Major Estimate Revision • Jun 02
Consensus revenue estimates increase by 21% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from RM441.7m to RM535.4m. EPS estimate increased from RM0.079 to RM0.091 per share. Net income forecast to grow 105% next year vs 26% growth forecast for Packaging industry in Malaysia. Consensus price target of RM0.87 unchanged from last update. Share price fell 3.8% to RM0.75 over the past week. Reported Earnings • May 26
First quarter 2026 earnings released: EPS: RM0.019 (vs RM0.016 in 1Q 2025) First quarter 2026 results: EPS: RM0.019 (up from RM0.016 in 1Q 2025). Revenue: RM95.8m (down 16% from 1Q 2025). Net income: RM5.35m (up 19% from 1Q 2025). Profit margin: 5.6% (up from 4.0% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Apr 24
BP Plastics Holding Bhd., Annual General Meeting, May 25, 2026 BP Plastics Holding Bhd., Annual General Meeting, May 25, 2026, at 10:00 Singapore Standard Time. Location: opal room, level m, the katerina hotel, 8 jalan zabedah, 83000 batu pahat, johor darul takzim, Malaysia Declared Dividend • Feb 26
Final dividend of RM0.015 announced Shareholders will receive a dividend of RM0.015. Ex-date: 9th March 2026 Payment date: 26th March 2026 Dividend yield will be 3.8%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 75% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: RM0.041 (vs RM0.077 in FY 2024) Full year 2025 results: EPS: RM0.041 (down from RM0.077 in FY 2024). Revenue: RM413.7m (down 15% from FY 2024). Net income: RM11.5m (down 47% from FY 2024). Profit margin: 2.8% (down from 4.4% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Dec 17
Now 24% overvalued Over the last 90 days, the stock has fallen 9.2% to RM0.64. The fair value is estimated to be RM0.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Earnings per share has declined by 27%. Revenue is forecast to decline by 1.4% in a year. Earnings are forecast to grow by 64% in the next year. Major Estimate Revision • Dec 01
Consensus revenue estimates increase by 35%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from RM298.7m to RM402.0m. EPS estimate fell from RM0.048 to RM0.034. Net income forecast to grow 64% next year vs 19% growth forecast for Packaging industry in Malaysia. Consensus price target down from RM0.74 to RM0.63. Share price was steady at RM0.64 over the past week. Reported Earnings • Nov 25
Third quarter 2025 earnings released: EPS: RM0.006 (vs RM0.003 in 3Q 2024) Third quarter 2025 results: EPS: RM0.006 (up from RM0.003 in 3Q 2024). Revenue: RM94.6m (down 24% from 3Q 2024). Net income: RM1.55m (up 113% from 3Q 2024). Profit margin: 1.6% (up from 0.6% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Price Target Changed • Sep 27
Price target decreased by 30% to RM0.74 Down from RM1.05, the current price target is provided by 1 analyst. New target price is 5.7% above last closing price of RM0.70. Stock is down 44% over the past year. The company is forecast to post earnings per share of RM0.048 for next year compared to RM0.077 last year. Major Estimate Revision • Sep 02
Consensus revenue estimates fall by 21% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from RM476.7m to RM376.8m. EPS estimate fell from RM0.104 to RM0.10 per share. Net income forecast to grow 172% next year vs 23% growth forecast for Packaging industry in Malaysia. Consensus price target down from RM1.05 to RM0.98. Share price fell 9.5% to RM0.77 over the past week. Buy Or Sell Opportunity • Aug 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to RM0.82. The fair value is estimated to be RM1.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 246% in the next 2 years. Declared Dividend • May 31
First quarter dividend reduced to RM0.01 Dividend of RM0.01 is 33% lower than last year. Ex-date: 15th June 2025 Payment date: 26th June 2025 Dividend yield will be 5.6%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio) nor is it covered by cash flows (215% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.6% to bring the payout ratio under control. EPS is expected to grow by 39% over the next year, which is sufficient to bring the dividend into a sustainable range. Announcement • May 31
BP Plastics Holding Bhd. Announces First Interim Single-Tier Interim Dividend for the Financial Year End 31 December 2025 BP Plastics Holding Bhd. announced the First Interim Single-tier interim dividend of 1 sen per share for the Financial Year End 31 December 2025. Ex-Date: 13 Jun 2025 and Entitlement date 16 June 2025. Reported Earnings • May 30
