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Research by Kenanga
UNDERPERFORM– TP RM 0.32

" Executing 3-year Plan to Prop Topline”

MEDIA is partnering with local production houses to expand Tonton’s catalog. Meanwhile, progress to upgrade and digitalize Big Tree’s OOH advertising sites are ongoing. Moving forward, we believe adex may soften as major advertisers are affected by recent mass brand boycotts. Lastly, future cost cutting measures are expected to yield limited savings as MEDIA’s staff force has reached optimal state. We maintain our forecasts, TP of RM0.32 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan 
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$KLSE-MEDIA 
Research by Kenanga
UNDERPERFORM– TP RM 0.32

" Executing 3-year Plan to Prop Topline”

MEDIA is partnering with local production houses to expand Tonton’s catalog. Meanwhile, progress to upgrade and digitalize Big Tree’s OOH advertising sites are ongoing. Moving forward, we believe adex may soften as major advertisers are affected by recent mass brand boycotts. Lastly, future cost cutting measures are expected to yield limited savings as MEDIA’s staff force has reached optimal state. We maintain our forecasts, TP of RM0.32 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan 
kyliechan@kenanga.com.my