We trim our EPS forecasts for 2018 and 2019 by 2.5% mainly due to higher opex assumptions for the minimart business. However, our TP stays unchanged as we roll over our DCF valuation. We reiterate BUY on MWG as it remains at the forefront of Vietnam’s booming modern retail sector. Concrete progress in the minimart/grocery chain bodes well for its long-term growth.