SENHENG NEW RETAIL BERHAD

KLSE (MYR): SENHENG (5305)

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Last Price

0.295

Today's Change

-0.01 (3.28%)

Day's Change

0.285 - 0.30

Trading Volume

2,263,000


3 people like this.

1,353 comment(s). Last comment by donthaveregrets 1 week ago

Good123

24,555 posts

Posted by Good123 > 2023-01-27 11:53 | Report Abuse

its initial public offering (IPO) price of RM1.07. now 57.5sen ,,,,,, discount ~47% grab dan simpan je lah

Good123

24,555 posts

Posted by Good123 > 2023-01-27 11:55 | Report Abuse

TK... beli terus :0

Senheng New Retail Bhd - Two-prong strategies yielding higher margin
Date:
2022-08-29
Firm:
CIMB
Stock:
SENHENG
Price Target:
0.90
Price Call:
BUY
Last Price:
0.575
Upside/Downside:
+0.325 (56.52%)
We deem Senheng’s 1H22 core net profit of RM33.1m (+31.1% yoy) above our expectations due to higher-than-expected margins.
We expect it to post stronger hoh results in 2H22F on i) seasonality factors with a bumper 4Q, ii) better product mix, and iii) higher operational efficiency.
Reiterate Add, with a higher TP of RM0.90 (17.4x CY23F P/E) as we raise our FY22-24F EPS by 7.5-12.3% to account for higher margin assumptions.
1H22 core net profit of RM33.1m (+31.1% yoy) above expectations

Senheng’s 1H22 revenue rose 13.5% yoy to RM765.0m, boosted by strong 2Q22 performance on the back of Raya festive sales and more new/upgraded stores, leading to higher sales particularly at its “senQ” digital stations (+11.3% yoy) and “Grand Senheng” stores (+51.1% yoy). We deem 1H22 core net profit above our expectations, at 48.3% of our FY22F estimate, owing to better-than-expected GP and operating margins. 1H22 GP margin expanded to 20.3% (+0.6% pts yoy) on a better product mix while EBITDA margin rose to 8.4% (+0.9% pts yoy), which we attribute to its ongoing internal cost efficiency efforts (enhancing productivity by having trucks cover a wider area and more delivery orders fulfilled per truck) and more cost-effective promotional activities, thanks to targeted marketing via automated digital marketing solutions.

2Q22 core net profit rose to RM20.0m (+68.0% yoy)

Senheng New Retail Bhd’s (Senheng) 2Q22 revenue increased 32.9% yoy to RM397.7m, mainly driven by i) various marketing campaigns (i.e. Raya festive sales, Member Month, and 6.6 Macam-Macam Sales), ii) higher per-store sales on six new/upgraded stores during the quarter, and iii) higher footfall on easing of Omicron wave and full lifting of Covid-19 travel and business restrictions. In addition, 2Q22 GP margin climbed 1.2% pts yoy to 22.1% on a more favourable product mix due to its ongoing store expansion strategy with wider higher-margin product selection, in our view. On top of that, opex as a percentage of revenue declined to 12.7% in 2Q22 (vs. 2Q21: 13.3%), which we believe was due to its ongoing efficiency initiatives yielding higher operational efficiency.

Expecting stronger hoh results in 2H22 on margin expansion

Going forward, we expect Senheng to post stronger hoh results in 2H22, premised on i) seasonality factor (4Q is typically the strongest quarter, accounting for 42-44% of FY20/21 core net profit on strong year-end and holiday promotional campaigns), ii) more favourable GP margin from its aggressive plan to grow its higher-margin in-house and exclusive products, and iii) higher operational efficiency via ongoing internal efficiency projects and proprietary digital marketing solutions, which should lower its A&P costs.

Reiterate Add, with a higher TP of RM0.90

We reiterate our Add call on Senheng given its effective business execution leading to margin expansion. Hence, we raise our FY22-24F EPS by 7.5-12.3% to account for our higher margin assumptions. Accordingly, our TP is raised to RM0.90 (17.4x CY23F P/E, a 20% discount to CGS-CIMB’s consumer discretionary sector’s 5-year mean P/E of 21.8x). The discount is to account for the competitive nature of the retail E&E sector. We like Senheng for its: i) leading position in consumer electronics, ii) loyal customer base of 3.5m PlusOne members, and iii) wider product offerings vs. peers.


