Media Chinese International: Maintain Buy - Still The One To Read

• Still our top pick of the media sector. MCIL's 1QFY3/13 results were largely within expectations.
• We continue to like MCIL for its resilient adex growth, plunging newsprint prices, and proposed capital repayment of MYR0.41/share that will also double its ROE to an annualised c.30%. Maintain BUY and TP of MYR1.97 (MYR1.56 excapital repayment) on 13x current year PER.

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Source: Maybank Research - 30 August 2012