Media Prima:
- Declining viewership not a concern
- Valuations remain decent while dividend yields are attractive.
- Outperform call on the stock.
Corporate Highlights
Top Glove:
- 1Q11 earnings down 44.7% yoy on higher latex cost.
- Fair value has been lowered to RM4.10 (from RM5.40)
- Underperform call on the stock remains unchanged.
Technical Highlights
Daily Trading Strategy:
- More negative outlook on the FBM KLCI’s immediate-term.
- Trend to revisit 1,474 recent low and the key level at 1,450.
Daily Technical Watch: Bursa Malaysia
- Short-term downswing to cover a technical gap at RM7.60 possible
- Immediate Support = RM7.60
- Immediate Resistance =RM8.20
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