Electrical Home Company Limited (Vietnam)

The subject is a wholly-owned subsidiary of PADAZ HOLDING PTE. LTD. The subject specializes in distributing air conditioners of Panasonic brand. All the products are sold indirectly through its agents. Currently, it has no import/export activities.In general,  purchasing power from the beginning of the year until now has fallen more than expected in the electronics and technology markets, causing revenue and profit to plunge. To regain double-digit growth momentum, it may not be possible in the short term as the consumption market is expected to recover in the second half of 2023, and may have to wait for purchasing power to return to normal in the second half of 2024. For the air conditioning business, entering the peak of the hot season, to stimulate consumer demand, many electronics stores and supermarkets apply incentives such as free delivery, free installation for customers, get an extra year of warranty, etc. However, the purchasing power this season is quite slow and decreases significantly compared to previous years due to the difficult economic situation causing consumers to tighten their spending, reduce shopping or choose cheap products.