We attended PLX’s well-organized AGM on April 27. Most of investor questions were related to the HD Bank-PG Bank merger, the Government’s divestment plan in 2018, the plan to sell treasury shares and Q1 results. PLX targets revenue growth of 2.8% and PBT growth of 4.5% on 2% total sales volume growth and a 4.5% increase in company-owned-company-operated (COCO) sales volume. 4M 2018 results beat this guidance but still lower than our expectation.