First quarter 2025 earnings released: EPS: RM0.016 (vs RM0.027 in 1Q 2024) First quarter 2025 results: EPS: RM0.016 (down from RM0.027 in 1Q 2024). Revenue: RM113.8m (down 8.4% from 1Q 2024). Net income: RM4.49m (down 41% from 1Q 2024). Profit margin: 4.0% (down from 6.1% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Packaging industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • May 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to RM1.01. The fair value is estimated to be RM1.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 17%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 84% in the next 2 years. Announcement • Apr 29
BP Plastics Holding Bhd., Annual General Meeting, May 29, 2025 BP Plastics Holding Bhd., Annual General Meeting, May 29, 2025, at 10:00 Singapore Standard Time. Location: diamond room, level 2, the katerina hotel, 8 jalan zabedah, 83000 batu pahat, johor darul takzim, Malaysia Buy Or Sell Opportunity • Apr 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to RM0.99. The fair value is estimated to be RM1.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 17%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 84% in the next 2 years. Declared Dividend • Feb 27
Fourth quarter dividend of RM0.015 announced Dividend of RM0.015 is the same as last year. Ex-date: 13th March 2025 Payment date: 28th March 2025 Dividend yield will be 5.2%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 65% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Feb 26
Price target decreased by 14% to RM1.22 Down from RM1.42, the current price target is an average from 2 analysts. New target price is 5.2% above last closing price of RM1.16. Stock is down 10% over the past year. The company is forecast to post earnings per share of RM0.12 for next year compared to RM0.077 last year. New Risk • Feb 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.4% Last year net profit margin: 7.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.4% net profit margin). Market cap is less than US$100m (RM329.3m market cap, or US$74.4m). Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: RM0.077 (vs RM0.13 in FY 2023) Full year 2024 results: EPS: RM0.077 (down from RM0.13 in FY 2023). Revenue: RM487.7m (up 3.9% from FY 2023). Net income: RM21.6m (down 39% from FY 2023). Profit margin: 4.4% (down from 7.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Packaging industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Nov 29
BP Plastics Holding Bhd. Announces Single-Tier Third Interim Dividend for the Fiscal Year Ending 31 December 2024, Payable on 27 December 2024 BP Plastics Holding Bhd. announced single-tier third interim dividend of 1.5 sen per share for the fiscal year ending 31 December 2024. Ex-date is 12 December 2024. Payment date is 27 December 2024. Entitlement date is 13 December 2024. Declared Dividend • Nov 28
Third quarter dividend of RM0.015 announced Dividend of RM0.015 is the same as last year. Ex-date: 12th December 2024 Payment date: 27th December 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 27
Third quarter 2024 earnings released: EPS: RM0.003 (vs RM0.026 in 3Q 2023) Third quarter 2024 results: EPS: RM0.003 (down from RM0.026 in 3Q 2023). Revenue: RM125.0m (up 6.6% from 3Q 2023). Net income: RM728.0k (down 90% from 3Q 2023). Profit margin: 0.6% (down from 6.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Packaging industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 12% per year. Upcoming Dividend • Sep 12
Upcoming dividend of RM0.015 per share Eligible shareholders must have bought the stock before 19 September 2024. Payment date: 11 October 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Malaysian dividend payers (4.7%). Higher than average of industry peers (3.0%). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: RM0.031 (vs RM0.035 in 2Q 2023) Second quarter 2024 results: EPS: RM0.031 (down from RM0.035 in 2Q 2023). Revenue: RM120.9m (up 9.8% from 2Q 2023). Net income: RM8.59m (down 13% from 2Q 2023). Profit margin: 7.1% (down from 8.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 14
Upcoming dividend of RM0.015 per share Eligible shareholders must have bought the stock before 21 June 2024. Payment date: 12 July 2024. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Malaysian dividend payers (4.4%). Higher than average of industry peers (2.5%). Price Target Changed • Jun 13
Price target increased by 8.0% to RM1.54 Up from RM1.42, the current price target is an average from 3 analysts. New target price is 8.2% above last closing price of RM1.42. Stock is up 18% over the past year. The company is forecast to post earnings per share of RM0.13 for next year compared to RM0.13 last year. Declared Dividend • May 27
First quarter dividend of RM0.015 announced Dividend of RM0.015 is the same as last year. Ex-date: 21st June 2024 Payment date: 12th July 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 26
