Under the Radar: 4 International Value Stocks Yielding Up to 10.7%

Wall Street can spend another afternoon arguing about which artificial intelligence company deserves the most heroic valuation. I am more interested in the businesses supplying the energy, materials, and transportation needed as Asia continues to grow. Some of those businesses are available at modest earnings multiples while paying substantial dividends. That gets my attention.

Australia and Singapore give us two useful places to look. Australia supplies the resources and energy needed to support industrial development across the region. Singapore provides a base for companies that finance, organize, and participate in commerce throughout Southeast Asia and beyond.

Over the next five years, expanding infrastructure, rising household incomes, and investment in technology could create meaningful opportunities for companies already serving these markets. We can participate by owning established businesses with useful assets, paying reasonable prices, and collecting dividends while the businesses develop.

Four companies worth our attention are Woodside Energy Group (WDS), Fortescue (FSUGY), Jardine Matheson Southeast Asia (JCYCF), and Hafnia Limited (HAFN). These are different businesses with different earnings cycles. Together, they provide an interesting look at investment opportunities available beyond the usual American technology names.

Why Australia and Singapore Deserve Our Attention

Singapore’s recent economic performance offers a glimpse of the opportunity. According to advance estimates, its economy grew 5.4% from a year earlier in the third quarter of 2026, with electronics and precision engineering helping support manufacturing growth.

I would not project that pace indefinitely. The attraction is Singapore’s ability to participate in economic activity throughout the region. A company based there can earn money from customers and investments in Indonesia, Vietnam, India, or China.

Australia has a different advantage. Developing economies need energy and industrial materials, while new computing facilities add another source of demand for electricity and infrastructure. Existing businesses can also use artificial intelligence and automation to improve productivity.

We should be disciplined about those connections. A data center creates a direct need for electricity, while its effect on an iron ore producer is considerably more indirect. Regional growth will help some products more than others.

Fortunately, we do not need every industry to prosper equally. We need individual companies whose assets, earnings, and purchase prices make sense.

Woodside Energy Group (NYSE:WDS): Energy Demand, Growth Projects, and a 5.2% Yield

Woodside Energy Group is an Australian oil and natural gas producer with operations and development projects extending well beyond Australia. Its products include liquefied natural gas, pipeline gas, crude oil, and condensate.

Liquefied natural gas, or LNG, is natural gas cooled into liquid form for transportation by ship. That allows buyers without convenient pipeline access to obtain fuel for power generation and industrial use. It also makes Woodside an interesting participant in Asia’s economic growth.

More industrial activity creates energy demand, while investment in computing adds to the need for dependable electricity. Natural gas can help meet that demand in markets with the necessary import terminals and power plants.

Woodside also has identifiable development projects that could expand its business during our five-year investment window. Its September-quarter report put Scarborough at 99% completion, with the company targeting its first LNG cargo before the end of 2026. Trion, an offshore Mexican oil development, targets first oil in 2028, while Louisiana LNG targets first production in 2029.

Those dates give investors something concrete to monitor. Successful completion would move these projects toward generating revenue after years of development spending.

At its November 3 closing price of $22.36, Woodside traded at approximately 14 times reported trailing earnings and 11.5 times estimated forward earnings. Its last two declared dividends were $0.59 and $0.57 per share, totaling $1.16. That represents a historical yield of approximately 5.2% at that price.

I like the combination of existing operations, visible development projects, and meaningful income. Investors are paying a considerably less demanding multiple than those frequently attached to fashionable growth stories.

Of course, execution still matters. Large energy projects require substantial capital, and weaker oil or LNG prices would affect earnings and dividends. Additional global LNG capacity could also put pressure on pricing.

My positive case rests on Woodside completing its projects economically and selling useful energy into a growing customer base. That is a business proposition I can understand without a 70-page presentation explaining why profits can wait until the next decade.

Fortescue (OTC:FSUGY): An Iron Ore Giant Offering a Historical Yield Above 7%

Fortescue is one of Australia’s major iron ore producers. Its Pilbara operations include mines, processing facilities, and the rail and port infrastructure needed to move ore to customers.

Steel begins with raw materials. Roads, industrial facilities, transportation systems, and other infrastructure create demand for steel, giving Fortescue a connection to the region’s physical development.

