Honestly, I've reported this sentence to dedalvs and am awaiting his ruling, because so far as I can tell bony vala has to mean "that one, the man..."
But if the sentence gets changed, as I think it should be, to Bona vala sȳz raqiros issa, then yes, it could mean either "That man is a good friend" or "That good man is a friend." But the former seems more likely.
I would assume from other lessons that when in doubt, the adjectives precede the nouns they describe. Much like Vala syyz issa is "the man is good" rather than "the good man is"; but Syyz vala issa would be "the good man is", which would make Syyz vala raqiros issa "the good man is a friend"