Latest news with #SenhengNewRetailBhd
The Star
a day ago
- Business
- The Star
Senheng appoints Lim Kim Heng as MD
PETALING JAYA: Senheng New Retail Bhd has appointed Lim Kim Heng, 64, as managing director (MD), effective Aug 1, 2025. In a filing with Bursa Malaysia, the company said its board of directors approved the appointment and re-designation of Lim from non-independent executive chairman to non-independent executive chairman and managing director on July 22. The consumer electronics and appliances retailer also approved the re-designation of Lim from president/non-independent executive director to non-independent non-executive director, also effective Aug 1. For its first quarter of financial year ended March 31, 2025, Senheng's net profit dipped to RM4.73mil from RM6.23mil in the previous corresponding period, while revenue dropped to RM276.98mil from RM322.02mil a year earlier.
New Straits Times
26-06-2025
- Business
- New Straits Times
Senheng eyes renewed growth as tech replacement cycle kicks off
KUALA LUMPUR: Senheng New Retail Bhd expects stronger demand for consumer electronics starting this year, driven by global replacement cycles and supported by its ongoing digital and omnichannel transformation. In a statement today, the group said it is enhancing its digital capabilities and improving both online and offline sales channels to expand market reach and capture greater market share. It said the strategy aligns with industry trends highlighted in NielsenIQ GfK's Consumer Tech Industry Trends 2025 report, which noted that global replacement cycles for key consumer tech products have already begun, particularly in Emerging Asia. Senheng said its transformation efforts are already yielding results, with online revenue rising 54 per cent and brand distribution revenue growing 50 per cent between 2023 and 2024. This momentum has continued into the first quarter of 2025. The group attributed part of this growth to stronger digital marketing efforts and engagement via its e-commerce platforms, the Senheng app, and social media channels including Instagram and TikTok. This has also helped expand its PlusOne loyalty membership, which now exceeds four million members. Executive chairman Lim Kim Heng said the group's 'Flywheel 1.0' plan is central to enhancing customer experience and market positioning. "We are refining our operations to deliver superior experiences at every touchpoint, from elevating our physical store network for immersive interactions to harnessing digital platforms and artificial intelligence for frictionless online engagement," he said. "Our comprehensive reach ensures we effectively connect with diverse consumers and are ready to capture the incoming consumer electronics replacement cycle, driving our next phase of growth." Senheng said its brand distribution business is also performing well, supported by an expanded portfolio of international household and personal care electronics. The group has also introduced more sustainable offerings, including home solar solutions launched with strategic partners. Looking ahead, Senheng expects demand to rebound following a period of subdued consumer activity in 2024, which it described as a market normalisation phase after the pandemic-era surge in tech purchases from 2020 to 2021. The company maintained a robust revenue of RM1.2 billion in 2024, and is confident of sustaining growth as a new demand cycle—typically seen every four to five years—takes hold. To support this, the 'Flywheel 1.0' blueprint includes 24 actionable initiatives across six strategic pillars focused on operational efficiency and innovation. Key initiatives include leveraging AI for precision marketing and inventory management, implementing new retail systems (NRS), establishing a Centre of Excellence, and upgrading digital platforms. The company is also optimising its omnichannel network by enhancing store productivity and executing targeted strategies and promotions to boost efficiency and sales across its retail footprint.
