Monday 02 Oct 2023
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KUALA LUMPUR (Nov 15): Consumer electrical and electronics (E&E) retailer Senheng New Retail Bhd has obtained approval from the Securities Commission Malaysia (SC) to list on the Main Market of Bursa Malaysia Securities Bhd.

Founded in 1989, Senheng has a retail network of 104 stores across Peninsular and East Malaysia, and is supported by various online retail platforms.

In a statement Monday (Nov 15), Senheng said its stores carry more than 280 renowned consumer E&E brands, featuring a comprehensive range of digital gadgets, audio visuals, home appliances and related products.

Senheng executive chairman Lim Kim Heng said the firm was among the early adopters of the seamless new retail model and digitalisation, with all facets of operations enhanced by technological tools that optimize its business strategies.

“As a digitally-forward company, our operations are highly adaptable to challenges in the business environment.

“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,” he said.

Senheng is expected to list in January 2022.

Mercury Securities Sdn Bhd is the principal adviser, managing underwriter and joint bookrunner for the IPO exercise, while CIMB Investment Bank Bhd and AmInvestment Bank Bhd are the joint bookrunners and joint underwriters.

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