1Q12 likely to have been the trough. Media Prima’s (MPR) 1Q12 results
were a tad below expectations due to a higher than expected discounting
rate at its TV segment. No interim dividends were declared. That said,
we are more upbeat on its prospects going forward due to signs of
recovery in consumer sentiment and stabilising newsprint prices.
Maintain earnings forecasts, HOLD call and MYR2.34 TP.
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Source: Maybank Research - 17 May 2012
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