Investment Journey Plan - 23 Feb 2026

Portfolio diversification to retail sectors (Defensive strategy) - $ERAA
Since my porto is heavily exposed to Oil and Gas sector, it times to diversified to defensive sectors and move-on from KBMI-4 area.

Positive tailwinds from this cyclical consumers:
- Ramadhan consumption uplift
- iPhone 17 sales growth as main driver
- Improvement in 2026 consumer confidence index (Jan 2026: 127 pts)
- Optional growth from diversification into lifestyle, AUTOMOTIVE, and F&B
- "Konglo" subsidiary company

However, several risks also catching behind:
- Low margin and inventory-heavy business model
- Balance sheet sensitivity due to working capital requirements -> Negative CFO 9M25 & heavy loan usage for rapid expansion and inventory resupply
- Earnings volatility tied to product launches
- Dividend yield lower than banking alternatives

$ERAA is not being added as a conviction compounder.
It is being added as a flawed but potentially mispriced cyclical asset that improves portfolio diversification. DYOR