Good123

24,555 posts

Posted by Good123 > 2023-01-27 11:59 | Report Abuse

beli terus dr pasaran terbuka lagi syiok... ipo price rm1.07 haha

Good123

24,555 posts

Posted by Good123 > 2023-01-27 11:59 | Report Abuse

mydiy juga sama... pada permulaan, tak minat.. kemudian memecut pulak

Good123

24,555 posts

Posted by Good123 > 2023-01-27 12:25 | Report Abuse

Tourists return jualan boleh boosted kan? :)

Good123

24,555 posts

Posted by Good123 > 2023-01-27 14:06 | Report Abuse

MR LIM KIM HENG Acquired 20,000
MR LIM KIM CHIENG Acquired 60,000
MR LIM KIM HENG Acquired 80,000
MR LIM KIM HENG Acquired 100,000
MR LIM KIM HENG Acquired 100,000
MR LIM KIM HENG Acquired 200,000
MR LIM KIM HENG Acquired 200,000
MR LIM KIM CHIENG Acquired 250,000

Good123

24,555 posts

Posted by Good123 > 2023-01-27 14:07 | Report Abuse

Financial

Market Cap: 855 Million

Latest Quarter: 30-Sep-2022 [#3]

T4Q Result: ( EPS: 4.72, P/E: 12.08 )

Latest Audited Result: 31-Dec-2021

Annual (Unaudited) ( EPS: 4.35, P/E: 13.10 )

Annualized Result ( EPS: 3.52, P/E: 16.22 )

Good123

24,555 posts

Posted by Good123 > 2023-01-27 14:07 | Report Abuse

Last 10 FY Result
AQR T4Q 31/12/21 31/12/20 CAGR
Revenue 1,492,168 1,575,519 1,444,115 1,294,769 11.53%
PBT 71,850 94,158 84,530 73,615 14.82%
Tax -19,130 -23,406 -19,268 -17,978 7.17%
NP 52,720 70,752 65,262 55,637 17.29%
-
NP to SH 52,720 70,752 65,262 55,637 17.29%
-
Tax Rate 26.62% 24.86% 22.79% 24.42% -
Total Cost 1,439,448 1,504,767 1,378,853 1,239,132 11.27%
-
Net Worth 508,200 508,200 233,667 166,285 40.52%

Good123

24,555 posts

Posted by Good123 > 2023-01-27 14:14 | Report Abuse

Dont shortshell , nanti kena bakar

Good123

24,555 posts

Posted by Good123 > 2023-01-27 14:17 | Report Abuse

<%-- for fixing scrollbar--%>
Save Print Back

5305 SENHENG SENHENG NEW RETAIL BERHAD
Quarterly rpt on consolidated results for the financial period ended 30/09/2022
Quarter: 3rd Quarter
Financial Year End: 31/12/2022
Report Status: Unaudited
Submitted By:
Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period
30/09/2022 30/09/2021 30/09/2022 30/09/2021
RM '000 RM '000 RM '000 RM '000
1 Revenue 354,104 313,811 1,119,126 987,722
2 Profit/Loss Before Tax 20,350 14,664 53,888 44,260
3 Profit/(loss) attributable to ordinary equity holders of the parent 14,548 10,739 39,540 34,051
4 Net Profit/Loss For The Period 14,548 10,739 39,540 34,051
5 Basic Earnings/Loss Per Shares (sen) 0.97 0.72 2.64 2.27
6 Dividend Per Share (sen) 0.00 0.00 0.50 0.00
As At End of Current Quarter As At Preceding Financial Year End
7 Net Assets Per Share (RM) 0.3388 0.1558
Remarks:
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

24/11/2022 07:00 AM


Ref Code: 202211243100395

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:17 | Report Abuse



Senheng Malaysia
https://www.senheng.com.my
Senheng Malaysia Online Store - Senheng Online Store
Image from senheng.com.my
We Provide a Wide Range Of Additional Benefits and Services To Our Customers. Shop Now. We Are Committed To Deliver a Truly Different

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:25 | Report Abuse

Senheng
https://www.senheng.com.my
Senheng | Largest Online Digital Station for Home Electrical Appliances
Senheng PWA APP. Get our free app. Install. Install Get our free app. Download our app; Follow Us. Instagram · Facebook · Twitter ·

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:28 | Report Abuse

SH Retail Academy
https://shretailacademy.com.my › n...
New Retail Training
SHRA is a Malaysia based learning institution and training provider that offers a new retail training program, HRDF Claimable.
The New Retail Revolution: What have changed in the Retail World?; What is New R...
Modern E-Commerce System: Case Study of Senheng Seamless Business Solution; ...

