The money isn’t in politics
? We find entertainment and visual media players have a stronger ESG
proposition than news producers because they have lower political risks.
? We conclude Astro and Media Prima are the two companies with minimal
exposure to political risks, with CY22-23F yoy EPS growth of 4-44%.
? We are concerned with some of Malaysia’s archaic free-speech laws
clouding news producers’ objectivity – thus, squeezing their drawing power.