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Nawaplastic purchased a 17% stake in BMP in March and reportedly wants to up the stake to 49% (the maximum foreign ownership limit), implying further upside for the stock. Nawaplastic is the leading PVC pipe maker in Thailand, and now targets market leadership in Vietnam. In addition to its stake in southern plastic pipe maker BMP, it also owns 23% of northern producer NTP while its parent company owns 70% of a plant which produces 15% of Vietnam’s plastic resin.
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