Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Kenanga Research has lowered its price target for Star Publications (Malaysia) Bhd to RM3.26 due to slumping circulation numbers for the English-language daily newspaper and a weaker profit outlook.
"Star's circulation number has continued to deteriorate since CY06 from 310,000 copies per day to 291,000 in CY10 due mainly to the failure to attract young readers," the broker said in a research note on Wednesday.
To engage young, tech-savvy readers, Star has launched a digital paper where subscribers can read it online or download it to their computers, smartphones or tablets, Kenanga said.
While it is the right move to attract the young, Kenanga said, the e-Paper will hurt Star's circulation revenue because the new discounted rates are 43.5 percent cheaper. -- Reuters
Company Name: STAR PUBLICATIONS (M) BHD
| Research House: KENANGA | Price Call: HOLD | Target Price: 0.00 |
Kenanga Research has lowered its price target for Star Publications (Malaysia) Bhd to RM3.26 due to slumping circulation numbers for the English-language daily newspaper and a weaker profit outlook.
"Star's circulation number has continued to deteriorate since CY06 from 310,000 copies per day to 291,000 in CY10 due mainly to the failure to attract young readers," the broker said in a research note on Wednesday.
To engage young, tech-savvy readers, Star has launched a digital paper where subscribers can read it online or download it to their computers, smartphones or tablets, Kenanga said.
While it is the right move to attract the young, Kenanga said, the e-Paper will hurt Star's circulation revenue because the new discounted rates are 43.5 percent cheaper. -- Reuters
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