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classic post-PN17 turnaround re-rating play. PN17 exit validated, TNB contract win as blue-chip endorsement, earnings turning, order book + tender book providing forward visibility, multi-segment business with healthcare optionality.
the next milestone watching is potential FBM Small Cap Index re-inclusion. Index re-inclusion brings passive fund flows (ETFs, index trackers must buy), often providing a structural price floor and improved liquidity.
