Global Utilities Potentially Undervalued Small Caps

ABO Energy GmbH KGaA

Market Cap: €33.1m

Develops renewable energy projects in Germany and internationally.

Wasco Greenergy Berhad

Market Cap: RM 205.0m

Operates biomass and steam energy plants in Bursa Malaysia.

Mordovia Energy Retail Company

Market Cap: ₽437.1m

Mordovia Energy Retail Company Public Joint-Stock Company, an energy sales company, purchases and sells electricity in the wholesale and retail markets in Russia.

Sesan4A Hydropower

Market Cap: ₫1.4t

Engages in the production and trade of electric power in Vietnam.

EF-ON

Market Cap: JP¥6.9b

Operates as an energy service company in Japan.

Jolliville Holdings

Market Cap: ₱1.1b

Engages in leasing, management services, property development, land banking, local waterworks system, business process outsourcing, and power generation businesses in the Philippines.

Saigon Machinery Spare Parts

Market Cap: ₫152.6b

Engages in generation, distribution, and trading of electricity in Vietnam.

Nuoc Trong Hydro - Power

Market Cap: ₫583.3b

Engages in the commercial electricity production business in Vietnam.

Energía de Casablanca

Market Cap: CL$3.0b

Engages in the distribution of electricity in Chile.

Positron Energy

Market Cap: ₹1.4b

Distributes and sells coal bed methane and natural gas in India and internationally.

Magadanenergo

Market Cap: ₽3.3b

Public Joint Stock Company Magadanenergo, together with its subsidiaries, engages in the generation, transmission, and distribution of electricity, gas, and steam in Russia.

Indochine Import Export Investment Industrial

Market Cap: ₫63.9b

Engages in the research, manufacture, and construction of steam boilers for supplying heat in Vietnam.

Electro Sur EsteA

Market Cap: S/117.3m

Engages in the distribution of electricity in Peru.

Can Don Hydro Power

Market Cap: ₫966.0b

Produces and trades in electricity in Vietnam.

Wise Energy

Market Cap: zł20.1m

Engages in the sale of electricity in Poland.

Hydro Power - Power No. 3

Market Cap: ₫416.1b

Hydro Power Joint Stock Company - Power No.

Ba Ria Thermal Power

Market Cap: ₫494.2b

Engages in the production and trading of electricity in Vietnam.

Umeme

Market Cap: USh102.3b

Engages in the distribution and supply of electricity in Uganda.

IDICO Urban and House Development Investment

Market Cap: ₫457.3b

Engages in the supply in electricity in Vietnam.

ENEFI Vagyonkezelo Nyrt

Market Cap: Ft1.9b

Engages in the production and sale of thermal energy in Hungary, Cyprus, and Romania.

MPC Caribbean Clean Energy

Market Cap: JA$619.7m

Together with its subsidiary, focuses on investing in renewable energy projects in Jamaica, Trinidad and Tobago, and the Caribbean and Central American region.

Energía Latina

Market Cap: CL$44.6b

Engages in the generation and sale of electricity in Chile.

Shougang Generación EléctricaA

Market Cap: S/29.2m

Engages in the generation, transmission, and distribution of electrical energy in Peru.

Kalina Power

Market Cap: AU$44.0m

Engages in the power business in Australia, Canada, and the United States.

Xinda Investment Holdings

Market Cap: HK$147.0m

Owns and operates solar power plants and public infrastructure construction business in the People’s Republic of China.

TPC Consolidated

Market Cap: AU$39.1m

Provides retail electricity and gas services to residential, commercial, and industrial customers in Australia.

Stavropolenergosbyt

Market Cap: ₽593.6m

Stavropolenergosbyt Public Joint-Stock Company supplies electricity in the Stavropol territory, Russia.

TPC Power Holding

Market Cap: ฿561.7m

Generates and distributes electricity in Thailand.

Thu Duc Water Supply

Market Cap: ₫404.6b

Supplies and trades water for consumption and production needs in Vietnam.

Eden Berhad

Market Cap: RM 80.9m

An investment holding company, operates as an independent power producer primarily in Malaysia.

Puncak Niaga Holdings Berhad

Market Cap: RM 73.8m

Provides integrated water, wastewater, and environmental solutions in Malaysia.