[%NMvV%]
Research by Kenanga
Outperform – TP of RM1.42

“Looking Up”

BPPLAS guided for a sustained recovery underpinned by, among others, a robust air travel market which translates to higher demand for plastic packaging used for transportation and storage purposes. It also expects higher sales for its high-margin thinner gauge stretch film and technical customised blown film. We raise our FY24F and FY25F earnings forecasts by 4% and 3%, respectively, lift our TP by 16% to RM1.42 (from RM1.23) and upgrade our call to OUTPERFORM from MARKET PERFORM. 

Analyst(s):
Teh Kian Yeong 
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$KLSE-BPPLAS
Research by Kenanga
Outperform – TP of RM1.42

“Looking Up”

BPPLAS guided for a sustained recovery underpinned by, among others, a robust air travel market which translates to higher demand for plastic packaging used for transportation and storage purposes. It also expects higher sales for its high-margin thinner gauge stretch film and technical customised blown film. We raise our FY24F and FY25F earnings forecasts by 4% and 3%, respectively, lift our TP by 16% to RM1.42 (from RM1.23) and upgrade our call to OUTPERFORM from MARKET PERFORM. 

Analyst(s):
Teh Kian Yeong 
tehky@kenanga.com.my