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From a risk-reward perspective, i believe asymmetry is positive
Most of the "bad news" (relocation costs, muted earnings) is already priced in
The Baseline Case "The Mean Reversion"
If the Ban Bueng 2 and BB3 plants reach full capacity (targeted for 2026–2028), fixed costs will diluted across higher volumes
Target RM 5.50–RM 6.80