Affin Hwang Capital Daily Insight (LV) - 20 April 2015 - MCIL / BAT / BURSA / ECONOMY - US OUTLOOK

Top Calls

Company Update � MCIL (SELL, maintain) - Exploring beyond print The challenging market outlook has affected all print media companies. MCIL has not been spared and is continuously expanding its digital platforms to diversify its revenue stream. Meanwhile, print is still key and this segment remains weak, mainly due to the lack of a feel good factor to spend. With earnings and DPS at risk, we maintain our SELL rating and target price of RM0.63.

Other Calls

Company Update � British American Tobacco (HOLD, maintain) - Back to square one

Company Update � Bursa (HOLD, maintain) - Market remains resilient; 1Q15 should be in line

Economy � US Outlook � Weekly Wrap (13 � 17 April 2015) - Will US Fed delay the first rate hike until September?

Morning News & Market Summary