Equity Analysis /
Singapore

SG : Singapore Press Holdings - Improving non-media segments

    Munyee Lock
    Munyee Lock

    Head of Regional Property

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    CGS-CIMB
    19 January 2021
    Published byCGS-CIMB

    Media adspend continued to weaken yoy in 1QFY8/21 but improved qoq. Improving non-media segments partially offset the weaker adspend. We reiterate our Hold call but raise TP to S$1.31. Lack of near-term catalysts.