Equity Analysis /
Malaysia

MY : Media - Overall - The overlooked shelter

    Ahmad Kamarul Anwar Kamaruddin
    CGS-CIMB
    25 March 2022
    Published by

    We argue that our top picks for the media sector, Astro Malaysia and Media Prima, are attractive investments in this high-inflation era. Besides benefiting from a growing ad market, entertainment and visual-based media companies have negligible exposure to variable costs. Astro and Media Prima also offer CY22-23F dividend yields of 5-10%, against Malaysia’s CY22F consumer price index (CPI) of 2.7%.