RHB Research said while year-to-date (Jan-Feb) gross adex for TV and print media was up 8.6% on-year, for full-year 2011, it projects adex could grow by 10.5% on-year.
“This is based on our projected 2011 GDP growth of 5% and the average GDP multiplier of 2.1 times. Notwithstanding the lack of ad-friendly events this year, adex growth should remain healthy, supported by resilient consumer spending,” it said on Wednesday, April 6.
RHB Research said Media Prima (Outperform, FV=RM3.20) remains its top pick given its position as the largest integrated media player in Malaysia.
“We view the sector as defensive and coupled with decent valuations and attractive dividend yields, these could help shield investors from the volatile market. Thus, we maintain our Overweight stance on the sector,” it said.
“This is based on our projected 2011 GDP growth of 5% and the average GDP multiplier of 2.1 times. Notwithstanding the lack of ad-friendly events this year, adex growth should remain healthy, supported by resilient consumer spending,” it said on Wednesday, April 6.
RHB Research said Media Prima (Outperform, FV=RM3.20) remains its top pick given its position as the largest integrated media player in Malaysia.
“We view the sector as defensive and coupled with decent valuations and attractive dividend yields, these could help shield investors from the volatile market. Thus, we maintain our Overweight stance on the sector,” it said.
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