Kretam – market had priced the improved ROE

[i4value]

A decade ago, Kretam ROE underperformed those of my 2 reference Bursa plantation companies – Bplant and KLK. 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. 



I think that the market had priced in the improvements. What do you think?