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:29 | Report Abuse

The New Retail Revolution: What have changed in the Retail World?; What is New R...
Modern E-Commerce System: Case Study of Senheng Seamless Business Solution; ...
https://shretailacademy.com.my
SH Retail Academy: Retail Training Academy For SMEs
SHRA combine time-proven application successes from Senheng with the latest knowledge and concepts to bring effective retail training.

Facebook
https://m.facebook.com › ... › Videos
The wait is over! SH Retail Academy (SHRA) E-Learning is now launched ...

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:29 | Report Abuse

SHRA E-Learning Platform is a collaborative effort between SH Retail Academy (MY) and Zillearn (SG) to raise working Malaysians to the next ...

Senheng
https://www.senheng.com.my › edu...
with senheng education assistance (sea)
Senheng Education Assistance (SEA) offers Education Scholarships for students who meets eligibility requirements. Application

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:33 | Report Abuse

The e-learning platform is made available on the Senheng app and aims to help workers pinpoint their skill gaps and personalise their learning experience.28 Oct 2022
https://www.therakyatpost.com › se...

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:34 | Report Abuse

driven skill gap analysis based on the users’ skill and their career advancements—providing them with a personalised learning pathway to speed up the success of attaining the right skill and the right career through the right training.

Senheng New Retail Bhd. Executive Chairman Lim Kim Heng
Kim Heng added that the e-learning platform would benefit micro, small and medium enterprises (MSME) as well as Malaysia Retail Chain Association (MRCA) members that may not have the budget to train their employees.

Plus it’s also Human Resource Development Corporation (HRD Corp) claimable—letting organizations utilize their HRD grants.

This intelligent platform is capable to personalise each user’s learning pathway and provide a report after. It resembles having a talent development department at a very low cost.

Senheng New Retail Bhd. Executive Chairman Lim Kim Heng.
Free classes for Senheng OnePlus members
To commemorate the platform’s launch, they are giving away 3-months free e-learning access to the first 3 million Senheng ‘PlusOne’ members.

And after 3 months, all PlusOne members can then earn S-Coin Cashback from any subscription they make on any SHRA e-learning programmes.

The S-Coin can then be redeemed at any Senheng and senQ outlets nationwide.

For more details, head on over to Senheng’s official website, Facebook page or download the Senheng app at your mobile app store.

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:36 | Report Abuse

senQ
https://www.senq.com.my › new-ret...
New Retail New Platform Book
Starting from scratch from a small store in 1989, Senheng now has over 100 stores across malaysia with sales

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:36 | Report Abuse

New Retail + New Platform & Digital Journey
New Retail + New Platform & Digital Journey ... Senheng Groups has now become a digital technology company

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:37 | Report Abuse

ir.senheng.com
https://ir.senheng.com › Senh...PDF
Senheng New Retail Bhd

EFA Platform. INITIATION. Shariah. Compliant. ESG. Analysis. Table. Inside.

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:37 | Report Abuse

ir.senheng.com

Senheng New Retail Bhd

EFA Platform. INITIATION. Shariah. Compliant. ESG. Analysis. Table. Inside.

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:39 | Report Abuse


carousell.com.my
https://www.carousell.com.my › sen...
SENHENG New Retail New Platform Book
17 Jan 2023 — Buy SENHENG New Retail New Platform Book in Kuala Lumpur,Malaysia. Preloved Book SENHENG New Retail New Platform Book Get great deals on ...
5.0
(85) · RM 19.00

issuu
https://issuu.com › docs › mrca_cov...
Senheng Leads Digitalisation in Consumer Electronics Industry in ...
Senheng trailblazes with New Retail Solution – the ultimate retail ecosystem, creating synergy between processes and

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:39 | Report Abuse


caro

issuu
https://issuu.com › docs › mrca_cov...
Senheng Leads Digitalisation in Consumer Electronics Industry in ...
Senheng trailblazes with New Retail Solution – the ultimate retail ecosystem, creating synergy between processes and

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:41 | Report Abuse

Looking to expand and improve your... - SENHENG Malaysia
Looking to expand and improve your retail business? Learn from Malaysia's largest electrical retail store where Founder and Managing Director Mr. Lim Kim He...

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:43 | Report Abuse

Appier
https://www.appier.com › senheng
Senheng
Senheng partnered with Appier to transform its approach to targeting its online and offline shoppers. With AI solutions designed to predict and generate ...

