Stock Digest - BP Plastics Holding Berhad - Hit By Weakened Demand, Lower ASP, And Higher Costs

While market cycle has been establishing a long trough floor, resin price continued to see consolidation in 4Q22. Market was hit by massive oversupply due to uninspiring demand environment. Nevertheless, we expect spot resin activity to gradually pick up in FY23, but demand may remain slow at least for 1H23.