KUALA LUMPUR: Pensonic Holdings Bhd (PHB) is poised for a brighter future after recently implementing new digital initiatives and a transformation strategy.
With a renewed focus on innovation, PHB is preparing to launch a range of new home appliances designed to meet the needs of modern households.
Group CEO Datuk Dixon Chew Chuon Jin said: “We are confident that PHB’s transformation will resonate with today’s consumers, particularly as Malaysia’s household consumption remains the key driver of economic growth.
“Consumer spending in Malaysia is projected to grow by 4.2% in 2024, driven by rising disposable incomes and increasing demand for smart, energy-efficient home appliances,“ he said.
Under Chew’s leadership, PHB has focused on restructuring its operations to drive long-term shareholder value.
Chew has also been crucial in streamlining the company’s operations since taking over in November 2023.
He has reduced costs and improved overall productivity while driving the company’s product development strategy forward.
His leadership has steered the company towards modern strategies and operational excellence, positioning PHB to thrive in the digital age.
PHB conducted an inventory write-down of RM6 million during the last quarter of its financial year, which ended May 31, 2024, to position itself for future growth.
This strategic decision was made after considering historical sales trends, inventory ageing, and product life cycles.
The ‘kitchen-sinking’ approach, which aims to make the balance sheet healthier, is expected to prepare the company for a stronger financial future.
The company’s current net tangible asset (NTA) stands at RM1.06 per share, significantly above its current price of RM0.50.
As part of its digital transformation, PHB has partnered with popular social media influencers, particularly on TikTok.
These influencers, collectively known as ‘Pensonic Friends,‘ will help PHB engage with younger, tech-savvy consumers.
This initiative marks an essential step in leveraging digital marketing to reignite PHB’s brand presence across Malaysia.
“PHB is well-positioned to meet these evolving needs. Our strategic focus on product innovation and digital engagement ensures that we remain relevant to modern households while continuing to deliver the quality and trust that PHB is known for,“ Chew added.
Research has shown that digital marketing, especially through platforms like TikTok, can significantly boost brand awareness and drive consumer engagement.
This makes it a key pillar of PHB’s strategy to expand its market share in the household appliance industry.
Despite economic uncertainties and cautious consumer sentiment in Malaysia, PHB is confident about the future.
With consumer spending slowly recovering and demand for energy-efficient, smart home appliances on the rise, PHB’s innovative product offerings are well-positioned to capitalise on these trends.
https://thesun.my/business-news/jg-pensanik-JG13040090
Media: The Sun
