HAP SENG CONSOLIDATED BERHAD: Growing from deep roots

Blue chips of the future

Blue chips of the future

At the beginning of the Asian financial crisis, some of the more alert equity analysts pointed to one sector likely to weather the storm – plantations. With costs mainly in local currency and revenues almost entirely in US dollars, plantation companies should have been well positioned to reap benefits where many others suffered. Provided, that is, they had not burdened themselves with foreign-currency debt, and diversified into dubious non-core businesses – as several had.

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