Main Board BP Plastics Reports Cumulative Revenue of RM233.34mil Despite Exports Taking A Strong Beating in Q4 2008
Kuala Lumpur, 20 February 2009 – Although exports around the region took a beating in the fourth quarter (4Q) of 2008, Main Board listed BP Plastics Holding Bhd (BPPLAS) announced today that the company achieved a cumulative revenue of RM233.34mil and net profit of RM11.74mil.
“I see our result as a monumental feat taking into account the adversely affected market, major trading partners succumbing to negative economic pressures and the high rate of unemployment which generally slows demand of goods in the international arena,” said Lim Chun Yow, Chairman and Managing Director of BPPLAS.
Overall, the group’s total cumulative 4Q revenue ended December 2008 still improved by 14%, although net profit declined slightly by 0.85% in comparison to the cumulative 4Q in 2007.
Lim added that BPPLAS is also declaring a one-time first and final dividend of 4% tax exempted at RM0.02 per share for its investors.
With projected outlook for 2009 being sluggish with major trading nations experiencing drastic contractions in exports and imports, the company is taking extra measures such as constant stock and inventory reviews, minimisation of operating costs to combat the soft market and ensure profitability in financial year 2009.
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ABOUT BP Plastics Holding Bhd
Established in 1990, BP Plastics Holding Bhd (BPPLAS) is today one of the leading producers of industrial plastic packaging bags and stretch film in Malaysia. The company focused in producing and supplying cast stretch film and polyethylene film and bag for industrial, commercial, logistic and warehousing usage.
BPPLAS was listed on the Main Board of Bursa Malaysia Securities Berhad in 23rd February 2005 and currently operates more than 80 units of manufacturing machineries with a combined workforce of approximately 350 staffs. The company’s two production plants are located in Sri Gading Industrial Estate, Batu Pahat, Johor, Malaysia occupy 9 factory blocks with the total built up areas of more than 250,000 square feet on a total combined land of 15.5 acres has a combined annual capacity of 60,000 metric tonnes.
The company has evolved from a cottage plastic bag manufacturer back in 1990 to become a modernize high tech polyethylene film manufacturer by investing into state of the art machinery and equipments from Europe and United State.
BPPLAS aims are to grow their geographical market, increase production capacity and operation base, expand their line of services and continually be in the forefront of technology advancement – so that their customers and shareholders will receive the best they can offer.
For more information, please visit http://www. bpplas.com.my.
The past performance of BPPLAS is not indicative of the future performance of BPPLAS. This document may contain forward-looking statements that involve risk and uncertainties.
Actual future results may vary materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the company’s current view of future events.
For more information, please contact:
BP Plastics Holding Bhd
Kelly Tan/ Lee Kuan Hock
Esente Communications Sdn Bhd