PETALING JAYA: Senheng New Retail Bhd continues to evolve its business model, positioning its 4-million-strong PlusOne member loyalty platform as the primary growth engine ahead of the 2026 consumer electronics replacement cycle.
The group reported revenue of RM820.1 million and a net profit of RM6.6 million for the nine months ended Sept 30, 2025 (9M’25), a moderation from RM908.6 million and RM13.5 million, respectively, in 9M’24.
While 9M’25 performance reflects the impact of cautious consumer sentiment, the group prioritised portfolio optimisation and refined its merchandising to focus on higher-margin brand categories.
The strategy drove a gross profit margin expansion to 21.4% in 9M’25 from 20.9% in 9M’24.
Chairman and managing director Lim Kim Heng said FY25 is the year of strengthening the company’s foundation.
“While navigating cautious consumer sentiment for high-value discretionary, we focused on enhancing our ‘Territory Champion’ stores and optimising our product mix to deliver premium experiences.
“We are now positioning Senheng to lead the major consumer electronics replacement cycle anticipated in 2026, driven by the need to upgrade ageing pandemic-era devices and the surge in AI-enabled appliances.
“We are transforming our loyalty ecosystem into a highly attractive rewards platform. Through our upcoming ‘Untung Gila’ campaign and the rollout of S-Coin Redemption Centre Brand Corners, we are evolving S-Coin into a high-value currency that integrates seamlessly into our customers’ daily lifestyles.
“By unlocking unrivalled rewards for our loyal base of 4 million PlusOne members and attracting a new generation of digital-savvy shoppers, we ensure Senheng remains the primary, top-of-mind platform for the future,“ he said in a statement.
With NielsenIQ forecasting a replacement surge for pandemic-era tech devices starting in 2026 and BMI projecting a rebound in Malaysian consumer purchasing power next year, the group is well positioned to capture the incoming wave of high-value demand through its nationwide omnichannel network.
For the third quarte of FY25, group revenue stood at RM272.7 million, with net profit at RM700,000.
This compares to revenue of RM279 million and net profit of RM3.6 million in the corresponding quarter last year, reflecting the broader industry trend of prudent consumer spending on discretionary goods.
Notably, the group expanded its margins due to an improved product portfolio and by refining its merchandising strategy to increase the average basket size per transaction.
The group remains focused on sustaining growth momentum through four strategic pillars: scaling the S-Coin loyalty ecosystem, prioritising a higher-margin product mix, accelerating online-merge-offline channels, and driving data-driven operational efficiency.
