A decade ago, Kretam ROE underperformed those of my 2 reference Bursa plantation companies – Bplant and KLK. https://www.i4value.asia/2021/08/how-malaysian-plantation-sector.html#more

But over the past 2 years, Kretam had caught up with them and even surpassed that of BPlant. But I was dissuaded from digging further into Kretam when I found the following ROE vs price trend. https://i.postimg.cc/DyWybKnR/Kretam.png
I think that the market had priced in the improvements. What do you think?