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BMP - FOL removal provides catalyst after recent share price decline - Company Report

Binh Minh Plastic (BMP) is expected to receive approval in September to remove its foreign ownership limit (FOL), opening the prospect of a short-term share price gain. BMP’s current price is reasonable vs peers, despite its recent margin pressure. BMP’s net sales in H1 2017 only increase by +9% vs H1 2016, despite its recent increase in discount rate to 15%, offered to its distributors.