Leverage High Rewards

Ping Ho Environmental Technology

Market Cap: NT$1.7b

Ping Ho Environmental Technology Co., Ltd.

HIROSHIMA GASLtd

Market Cap: JP¥26.3b

Engages in the gas business in Japan.

Kenya Electricity Generating

Market Cap: KSh49.1b

Operates as an electric power generating company in Kenya.

VERBUND

Market Cap: €22.4b

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.

Kunlun Energy

Market Cap: HK$67.0b

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.

Southern Hydropower

Market Cap: ₫3.7t

Engages in the construction, production, installation, and operation of hydropower plants in Vietnam.

Hydro Power - Power No. 3

Market Cap: ₫537.7b

Hydro Power Joint Stock Company - Power No.

Gas Malaysia Berhad

Market Cap: RM 5.6b

Sells, markets, and distributes natural gas to the industrial, commercial, and residential sectors in Malaysia.

Xinjiang East Universe GasLtd

Market Cap: CN¥4.3b

Engages in the natural gas sales, natural gas facility equipment installation, and natural gas heating businesses.

Indraprastha Gas

Market Cap: ₹285.7b

Engages in the distribution and sale of natural gas in India.

United Power Generation & Distribution

Market Cap: ৳79.5b

United Power Generation & Distribution Company Ltd.

Copperbelt Energy

Market Cap: K39.5b

Engages in the generation, distribution, transmission, sale, and trade of electricity to mining customers in Zambia and the Democratic Republic of Congo (DRC).

Palestine Electric Company P.L.C

Market Cap: US$170.4m

Palestine Electric Company P.L.C, through its subsidiary, Gaza Power Generating Company, engages in the generation and sale of electricity in the Gaza Strip, Palestine.

CK Infrastructure Holdings

Market Cap: HK$135.1b

An infrastructure company, invests in, develops, and operates infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States.

SPC Power

Market Cap: ₱12.6b

Generates, distributes, and sells electricity in the Philippines.

Vidullanka

Market Cap: LK₨15.0b

Engages renewable energy power generation business in Sri Lanka and Uganda.

Great Taipei Gas

Market Cap: NT$15.1b

Supplies natural gas in Taiwan.

China Resources Gas Group

Market Cap: HK$46.3b

An investment holding company, engages in the sale of natural and liquefied gas and connection of gas pipelines.

Qatar Electricity & Water Company Q.P.S.C

Market Cap: ر.ق18.3b

Invests in, develops, owns, and operates plants to produce electricity and desalinated water in Qatar and internationally.

Energía Latina

Market Cap: CL$42.9b

Engages in the generation and sale of electricity in Chile.

Luenmei QuantumLtd

Market Cap: CN¥14.4b

Engages in the generation and supply of heat, power, and steam in China.

Hokuriku GasLtd

Market Cap: JP¥17.5b

Operates gas business in Japan.

Zimmite Taiwan

Market Cap: NT$1.8b

Engages in the industrial water treatment activities in Taiwan and China.

Vivant

Market Cap: ₱19.1b

Through its subsidiaries, generates, distributes, and retails electric power in the Philippines.

Song Ba

Market Cap: ₫1.8t

Invests in the construction of hydropower projects in Vietnam.

Perusahaan Gas Negara

Market Cap: Rp40.2t

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

Mega First Corporation Berhad

Market Cap: RM 3.4b

Engages in renewable energy, resources, and packaging businesses in Malaysia, Lao PDR, other ASEAN countries, Papua New Guinea, India, Bangladesh, Australia, New Zealand, and internationally.

Seoul City Gas

Market Cap: ₩238.7b

Supplies natural gas in South Korea.

Taiwan Cogeneration

Market Cap: NT$34.3b

Engages in the operation and management of cogeneration plants in Taiwan.