Global Materials Potentially Undervalued Small Caps

Rock Tech Lithium

Market Cap: CA$91.2m

Engages in the exploration and development of lithium properties.

Goldplat

Market Cap: UK£33.9m

Operates as a mining services company in South Africa and Ghana.

Isamu Paint

Market Cap: JP¥6.6b

Manufactures and sells paints, solvents, and building materials in Japan.

Mycron Steel Berhad

Market Cap: RM 78.5m

An investment holding company, manufactures, trades in, and sells mid-stream steel cold rolled coils and steel tubes in Malaysia.

AnnAik

Market Cap: S$18.5m

An investment holding company, manufactures and distributes stainless steel products in Singapore, Malaysia, the People’s Republic of China, Indonesia, Australia, China, New Zealand, and internationally.

VNSTEEL-VICASA

Market Cap: ₫97.8b

Engages in the production and sale of iron, steel, and cast iron products in Vietnam.

Nippon Pigment Holdings

Market Cap: JP¥8.9b

Manufactures and sells liquid dispersion products, colorants, and resin compounds in Japan and internationally.

Quimpac

Market Cap: S/190.6m

Engages in the production and commercialization of chemical products Peru and internationally.

Showa Chemical Industry

Market Cap: JP¥5.4b

Engages in manufacturing and selling diatomite and perlite filter aids under the Radiolite and Topco brand in China and Japan.

Interpipe Novomoskovsk Pipe Production Plant

Market Cap: ₴100.0m

Manufactures steel electric-welded pipes.

China Health Technology Group Holding

Market Cap: HK$29.3m

An investment holding company, engages in the forestry management business in the People’s Republic of China.

Paper Converting

Market Cap: MU₨105.0m

Engages in the manufacture and sale of tissue and toilet papers in Mauritius and internationally.

Ninh Binh Phosphate Fertilizer

Market Cap: ₫1.0t

Produces and sells phosphate fertilizers primarily in Vietnam.

SINAR TERANG MANDIRI

Market Cap: Rp890.4b

Engages in the mining activities in Indonesia.

Dynemic Products

Market Cap: ₹2.9b

Engages in the manufacture and sale of dyes and dye intermediates in India.

A-Rank Berhad

Market Cap: RM 71.5m

An investment holding company, manufactures and markets aluminium billets in Malaysia.

SMVD Poly Pack

Market Cap: ₹139.9m

Manufactures and markets flexible intermediate bulk containers (FIBC) packaging products primarily in India.

Song Da Industry Trade

Market Cap: ₫60.2b

Produces and sells packaging products in Vietnam.

Viglacera Ha Long

Market Cap: ₫312.5b

Produces construction materials from clay in Vietnam.

DS Sigma Holdings Berhad

Market Cap: RM 120.0m

An investment holding company, engages in manufacturing, supplying, and trading of packaging materials and paper products in Malaysia.

Hanoi Plastics

Market Cap: ₫1.1t

Engages in the manufacturing, selling, trading, and export of industrial engineering plastic products for industrial and civil industries.

DIN Capital Investment Group

Market Cap: ₫178.2b

Manufactures and trades in commercial concrete in Vietnam.

Panjawattana Plastic

Market Cap: ฿1.2b

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

Subur Tiasa Holdings Berhad

Market Cap: RM 148.9m

An investment holding company, engages in the extraction and sale of logs in Malaysia, India, Japan, South Korea, Taiwan, and internationally.

SPEL

Market Cap: PK₨10.1b

Engages in the manufacture and sale of plastic packaging and plastic parts for the food and FMCG, and automotive industries in Pakistan, Hungary, Turkey, Belgium, France, Italy, the United Kingdom, the United States, Taiwan, and China.

PMC Label Materials

Market Cap: ฿378.2m

Manufactures and distributes self-adhesive labels in Thailand and internationally.

Selic Corp

Market Cap: ฿1.8b

Together with other subsidiaries, engages in the production and distribution of adhesives in Thailand.

Argha Karya Prima Industry

Market Cap: Rp306.1b

Produces and distributes flexible packaging films in Indonesia, the rest of Asia, America, Europe, Africa, the Middle East, Australia, and New Zealand.

Takasago Tekko K.K

Market Cap: JP¥3.7b

Manufactures and sells various steel products developed primarily from stainless steel in Japan.

CZR Resources

Market Cap: AU$50.3m

Operates as a mineral exploration and development company in Australia.

IVP

Market Cap: ₹1.7b

Engages in the manufacture and distributes chemicals in India.

TMP Steel

Market Cap: NT$1.7b

Together with its subsidiary, manufactures and sells iron and steel building materials in Taiwan.

Vitreous Glass

Market Cap: CA$40.4m

Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Canada.

Atico Mining

Market Cap: CA$36.3m

Engages in the exploration, development, extraction, and processing of copper and gold projects in Latin America.

5E Advanced Materials

Market Cap: US$54.4m

An exploration stage company, engages in the exploration and development of mineral properties primarily in the United States.

Mauritius Chemical and Fertilizer Industry

Market Cap: MU₨110.0m

Engages in manufacturing and sale of NPK complex fertilizers in Mauritius, Madagascar, and other African countries.