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Author: Tan KW   |   Latest post: Thu, 23 May 2019, 9:22 AM

 

COMMENTS ON BP PLASTICS HOLDING BHD (5100) - louisesinvesting

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Wednesday, January 9, 2019

 
FIGURE 1: BP PLASTICS HOLDING BHD LAST 5 YEARS SHARE PRICE TREND
**analysis based on 2017 annual report.
1.       GENERAL INTRO: This counter core business is manufacturing and distribution of plastic shrink, stretch and FFS films for packaging purpose.
 
2.       NOTABLE POINTS:
a.    customer base in Asia countries 62%, Malaysia 25%, other countries 13%. In 2017, roughly 75% revenue from export market, mainly from South Korea, Japan and ASEAN
b.    for long term business growth and performance, company more focus on superior good quality packaging than light weight packaging.
c.     in progress construction of new factory and warehouse with build-up area 61,420 square feet, which will expand manufacturing and storage capacity.
 
3.       IS THIS COUNTER A STRONG GROWTH STOCK? 
a.       REVENUE RANGE (million): ~ 328.5 million in 2017 annual report, this is a low to medium revenue company.
b.      SHARE PRICE: last few years share price on decreasing trend, dropped from ~RM2 in 2016 to current share price of ~RM1.
c.       EARNING PER SHARE (EPS): earning per share in last 5 years are fluctuating, EPS were 5.61, 5.55, 11.67, 9.52, 6.84 sen per share, respectively
d.      FUTURE POTENTIAL/PROSPECTS: main raw material (resin) is majority imported from onerseas, its costs may affect company profit margin
e.      CAPITAL EXPENDITURE (CAPEX): spending on purchase of new fixed assets is 3.4 million, around 1.5% of total assets.
 
4.       IS THIS A STRONG DIVIDEND STOCK?     
a.       DIVIDEND YIELD: in 2017 report, 4 sen per share dividend payout declared, amounts to 4.04% based on current share price
b.      CONSISTENCY: consistent dividend payout in last five years, which were 5, 6, 8, 8, 4 sen per share, respectively.
 
5.       OTHER INDICATORS:
a.       CASH FLOW: cash flow is positive, around 45.22 million
b.      SUPPORT BY INSTITUTIONAL INVESTORS: there is presence of 4 institutional investors at top 30 major shareholders list, including EPF, kumpulan wang persaraan and investment funds.
 
Disclaimer: The content of the blog posts are for sharing purpose only. Readers are encouraged to carry out further research and analysis as well as follow up latest update information before making any investment decisions.
 
 
 
 

 

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