In the Bonus Issue Circular released on 5 November 2021, BPPLAS management has expressed strong optimism and confidence in their business prospects. 

The Bonus Issue Circular excerpt below carries valuable information.

What are the highlights, especially for serious investors?

1. MCO earlier this year impacted BPPLAS minimally - Good.
    
2. Expanding market reach and revenue potential: Increasing sales among existing customers + acquiring new customers  - Good.
    
3. Growing demand of products. Demand of polyethylene plastic firms and bags packaging continue to grow, driven by e-commerce as well as food and essential products, which is expected to grow along with the recovery and reopening of economy - Good.
    
4. Expanding production capacity - Good.
   
   Further information (beyond the Bonus Issue Circular)...
    
5. Net cash company, with zero debt - Good.
    
6. Strong ROE of 17.8% - Good.
    
7. Growing. Last 4Q revenue has increased from RM74 million to RM109 million. Earnings and profit margins are also expanding - Good.
    
8. Attractive PER among peers - Good.
   - TGUAN: 13.1x.
   - BPPLAS: 13.5x (With strong product demand, revenue growth potential, capacity expansion potentially better margins due to economies of scale, this PER is rather attractive - Good.).
   - SCGM: 15.6x.
   - SCIENTX: 15.8x.
    
9. Business risks include rising raw material costs and loss of customers. 

Conclusion: BPPLAS's revenue potential is improving. Earnings potential is improving. Earnings margin could also improve due to better economies of scale. Net cash, financially ready for expansion, and they are indeed eyeing on expansion. Better days could be coming for BPPLAS - Good. Worth keeping an eye on.

Disclaimer: Information is publicly available. For general sharing purpose only. Stock valuation and technical analysis are beyond scope. Stock investment involves risks. No BUY/SELL recommendation.