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:43 | Report Abuse

The Malaysian Reserve
https://themalaysianreserve.com › se...
Senheng allocates RM74.3m of capex for expansion, warehouse
27 Jun 2022 — Senheng New Retail Bhd has allocated a total capital expenditure (capex) of RM74.3 million this year to

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:44 | Report Abuse


The Sun Daily
www.thesundaily.my
Senheng New Retail to raise RM267.5m from IPO
29 Dec 2021 — “Our customers are increasingly purchasing from our online platforms due to the additional

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:45 | Report Abuse


S Ecosystem
https://seco.com.my › about-us
S Ecosystem (M) Sdn. Bhd. 202101020130 (142043-D) | About US
1. Enhance RFM 2. Increase new database 3. Increase sales revenue · What is Senheng App? Senheng App is

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:45 | Report Abuse


Alibaba Cloud
https://www.alibabacloud.com › sen...
Senheng
Utilizing Alibaba Cloud's retail solution Terminus, Senheng aims to streamline its business operations across both online

Good123

24,555 posts

Posted by Good123 > 2023-01-27 16:46 | Report Abuse

TAR UC
https://www.tarc.edu.my › dsaPDF
SENHENG SCHOLARSHIP
1 Aug 2022 — In Senheng's next leap forward, we are leveraging our new Senheng App to embark on a platform

Good123

24,555 posts

Posted by Good123 > 2023-01-29 11:17 | Report Abuse

Menarik transformasi perniagaan yang dilakukan… yang nak mula bisnes atau expend syarikat boleh la follow Senheng.. yang pasti beli barang di sini berbaloi
#mstar221220 #mstarklik22

Good123

24,555 posts

Posted by Good123 > 2023-01-30 08:16 | Report Abuse

Banyak pekerja haram dan pelancong membeli dari senheng ka? :)

https://www.nst.com.my/news/nation/2023/01/874231/immigration-halts-90000-entering-nsttv

Good123

24,555 posts

Posted by Good123 > 2023-01-30 08:36 | Report Abuse

Kian ramai pekerja asing dan pelancong asing, jualan senseng boleh naik semula kot?

Sabar ya!

Good123

24,555 posts

Posted by Good123 > 2023-01-30 09:45 | Report Abuse

Hah, dah berwarna hijau.... Ada peminat dah

Good123

24,555 posts

Posted by Good123 > 2023-01-30 10:00 | Report Abuse

Otw back to rm1.07 ipo price :)

Good123

24,555 posts

Posted by Good123 > 2023-01-30 11:06 | Report Abuse

Bila rebound, surely speedy, fell from rm1.07 to current price 57.5sen :)

Good123

24,555 posts

Posted by Good123 > 2023-01-30 11:07 | Report Abuse

Maybank gives 100% bank value for senheng shares at current price

Good123

24,555 posts

Posted by Good123 > 2023-01-30 11:16 | Report Abuse

businesstoday.com.my
https://www.businesstoday.com.my › ...
Senheng IPO Oversubscribed 10.4 Times - BusinessToday
12 Jan 2022 — Senheng is expected to list on the Main Market of Bursa Malaysia on ... while CIMB Investment Bank Berhad and

Good123

24,555 posts

Posted by Good123 > 2023-01-30 12:20 | Report Abuse

Senh tak pernah rugi .. untung berapa banyak je setiap auku

Good123

24,555 posts

Posted by Good123 > 2023-01-30 12:49 | Report Abuse

SH lagi berbaloi :)


New listings are the hottest item on Bursa Malaysia these days. It is common to see companies that are listed on the ACE Market jump several-fold above their initial public offering (IPO) price soon after listing.

The demand for shares of new listings, especially companies going for the ACE Market, is so huge that all are taken up, including the 12.5% allocated to bumiputera investors approved by the Ministry of Trade and Industry (Miti).

But this was not the case a year ago.

Companies that were listed in 2021 and early 2022 could not fulfil the bumiputera equity portion because the stock market was subdued. The listing was approved on condition that the companies place out the 12.5% block to approved Miti investors one year after achieving the profit requirement for companies seeking a listing on the Main Market.

Or, the company was to place out the shares to approved bumiputera investors within five years of listing on the ACE Market.

In the last one week, two companies that were listed a year ago attempted to fulfil the bumiputera equity conditions. And the reception to the shares was not great.

Coraza Integrated Technology Bhd and Ecomate Holdings Bhd offered their shares to approved bumiputera investors. But the take-up rate was relatively poor compared to new listings.