The company already operates at considerable scale. In fiscal 2026, Fortescue shipped a record 201.3 million tonnes of iron ore, generated approximately $3.5 billion in underlying net profit and $3.2 billion in free cash flow, and declared A$1.08 per ordinary share in dividends.

Fortescue’s U.S. depositary receipt recently traded around $20. A November 2 market-data snapshot showed the shares trading at approximately 10.6 times trailing earnings, with a historical dividend yield of roughly 7.2%.

That certainly gets my attention. However, forward earnings estimates implied a higher multiple of approximately 17 times earnings, telling us analysts were expecting softer profits. A low trailing price-to-earnings ratio on a commodity producer can reflect earnings that investors expect to decline.

Fortescue’s appeal comes from its established operating infrastructure and ability to generate cash through the commodity cycle. Management is also applying artificial intelligence across activities including drilling, processing, rail operations, and haulage. Better maintenance and equipment utilization could improve the economics of an enormous existing asset base.

I find that application of technology particularly interesting. A small efficiency improvement repeated across millions of tonnes can be worth real money. That is a more practical use of AI than attaching the term to an investor presentation and hoping somebody awards the stock a higher multiple.

China remains central to Fortescue’s business. The company’s latest quarterly report warned that operations could be affected if negotiations with China Mineral Resources Group were not concluded by year-end. Net debt also increased to $2.8 billion at the end of September, following dividend payments and investment spending.

Those are not details we can ignore. Iron ore pricing, customer negotiations, and capital expenditures will influence future earnings and dividends.

Fortescue is the more cyclical income opportunity of this group. The attractive entry point comes from buying a substantial operating franchise when investors are already worried about those issues, provided the business retains its earning power.

Jardine Matheson Southeast Asia (OTC:JCYCF): A Diversified Regional Business Trading Below 8 Times Earnings

Jardine Matheson Southeast Asia gives us a company whose name has recently changed. It was formerly known as Jardine Cycle & Carriage, and the new name better describes the investment.

This Singapore-listed holding company owns interests in businesses serving Southeast Asian economies, particularly Indonesia and Vietnam. Its largest investment is a 50.1% interest in Astra International, whose operations include automotive businesses, financial services, heavy equipment, and mining-related activities. Jardine’s Vietnamese investments include THACO and REE.

Think about what happens as households earn more and businesses invest. Consumers purchase vehicles and use financing, while companies need equipment, logistics, and infrastructure. Jardine owns interests in businesses participating in those transactions, giving us a broad connection to economic development rather than dependence on a single fashionable product.

The valuation is especially interesting. At its November 3 quoted U.S. price of $16.99, market data showed Jardine trading at approximately 6.7 times trailing earnings and 7.8 times estimated forward earnings. The $1.13 ordinary annual dividend reference translates into a historical yield of approximately 6.7%.

The company has also arranged a separate special distribution involving cash and Toyota shares. I exclude that distribution from the recurring income case. A distribution of assets represents a return of value, but the share price can adjust to reflect those assets leaving the company.

Recent operating performance has been uneven. First-half underlying profit declined 11% to $473 million. More encouragingly, Astra’s nine-month update showed automotive earnings growing 8% and financial-services earnings increasing 6%, while mining solutions and heavy equipment were weaker.

That is the kind of uneven operating picture that can create opportunities for patient investors. Several useful businesses can improve at different points in the economic cycle.

The holding-company structure deserves a valuation discount because of its complexity and the costs associated with owning businesses indirectly. But it also gives investors access to a collection of operating companies that would be difficult for most U.S. retail investors to assemble individually.

My enthusiasm comes from the combination of regional exposure, established franchises, and a low earnings multiple. If the underlying businesses improve while the valuation remains reasonable, shareholders could have an attractive opportunity.

Hafnia Limited (NYSE:HAFN): A Global Shipping Business With a 10.7% Historical Yield

Hafnia brings us to the ships moving fuel between refineries and customers around the world. The company operates product and chemical tankers that transport refined fuels such as gasoline, diesel, and jet fuel, along with chemicals used by industrial customers. Its Singapore base fits neatly with our interest in businesses supporting Asian commerce.

