KUALA LUMPUR: Consumer electrical and electronics (E&E) retailer Senheng New Retail Bhd has obtained approval from the Securities Commission (SC) to list on the Main Market of Bursa Malaysia.

Senheng executive chairman Lim Kim Heng said as a digitally-forward company, its operations are highly adaptable to challenges in the business environment.

"In fact, we recorded healthy growth in our financial performance despite multiple iterations of the Movement Control Order. This is attributed to our ability to provide uninterrupted service to customers via our integrated e-commerce and telemarketing channels," Senheng executive chairman Lim Kim Heng said in a statement today.

"With the approval from SC to list on Bursa Malaysia, we are now ready to embark on our next phase of growth, and we believe that the IPO (initial public offering) will help us further strengthen our entrenched market position in the consumer E&E industry," Lim added.

Senheng is expected to list in January 2022.

Founded in 1989, Senheng has grown its retail network to 104 stores across Peninsular, Sabah and Sarawak, supported by various online retail platforms.

The company's stores carry more than 280 renowned consumer E&E brands, featuring a comprehensive range of digital gadgets, audio visuals, home appliances and related products.

Senheng has a growing customer base, with over three million PlusOne loyalty members to-date.

Mercury Securities Sdn Bhd is the principal adviser, managing underwriter and joint bookrunner for the IPO exercise, while CIMB Investment Bank Bhd and AmInvestment Bank Bhd are the joint bookrunners and joint underwriters.