Global Potentially Undervalued Small Caps

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.

Himeji RikaLtd

Market Cap: JP¥6.1b

Produces and supplies quartz glass products for semiconductors, liquid crystal, and optical fibers in Japan.

Thien Nam Trading - Import Export

Market Cap: ₫185.6b

Operates in the iron and steel, real estate, food distribution, electronics distribution, and education investment businesses in Vietnam.

Banat Estival 2002 SA Olimp

Market Cap: RON 623.3k

Provides accommodation services in hotels and other similar facilities.

Novus Group International

Market Cap: SEK 35.1m

Novus Group International AB operates as an analysis and survey company in Sweden.

Muehlhan

Market Cap: €31.9m

Provides surface protection and industrial services worldwide.

Sino Agro Food

Market Cap: US$18.1k

Sino Agro Food, Inc. operates as an agriculture technology and natural food holding company in the People Republic of China.

International Medical Center of Biomaterials Processing and Cryostorage

Market Cap: ₽1.0b

International Medical Center of Biomaterials Processing and Cryostorage Public Joint-stock company operates as a licensed bank for personal storage of cord blood stem cells and tissue of the umbilical cord in Russia and the CIS countries.

Sword-Edge Commercials

Market Cap: ₹50.0m

Does not have significant operations.

Etman International

Market Cap: NOK 87.8m

Through its subsidiaries, manufactures and sells electrical products for the professional and residential construction markets in Scandinavia.

Akumplast JSC

Market Cap: €1.1m

Engages in the production and sale of plastic accumulator boxes in Bulgaria.

Beit Jala Pharmaceutical

Market Cap: د.أ25.3m

Engages in the manufacture and sale of pharmaceutical products in the Palestinian Authority.

Andacor

Market Cap: CL$7.9b

Through its subsidiaries, operates as a tourism and ski lift services group in Chile.

Constantinou Bros Developers

Market Cap: €37.8k

Engages in the rental of the apartments of ANTHOUSA complex.

Perubar

Market Cap: S/164.9m

Provides storage and shipping services in Peru.

Nibsa

Market Cap: CL$4.7b

Develops, manufactures, and sells plumbing, bathroom fitting, and other products and solutions in Chile.

Flexidynamic Holdings Berhad

Market Cap: RM 39.0m

An investment holding company, engages in the design, engineering, installation, commissioning, and maintenance of glove chlorination systems in Malaysia, Thailand, Vietnam, Indonesia, Sri Lanka, and the United States.

Manufacturas de Cemento

Market Cap: Col$38.9b

Engages in the production and marketing of various precast concrete products in Colombia.

Thai O.P.P

Market Cap: ฿810.0m

Manufactures and distributes plastic films, stickers, laminate tubes, and packaging products in Thailand.

Inmobiliaria Central de Estacionamientos Agustinas

Market Cap: CL$5.5b

Inmobiliaria Central de Estacionamientos Agustinas S.A.

Medicure

Market Cap: CA$14.1m

A biopharmaceutical company, engages in the research, development, and commercialization of human therapies in the United States.

Mooreast Holdings

Market Cap: S$28.5m

Provides total mooring solutions in Singapore, Europe, the Asia Pacific, the Middle East, Oceania, South America, and internationally.

Ben Thanh Trading & Service

Market Cap: ₫548.8b

Engages in commercial and services trading, and financial investment activities in Vietnam.

SkinBioTherapeutics

Market Cap: UK£25.3m

A life science company, engages in research and development, and commercialization of technology that harnesses the microbiome for human health in the United Kingdom, the United States, Europe, and internationally.

Noble Polymers

Market Cap: ₹12.9m

Trades in various plastic goods in India.

Super Tannery

Market Cap: ₹778.5m

Manufactures, sells, and exports leather products in India.

Saif Textile Mills

Market Cap: PK₨808.8m

Engages in the manufacture and sale of compact cotton and synthetic yarns in Pakistan.

Lee Kee Holdings

Market Cap: HK$162.4m

An investment holding company, engages in the trading of non-ferrous metals in Hong Kong and Mainland China.

Samebest

Market Cap: NT$1.6b

Engages in the research and development of digital cloud course systems primarily in Taiwan.

Ocean Line Port Development

Market Cap: HK$264.0m

An inland terminal operator, provides port logistic services in the People’s Republic of China.

Shivam Autotech

Market Cap: ₹2.7b

Engages in the manufacture and sale of auto transmission components for original equipment manufacturers in India and internationally.

Indo Straits

Market Cap: Rp170.6b

Together with its subsidiary, provides integrated marine engineering and logistics support services primarily in Indonesia.

Song Da 5

Market Cap: ₫195.0b

Engages in the construction business in Vietnam.

United Bus Service

Market Cap: MU₨201.8m

An investment holding company, engages in the bus fleet operation and property development businesses in Mauritius.

Artra Group

Market Cap: JP¥1.6b

Provides support services for acupuncture and osteopathic clinics in Japan.

Slogan

Market Cap: JP¥2.0b

Provides human resource support services to various industries.