Coraza was listed in January last year with a market capitalisation of RM120 million. Today, Coraza commands a market capitalisation of RM395 million, which is more than three times its value at IPO.

As for Ecomate, it was listed in late 2021 and valued at RM115.5 million then. Ecomate’s market capitalisation is now at RM250 million, which is more than double the value at IPO.

While the valuations of both companies have jumped significantly, they were not matched by an exponential increase in earnings.

It explains the muted response from bumiputera investors compared to new IPOs.

The bumiputera investors are probably wary of taking up shares in a company that has significantly appreciated in value within a year. Although the shares are offered at a discount to market price, the valuations are probably on the high side.

This is also a signal to those holding shares in newly listed IPOs that have jumped several-fold. They should probably exercise caution.

Good123

24,555 posts

Posted by Good123 > 2023-01-30 13:08 | Report Abuse

Barangkali pekilang besar china akan mengambilalih senheng macam ogawa dulu

Good123

24,555 posts

Posted by Good123 > 2023-01-30 14:30 | Report Abuse

Many china manufacturers are eyeing to senheng to grow by acquisition like what happened to ogawa .. just copy n paste the biz model throughout asean countries

Good123

24,555 posts

Posted by Good123 > 2023-01-30 15:01 | Report Abuse


Active market: A trading gallery of a brokerage in Kuala Lumpur. Bursa Malaysia is expecting 39 companies to launch their IPOs – most of them on the ACE Market – this year to raise proceeds of about RM3bil. — Bloomberg

BURSA Malaysia has been starved of large listings over the last few years. The heydays of many large initial public offerings (IPOs) seem to be over.

This year, the only likely large listing candidate seems to be DXN Holdings Bhd, which is involved in the sales of health and wellness consumer products. It filed its draft prospectus with the Securities Commission in June.

But since then, the company has delayed its listing due to weak market sentiment. It is a 50:50 chance that the company will make it to the market this year.

That is not due to the attractiveness of the company per se but rather dismal investor appetite. Convincing investors to put their money in a large consumer company is not an easy task, especially if valuations are not cheap.

However, if market sentiment does get better, then DXN will likely get more interest from funds in its bid to raise some RM1.8bil from investors.

The company has been reporting some healthy growth numbers and its export-driven business model should also be attractive features along with the healthy cashflows it churns out.

The problem is investors will always be asking if they could instead use their money to buy a cheaper-valued listed company in a similar business or size.

For example, recent large listings on Bursa Malaysia that sold their shares at seemingly high valuations didn’t perform well. They include Swift Haulage Bhd (which got listed in December 2021) and Senheng New Retail Bhd, that went public last January.

These companies were listed at price-earnings multiples of 21.5 times and 28.8 times, respectively. Their share prices were down 49% and 41.7% in 2022, respectively.

The death of large listings has bogged Bursa Malaysia since 2018. In that year, there were no large IPOs. Then in the years following that, there seems to be only one large listing every year.

In 2019, it was poultry giant Leong Hup International Bhd that raised around RM1bil, followed by MR DIY Group (M) Bhd in 2020 (RM1.5bil), CTOS Digital Bhd in 2021 (RM1.2bil) and Farm Fresh Bhd last year, which raised around RM1bil.

Large listings aside, it was IPOs on the ACE Market in 2022 that made the headlines. The 25 companies that got listed on the junior bourse made it a record-breaking year. Most of those counters are also enjoying a decent appreciation of their share prices following their flotations.

So will the ACE Market continue to see such stellar growth? It does look like it, going by what Bursa Malaysia CEO Datuk Muhamad Umar Swift said this week.

He noted that the exchange is expecting 39 companies to launch their IPOs – most of them on the ACE Market – this year to raise proceeds of about RM3bil.

He also noted that there is sufficient liquidity in the market and that the market is “generally strong” but cautioned that for these listings to succeed, it would need to be backed by investor sentiment.

Good123

24,555 posts

Posted by Good123 > 2023-01-30 15:05 | Report Abuse


Date Open Price Target Price Upside/Downside Price Call Firm View
2022-08-29 0.755 0.90 +0.145 (19.21%)
BUY
CIMB

QRujhan

37 posts

Posted by QRujhan > 2023-01-30 15:06 | Report Abuse

Good123. i admire your optimism.

Good123

24,555 posts

Posted by Good123 > 2023-01-30 15:13 | Report Abuse

Instal plan, service/replacement warranty, etc by senheng ... Academy, many more

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