MALAYSIA’S leading consumer electrical and electronic (E&E) retailer Senheng New Retail Bhd has obtained the approval from the Securities Commission (SC) to list on the Main Market of Bursa Malaysia.
Founded in 1989, Senheng, which has grown its retail network to 104 stores across Peninsular and East Malaysia, is expected to list in January 2022.
Supported by various online retail platforms, Senheng stores carry more than 280 renowned consumer E&E brands, featuring a comprehensive range of digital gadgets, audio visuals, home appliances and related products.
A first-mover in digital adoption and transformation, Senheng continues to deliver excellent customer satisfaction via its Seamless New Retail model. The group has a growing customer base with over three million PlusOne loyalty members to-date.
“Senheng has grown into one of the most prominent retail brands in Malaysia, thanks to our constant drive to innovate and provide the best shopping experience,” commented Senheng’s executive chairman Lim Kim Heng.
“Notably, we are one of the early adopters of the Seamless New Retail model and digitalisation with all facets of our operations enhanced by technological tools that optimise our business strategies.”
Mercury Securities Sdn Bhd is the principal adviser, managing underwriter and joint bookrunner for the initial public offering (IPO) exercise, while CIMB Investment Bank Bhd and AmInvestment Bank Bhd are the joint bookrunners and joint underwriters.
“As a digitally-forward company, our operations are highly adaptable to challenges in the business environment,” Lim pointed out.
“In fact, we recorded healthy growth in our financial performance despite multiple iterations of the movement control order. This is attributed to our ability to provide uninterrupted service to customers via our integrated e-commerce and telemarketing channels.” – Nov 15, 2021
Photo credit: WorldOrgs.com
