Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $4
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

Malaysian electronics retailer eyes huge growth after IPO

(Source: Senheng/ Facebook)

Malaysian consumer electronics retailer Senheng New Retail Berhad (Senheng) will upgrade or open 61 stores during the next two years after raising US$63.6 million in an IPO on Malaysia’s stock exchange this month.

The share issue will take the group’s value to US$380 million with the majority of the proceeds raised used to fund expansion of its store network and developing concept stores. About $12.3 million will be dedicated to strengthening the group’s back-end capacities and capabilities, including expanding the warehouse and logistics network.

Lim Kim Heng, executive chairman at Senheng, said the company wants to become “the territory champion” within a 5km radius of each of its stores and offer the largest floor space and variety of products in the consumer electronics category.

“These investments will not only extend our strong growth seen over the years but also propel us to higher ground as we head into the next phase of our transformation journey.”

Shenheng is expected to list on the main market of Bursa Malaysia on January 25.

Founded in 1989, Senheng operates more than 100 physical stores across Peninsular and East Malaysia. The company reported achieving $309 million in revenue in FYE 2020, surging 13.1 per cent year on year.

You have 7 free articles.

Masterclasses are for professionals only

Only $4 USD p/m for first 3 months
Become a Professional Already a professional? Login
  • Daily exclusive Members Only content straight to your inbox
  • Access to exclusive Retail Week events including all 4 Masterclasses 28 February - 3 March
  • Retail insights and intelligence
  • On-demand videos with industry professionals
  • Weekly careers advice specific to retailers
  • Independent research reports and forecasts
  • Q&A with industry experts
  • Content, content, content! Weekly and quarterly magazines