Bursa Malaysia Stock Watch

Star Publications (Malaysia): Maintain Hold - Not Good But Could Have Been Worse

kltrader
Publish date: Thu, 24 May 2012, 09:40 AM
kltrader
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Maintain HOLD. 1Q12 results were below expectations due to newspaper adex easing YoY and 64%-owned Cityneon Holdings incurring cost overruns. We trim our earnings estimates and ex-net cash DCF-based TP by 2-3%. We expect future quarters to be better due to adex-friendly events ahead. Star remains a HOLD for its stable and attractive net dividend yields of >5%.

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Source: Maybank Research - 24 May 2012
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