Bp Plastics Holding Bhd. Announces First Interim Single-Tier Interim Dividend for the Financial Year End 31 December 2024, Payable on July 12, 2024 BP Plastics Holding Bhd. announced the First Interim Single-tier interim dividend of 1.5 sen per share for the Financial Year End 31 December 2024. Ex-Date 21 June 2024, Entitlement date 24 June 2024, Payment Date 12 July 2024. New Risk • May 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (RM430.7m market cap, or US$91.5m). Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to RM1.50, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Packaging industry in Asia. Total returns to shareholders of 92% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM2.06 per share. Reported Earnings • Apr 28
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: RM0.13 (up from RM0.11 in FY 2022). Revenue: RM469.6m (down 6.6% from FY 2022). Net income: RM35.2m (up 15% from FY 2022). Profit margin: 7.5% (up from 6.1% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.4%. Earnings per share (EPS) exceeded analyst estimates by 11%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Apr 24
BP Plastics Holding Bhd., Annual General Meeting, May 24, 2024 BP Plastics Holding Bhd., Annual General Meeting, May 24, 2024, at 09:00 Singapore Standard Time. Location: Level 7, Menara Milenium,Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur Malaysia Agenda: To discuss the Audited Financial Statements for the financial year ended 31 December 2023 together with the Reports of the Directors and the Auditors thereon; to re-elect Mr. Tan See Khim who is retiring pursuant to Clause 122 of the Company's Constitution and being eligible, has offered for re-election; to re-elect Mr. Lim Kim Hock who is retiring pursuant to Clause 122 of the Company's Constitution and being eligible, has offered for re-election; to re-elect Ms. Chuah Sue Yin who is retiring pursuant to Clause 122 of the Company's Constitution and being eligible, has offered for re-election; and to discuss other matters. Upcoming Dividend • Mar 07
Upcoming dividend of RM0.015 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 48% and the cash payout ratio is 86%. Trailing yield: 4.7%. Lower than top quartile of Malaysian dividend payers (4.8%). Higher than average of industry peers (2.8%). Declared Dividend • Feb 29
Fourth quarter dividend of RM0.015 announced Shareholders will receive a dividend of RM0.015. Ex-date: 14th March 2024 Payment date: 5th April 2024 Dividend yield will be 4.7%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: RM0.13 (vs RM0.11 in FY 2022) Full year 2023 results: EPS: RM0.13 (up from RM0.11 in FY 2022). Revenue: RM469.6m (down 6.6% from FY 2022). Net income: RM35.2m (up 15% from FY 2022). Profit margin: 7.5% (up from 6.1% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Buying Opportunity • Jan 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.7%. The fair value is estimated to be RM1.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 2.5%. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 39% in the next 2 years. Upcoming Dividend • Dec 07
Upcoming dividend of RM0.015 per share at 4.6% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 11 January 2024. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (2.9%). Buying Opportunity • Dec 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.1%. The fair value is estimated to be RM1.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 2.5%. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 39% in the next 2 years. Announcement • Nov 22
BP Plastics Holding Bhd. Announces Single-Tier Third Interim Dividend for the Fiscal Year Ended 31 December 2023, Payable on 11 January 2024 BP Plastics Holding Bhd. announced single-tier third interim dividend of 1.5 sen per share for the fiscal year ended 31 December 2023. Ex-date is 14 December 2023. Payment date is 11 January 2024. Reported Earnings • Nov 22
Third quarter 2023 earnings released: EPS: RM0.026 (vs RM0.019 in 3Q 2022) Third quarter 2023 results: EPS: RM0.026 (up from RM0.019 in 3Q 2022). Revenue: RM117.2m (down 2.9% from 3Q 2022). Net income: RM7.26m (up 36% from 3Q 2022). Profit margin: 6.2% (up from 4.4% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Packaging industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 14
Upcoming dividend of RM0.015 per share at 4.3% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 12 October 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (2.8%). Announcement • Aug 23
BP Plastics Holding Bhd. Proposes Second Single Tier Interim Dividend in Respect of the Financial Year Ending 31 December 2023, Payable on 12 October 2023 The Board of Directors of BP Plastics Holding Bhd. proposed a second single tier interim dividend of 1.5 sen per share in respect of the financial year ending 31 December 2023. The entitlement date is fixed on 22 September 2023 and payment will be made on 12 October 2023. Ex-Date is September 21, 2023. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: RM0.035 (vs RM0.043 in 2Q 2022) Second quarter 2023 results: EPS: RM0.035 (down from RM0.043 in 2Q 2022). Revenue: RM110.2m (down 21% from 2Q 2022). Net income: RM9.86m (down 19% from 2Q 2022). Profit margin: 8.9% (up from 8.7% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Packaging industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Jun 15
