- Pensonic is upbeat about its future prospects NTA of RM1.06 versus its share price of RM0.50
- Strategic inventory write-down of RM6 million enhances financial health, preparing the company for growth
- Focused on launching innovative household appliances to meet evolving customer needs
- New digital marketing initiatives involving influencers and TikTok collaborations to strengthen brand presence
KUALA LUMPUR, 25th SEPTEMBER 2024 –Bursa Malaysia-listed Pensonic Holdings Berhad (“Pensonic” or “the Company”), a leading Malaysian manufacturer and distributor of household electrical appliances, is poised for a brighter future with the recent implementation of new digital initiatives and a transformation strategy under the leadership of Dato’ Dixon Chew Chuon Jin.
Since Dato’ Dixon Chew took the helm in November 2023, Pensonic has been focused on restructuring its operations to drive long-term value for its shareholders. His leadership has steered the company towards modern strategies and operational excellence, positioning Pensonic to thrive in the digital age.
Pensonic, which has a rich history dating back to 1965, is now leveraging its decades-long experience and pivoting toward modern strategies to thrive in the digital age. The company’s NTA stands at RM1.06 per share, significantly above its current share price of RM0.50.
To position itself for future growth, Pensonic conducted an inventory write-down of RM6 million during the last quarter of its financial year ended May 31, 2024. This strategic decision was made after considering historical sales trends, inventory ageing, and product life cycles. The “kitchen-sinking” approach, aimed at making the balance sheet healthier, is expected to prepare the company for a stronger financial future.
With a renewed focus on innovation, Pensonic is preparing to launch a range of new home appliances designed to meet the needs of modern households. Dato’ Dixon Chew has played a crucial role in streamlining the company’s operations, reducing costs, and improving overall productivity, all while driving the company’s product development strategy forward.
Dato’ Dixon Chew Chuon Jin, Group Chief Executive Officer of Pensonic said, “We are confident that Pensonic’s transformation will resonate with today’s consumers, particularly as Malaysia’s household consumption remains a key driver of economic growth. With consumer spending in Malaysia projected to grow by 4.2% in 2024, driven by rising disposable incomes and increasing demand for smart, energy-efficient home appliances.”
As part of its digital transformation, Pensonic has partnered with popular social media influencers, particularly on TikTok. These influencers, collectively known as “Pensonic Friends,” will help Pensonic engage with younger, tech-savvy consumers. This initiative marks an essential step in leveraging digital marketing to reignite Pensonic’s brand presence across Malaysia.
Pensonic 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 Pensonic is known for,” Dato’ Dixon Chew added.
Research has shown that digital marketing, especially through platforms like TikTok, can significantly boost brand awareness and drive consumer engagement, making it a key pillar of Pensonic’s strategy to expand its market share in the household appliance industry.
Despite economic uncertainties and cautious consumer sentiment in Malaysia, Pensonic is confident about the future. With consumer spending slowly recovering and demand for energy-efficient, smart home appliances on the rise, Pensonic’s innovative product offerings are well-positioned to capitalise on these trends.
