KUALA LUMPUR: Senheng Electric (KL) Sdn Bhd is doubling down on customer loyalty and value creation as it marks its 36th anniversary, unveiling stronger reward mechanics, expanded cashback offerings and hints of a major technology-driven retail revamp set for early 2026.
The retailer, one of Malaysia’s largest consumer electronics chains, announced significant growth across its S-Coin loyalty ecosystem between 2024 and 2025, signalling rising consumer appetite for flexible, high-impact reward systems despite a challenging retail backdrop.
According to the company, S-Coin issuance jumped 83% year-on-year, while overall redemptions surged 106%. The average redemption value per PlusOne member climbed from RM270 to RM471, an increase of nearly 75%.
“These numbers tell us that Malaysians value flexibility and choice when it comes to rewards,” said Senheng managing director KH Lim. “The strong momentum of S-Coin shows that customers stay engaged when you give them options that actually matter.”
He was speaking at a media briefing today in conjunction with Senheng’s 36th anniversary this year.
Under its “My Rewards, My Choice” framework, Senheng continues to position the S-Coin loop as the centrepiece of its loyalty strategy. Customers earn the digital currency when buying selected items in-store or through the Senheng App and can redeem S-Coin for more than 2,400 items across categories such as accessories, lifestyle products, gadgets and home essentials.
Lim said the company plans to widen earning opportunities and grow participation within the ecosystem. The retailer is also currently trialling its S-Affiliate (SAT) programme designed to allow members to earn commission by promoting Senheng products among internal staff.
“We’re still on a test run with employees. About 1,500 staff have registered so far,” Lim said.
“The system must be stable, able to calculate commissions and pay out correctly. Once that is solid, we’ll open it to customers. Our aim is to recruit 10,000 agents nationwide.”
To further drive engagement, Senheng has expanded its Untung Gila cashback campaign, now offering three cashback tiers, 50%, 70% and up to 100% S-Coin.
“In this campaign, you spend RM10,000 and you get RM8,000. Even with Samsung phones or laptops, you get 50% cashback,” Lim said. “It’s very hard to believe, but it’s real.”
Looking to 2026, he acknowledged the broader retail environment remains difficult.
“Retail trends are tough. Revenue may sustain, but productivity is squeezed by high operating costs,” he said. “Because of this, everyone is trying to introduce new mechanisms to stay competitive.”
Despite cost pressures, Lim said, Senheng plans to continue upgrading store layouts to make outlets “bigger and brighter,” while simultaneously improving digital touchpoints.
When asked whether S-Coin could eventually evolve into a cryptocurrency-like asset, Lim said he would not rule out the possibility.