Upcoming dividend of RM0.015 per share at 4.6% yield Eligible shareholders must have bought the stock before 22 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (3.4%). Reported Earnings • May 27
First quarter 2023 earnings released: EPS: RM0.03 (vs RM0.027 in 1Q 2022) First quarter 2023 results: EPS: RM0.03 (up from RM0.027 in 1Q 2022). Revenue: RM117.3m (down 11% from 1Q 2022). Net income: RM8.30m (up 10.0% from 1Q 2022). Profit margin: 7.1% (up from 5.7% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 27
Bp Plastics Holding Bhd. Announces the Redesignation of Mr. Lim Kim Hock from Independent Director to Non-Independent and Non Executive Director BP Plastics Holding Bhd. announced the redesignation of Mr. Lim Kim Hock from Independent Director to Non-Independent and Non Executive Director, Age 57, Date of change 26 May 2023. Upcoming Dividend • Mar 09
Upcoming dividend of RM0.015 per share at 4.5% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 07 April 2023. Payout ratio is a comfortable 30% and the cash payout ratio is 92%. Trailing yield: 4.5%. Lower than top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (3.1%). Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: RM0.11 (vs RM0.17 in FY 2021) Full year 2022 results: EPS: RM0.11 (down from RM0.17 in FY 2021). Revenue: RM502.6m (up 12% from FY 2021). Net income: RM30.5m (down 34% from FY 2021). Profit margin: 6.1% (down from 10% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 20% per year. Upcoming Dividend • Dec 05
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 12 December 2022. Payment date: 12 January 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (3.2%). Major Estimate Revision • Nov 28
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from RM0.13 to RM0.11 per share. Revenue forecast steady at RM492.2m. Net income forecast to shrink 13% next year vs 27% growth forecast for Packaging industry in Malaysia . Consensus price target down from RM1.64 to RM1.36. Share price fell 6.5% to RM1.29 over the past week. Announcement • Nov 24
BB Plastics Holding Bhd Proposes Third Single Tier Interim Dividend in Respect of the Financial Year Ending 31 December 2022, Payable on 12 January 2023 The Board of Directors of BP Plastics Holding Bhd proposed a third single tier interim dividend of 1 sen per share in respect of the financial year ending 31 December 2022. The entitlement date is fixed on 13 December 2022 and payment will be made on 12 January 2023. Ex-Date is 12 December 2022. Buying Opportunity • Nov 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be RM1.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 0.3% in 2 years. Earnings is forecast to decline by 1.8% in the next 2 years. Price Target Changed • Nov 22
Price target decreased to RM1.36 Down from RM1.64, the current price target is an average from 4 analysts. New target price is 7.1% above last closing price of RM1.27. Stock is down 32% over the past year. The company is forecast to post earnings per share of RM0.12 for next year compared to RM0.17 last year. Reported Earnings • Nov 22
Third quarter 2022 earnings released: EPS: RM0.019 (vs RM0.036 in 3Q 2021) Third quarter 2022 results: EPS: RM0.019 (down from RM0.036 in 3Q 2021). Revenue: RM120.7m (up 6.6% from 3Q 2021). Net income: RM5.35m (down 47% from 3Q 2021). Profit margin: 4.4% (down from 8.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Packaging industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 22% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. Independent Non-Executive Director Sue Chuah was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 12
Upcoming dividend of RM0.015 per share Eligible shareholders must have bought the stock before 19 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: RM0.043 (vs RM0.052 in 2Q 2021) Second quarter 2022 results: EPS: RM0.043 (down from RM0.052 in 2Q 2021). Revenue: RM139.5m (up 28% from 2Q 2021). Net income: RM12.2m (down 17% from 2Q 2021). Profit margin: 8.7% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 1.6% compared to a 11% growth forecast for the Packaging industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 26% per year. Announcement • Aug 16
BP Plastics Holding Bhd Declares Second Interim Dividend for the Financial Year Ending 31 December 2022, Payable on 7 October 2022 BP Plastics Holding Bhd declared second interim dividend Single-tier interim dividend of 1.5 sen per share for the financial year ending 31 December 2022. Scheduled dates are as follows: Ex-Date 19 September 2022, Entitlement date 20 September 2022 and Payment Date of 07 October 2022. Upcoming Dividend • Jun 14
