bonus issue is new free shares to shareholders. (similar to dividend issue in the form of shares logic), no change in face value. number of issue shares increase through capitalizing historical profit (retained earning).

share split is splitting existing share into smaller units. No increase in total issued shares. means face value of each new board lot shares dropped. This exercise doesn't back by historical profit records.

i think benjamin got abit wrong, share split also increases total issued share like bonus issue la. 1 share rm10 split into 2 share, thus total share increases.
everything is same about bonus and split, just 2 main different: bonus share uses company retained earnings while split doesnt need money, thats why company with loss position cant do that. the other different is face value.
somehow i think split is better than bonus coz company still got more cash

since both is to increases market liquidity, and nobody really care about par value, thus i think why not make share split and pay dividend using retained earnings.
bur bonus share is more positive because its a signal that company is making money

retained earning doesn't mean cash my friend, compare P&L to cash flow statement you will know what I meant.

a good profit track records company can do 2 things, one is reinvest into the business especially those high capital intensive company, the other one is distribute back shareholders in form of dividend.

when you did step1 while still wanted to do step2, bonus issue is the option. Hope you are clear now.