看了hapseng的业绩得到一些看法，这个季度业绩最大的败笔是它的property division因为亏损了55mil,最主要是loss from value adjustment of investment properties,单单那个就亏82mil,但是这些只是1 off的，如果不算这个其实property division还是赚钱的，第二少赚的原因是这个季度的tax很高，占了它的盈利的39趴，这些税务的东西啊我也搞不是很懂，但是下个季度应该就会恢复正常，重点我们要看它的operating profit, 第一，二&三是165mil,176mil,172mil,如果不要算那些one off gain那些利润，其实今年这种烂行情是还行的，对比去年的operating profit,今年的hapseng的业绩肯定烂，但是去年的今天人家的股价是6.6上下，如果依照operating profit跌31趴的情况下，股价也跟随的话，那么股价就大概在4.56上下咯！要再大跌应该是不肯能的啦！毕竟人家的cash of operating 看起来很健康，基本上来讲股价可以维持在4.5-5块之间

From a ROE perspective, the return of Hap Seng is in between that of KLK and BPant. It is better than BPlant but not as good as KLK. These are my 2 reference Bursa Plantation companies where I have detailed fundamental analysis. https://www.youtube.com/watch?v=9KhboTCMdEg
The comparative ROE trend and share price trend shows a good link. Prices are currently low relative to the ROE. If you are hunting for stocks with price-fundamental discrepancy to invest in, this is one company worth a deeper look. https://i.postimg.cc/CKnbFHHm/Hap-Seng-Plantation.png