Upcoming dividend of RM0.015 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 07 July 2022. Payout ratio is a comfortable 26% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Lower than top quartile of Malaysian dividend payers (4.8%). Higher than average of industry peers (2.9%). Major Estimate Revision • May 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from RM0.17 to RM0.13 per share. Revenue forecast steady at RM489.9m. Net income forecast to shrink 17% next year vs 19% growth forecast for Packaging industry in Malaysia . Consensus price target down from RM2.07 to RM1.53. Share price fell 8.0% to RM1.38 over the past week. Buying Opportunity • May 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be RM1.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 4.8% in a year. Earnings is forecast to grow by 11% in the next year. Reported Earnings • Apr 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: RM0.17 (up from RM0.10 in FY 2020). Revenue: RM447.1m (up 41% from FY 2020). Net income: RM46.5m (up 57% from FY 2020). Profit margin: 10% (up from 9.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 8.9%, compared to a 12% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 27% per year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Sue Chuah was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Mar 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be RM1.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% per annum over the last 3 years. Earnings per share has grown by 29% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 17% share price decline to RM1.41, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Packaging industry in Malaysia. Total returns to shareholders of 117% over the past three years. Upcoming Dividend • Mar 03
Upcoming dividend of RM0.02 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 08 April 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Malaysian dividend payers (4.5%). Higher than average of industry peers (2.7%). Price Target Changed • Feb 23
Price target decreased to RM2.07 Down from RM2.23, the current price target is provided by 1 analyst. New target price is 29% above last closing price of RM1.61. Stock is up 75% over the past year. The company is forecast to post earnings per share of RM0.17 for next year compared to RM0.17 last year. Reported Earnings • Feb 22
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.17 (up from RM0.10 in FY 2020). Revenue: RM447.2m (up 41% from FY 2020). Net income: RM46.5m (up 57% from FY 2020). Profit margin: 10% (up from 9.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 8.9%, compared to a 10% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 29% per year and the company’s share price has also increased by 29% per year. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment deteriorated over the past week After last week's 34% share price decline to RM1.71, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Packaging industry in Malaysia. Total returns to shareholders of 89% over the past three years. Upcoming Dividend • Nov 29
Upcoming dividend of RM0.03 per share Eligible shareholders must have bought the stock before 06 December 2021. Payment date: 06 January 2022. Trailing yield: 17%. Within top quartile of Malaysian dividend payers (4.6%). Higher than average of industry peers (4.0%). Announcement • Nov 24
BP Plastics Holding Bhd Declares Special Dividend for the Financial Year Ended December 31, 2021, Payment Date Is 06 January 2022 BP Plastics Holding Bhd declared Special Dividend of 1 sen per share (Single Tier Interim Dividend) in respect of the financial year ended December 31, 2021. Ex-Date is December 06, 2021 and Entitlement time is December 07, 2021. Payment Date is 06 January 2022. Reported Earnings • Nov 23
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: RM0.054 (up from RM0.041 in 3Q 2020). Revenue: RM113.3m (up 54% from 3Q 2020). Net income: RM10.1m (up 31% from 3Q 2020). Profit margin: 8.9% (down from 11% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.8%, compared to a 11% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 14
Upcoming dividend of RM0.03 per share Eligible shareholders must have bought the stock before 21 September 2021. Payment date: 08 October 2021. Trailing yield: 3.0%. Lower than top quartile of Malaysian dividend payers (4.2%). Higher than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improved over the past week After last week's 21% share price gain to RM2.67, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Packaging industry in Malaysia. Total returns to shareholders of 216% over the past three years.