ID : Erajaya Swasembada - Expanding into white goods

Based on local news today, ERAA will form a JV with Mobile World (MWG), the largest retailer in Vietnam, to sell white goods. Awaiting official statement. This comes as the company hopes to grab opportunities with the government gradually switching from analogue to digital TV broadcasts in Apr-Nov 22. Similar to its other business expansion efforts, the white goods segment offers higher GPM and ROE, which should be positive. Reiterate Add.