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HOME-GROWN manufacturer and distributor of electrical home appliances Pensonic Holdings Bhd is poised for a brighter future with the recent implementation of new digital initiatives and a transformation strategy under the leadership of CEO Datuk Dixon Chew Chuon Jin.
Since Chew took the helm in November 2023, the Main Market-listed household name has been focusing on restructuring its operations to drive long-term value for its shareholders.
His leadership has steered the company towards modern strategies and operational excellence, thus 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 to pivot towards modern strategies to thrive in the digital age. Its NTA (net tangible asset) now stands at RM1.06/share which is significantly above its current share price of 50 sen.
To position itself for future growth, Pensonic has conducted an inventory write-down of RM6 mil 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. This “kitchen-sinking” approach which is 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.
In this regard, Chew has played a crucial role in streamlining the company’s operations, reducing costs and improving overall productivity while driving the group’s product development strategy forward.
“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,” commented Chew.
“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.
Collectively known as “Pensonic Friends”, these influencers will help Pensonic engage with the younger tech-savvy consumers. This initiative marks an essential step in leveraging digital marketing to reignite Pensonic’s brand presence across Malaysia.
“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,” envisages Chew.
“Research has shown that digital marketing, especially through platforms like TikTok can significantly boost brand awareness and drive consumer engagement, thus making it a key pillar of Pensonic’s strategy to expand its market share in the household appliance industry.”
At 2.43pm, Pensonic was up 5 sen or 11.36% to 49 sen with 20,000 shares traded, thus valuing the company at RM77 mil. – Sept 25, 2024
Media: Focus Malaysia
