RHBInvest Research

Media:

Sector Update

• Strong start to the year
• Media Prima (FV=RM3.20) remains our preferred pick given its position as the largest integrated media player in Malaysia and given its relatively fixed cost structure, any increase in topline, will flow straight to bottomline. We maintain our Outperform call on MCIL (FV=RM1.38) and Star (FV=RM4.23).

Corporate Highlights

Gamuda:

• 2QFY11 Results/Briefing Note
• 1HFY07/11 net profit grows 20% yoy.
• Gamuda expects the Government to officially call for the tender for the tunneling works for the Sungei Buloh – Kajang line of the MRT project in 4Q2011.
• Gamuda formally announced that it had been granted by the Government a second extension of time for the completion of the Ipoh – Padang Besar double-tracking project to Nov 2014.
• The maiden launch of Gamuda City in Hanoi is expected in Jul.
• Maintain Market Perform. Fair value is RM4.03.