KUALA LUMPUR: The mergers and acquisitions( MA) in the plantations sector are expected to continue, underpinned by the high crude palm oil prices and undervaluation of small and mid( SMID) caps.... " The SMID caps that we observe trade at implied unadjusted EV/ ha of just MYR17, 000-38, 000, which are at or below replacement costs.... 60% of KL Plantation Index members trades below 1x PBV( as at 1 Sept)," added the research house....