Consider what expanding regional trade involves. Factories need fuel, trucks move goods, and airlines connect growing cities. Refineries and customers are often separated by thousands of miles of ocean, creating demand for the transportation services Hafnia provides.

The opportunity depends on cargo volumes, voyage distances, and the supply of available ships. Longer voyages can occupy vessels for more days, supporting demand for transportation even when the volume of fuel being shipped changes very little.

Recent earnings demonstrate how profitable this business can become. Hafnia reported second-quarter net profit of $277.8 million, including $39.3 million in vessel-sale gains. Its average daily time-charter-equivalent earnings reached $44,093, a measure of shipping revenue after voyage expenses.

The company declared a quarterly dividend of $0.5003 per share. Its last four declared quarterly payments totaled approximately $1.11 per share. Against the November 3 closing price of $10.40, that represents a historical dividend yield of approximately 10.7%.

That is enough income to make me put down the television remote.

Recent market data also placed the shares at roughly seven to eight times trailing earnings. I find that earnings valuation appealing for an established shipping business, although it needs to be judged against sustainable freight rates.

Hafnia’s dividend policy links distributions to profits and balance-sheet leverage. Strong operating conditions can therefore translate into substantial cash payments to shareholders, but the payout will move with the business.

Second-quarter earnings benefited from disrupted trade routes, and rates booked for the following quarter were lower. I would use the actual dividend history as my starting point rather than multiply one unusually strong quarter by four and assume the result will continue indefinitely.

Shipping is a cyclical business. Freight rates can move sharply as vessel supply, trade patterns, and customer demand change. A high historical yield is not a promise that future payments will remain at the same level.

My positive case is that expanding Asian commerce creates continuing demand for the transportation Hafnia provides. Its operating platform gives investors a way to participate in that trade while receiving a meaningful share of the profits. Sensible fleet investment and financial discipline will determine how much of that opportunity reaches shareholders.

4 Different Ways to Invest in Asia’s Growth

These four companies offer different ways to participate in the same broad development: increasing economic activity across Asia.

Woodside Energy Group (WDS) supplies the oil and natural gas needed for power generation and industrial activity, with several major projects approaching important development milestones. Fortescue (FSUGY) supplies iron ore used in steel production and infrastructure development, while working to improve the efficiency of its existing operations.

Jardine Matheson Southeast Asia (JCYCF) owns interests in businesses serving households and industry across growing Southeast Asian economies. Hafnia Limited (HAFN) transports the refined fuels and chemicals that keep commerce moving.

The businesses are different, and so are their risks. Woodside depends on energy prices and successful project execution. Fortescue is exposed to iron ore prices, Chinese demand, and customer negotiations. Jardine’s results depend on the performance of its underlying businesses and the economies they serve, while Hafnia’s profitability and dividends fluctuate with shipping markets.

But all four share characteristics I like. They own or operate useful assets, serve established markets with continuing demand, and trade at valuations considerably more modest than those of many popular growth companies.

The historical dividend yields are also substantial. At the prices and dividend references discussed above, they range from approximately 5.2% at Woodside to 10.7% at Hafnia.

Those are historical figures, not guaranteed future income. Payments will vary with earnings, currencies, and company decisions. U.S. investors should also account for depositary fees where applicable and use limit orders when purchasing thinly traded OTC securities.

A bargain becomes less attractive when you give away part of the discount through an unnecessarily wide trading spread.

Buy Useful Businesses at Sensible Prices

The appeal of these four companies is straightforward. We can look for growth in established businesses while insisting on a sensible purchase price and receiving cash along the way.

That does not require every economy in Asia to grow at the same rate. It does not require commodity prices to rise forever. And it certainly does not require investors to assign extraordinary valuations to businesses simply because somebody mentioned artificial intelligence.

We need companies that can operate profitably, manage their balance sheets, invest wisely, and return capital to shareholders. Then we need to buy them at prices that leave room for an attractive return.

Woodside, Fortescue, Jardine Matheson Southeast Asia, and Hafnia give us four opportunities worth investigating.

I am happy to let someone else win the argument about the most exciting stock on television. I would rather own useful businesses at prices that give their shareholders room to make money.