Bursa Malaysia Stock Watch

Media: Maintain Neutral - May 2012 Adex: Some Relief At Last

kltrader
Publish date: Thu, 28 Jun 2012, 09:50 AM
kltrader
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Approaching breakeven. May 2012 total gross adex, although flattish YoY, is a welcome change after YoY contractions in total gross adex in three of the four preceding months. This confirms our earlier view that the worst is over for the media sector as the adex-friendly UEFA Euro Cup and London Summer Olympics get underway. We remain Neutral on the media sector. Attractive net dividend yields of 5-6% should limit downside risk for now.

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Source: Maybank Research - 28 June 2012
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