Senheng Electric Opens First Outlet In Sabah
29 April, 2006
KOTA KINABALU: Senheng Electric (KL) Sdn Bhd plans to open 10 more outlets in Sabah over the next three years.
Present , the company has 80 outlets comprising 16 senQ Digital Stations and 64 Senheng stores throughout the country.
Disclosing this, its managing director Lim Kim Heng said the company is planning to invest about RM20 million to set up another 10 outlets which would be a hybrid of the two kinds of megastores in selected areas.
The plan to build more stores here in Sabah as we want to give new shopping experiences and more choices of electronic products to the locals here.
Out of the 10 proposed outlets, five will be built in the State capital to cater to the consumers market share here while the rest will be in selected major towns, he said.
Heng said this to reporters after the opening of its 16th new concept megastore, senQ Digital Station at Karamunsing Complex here on Friday.
Deputy Chief Minister cum Minister of Tourism, Culture and Environment, Tan Sri Chong Kah Kiat officially launched the first outlet for the company in East Malaysia. The company spent RM4 million to open the new store here.
Also present were the company two executive directors, Lim Kim Cjieng and Lim Kim Yew, and top management officials of branded goods in the store.
According to Heng, the senQ outlets is bigger with a floor size of 15,000 to 20,000sg ft and suitable for big towns in the State while the Senheng store with a smaller floor size of 4000 to 5000 sq ft is suited for smaller towns,
We are expanding our wings to Sabah as we see the untapped market for our concept stores. We see that the people here like to buy high-end brand products they have no place to buy these as most of the retail businesses are small and provude less comfortable space for consumers.
浅ence, we spotted Karamunsing complex as convenient place for the city dwellers to shop and decided to open the first senQ outlet in the State capital here for East Malaysia, he said.
He also revealed that the company is currently looking for suitable spaces to open such outlets in Sarawak.
On the estimated sales revenue for the newly opened store here in five years, Heng stated that normally its senQ outlets would rake in about RM1.5 million per month and RM18 million in a year.
For the Senheng outlets, he said they are expecting sales to be RM500,000 per month and RM6 million per year.
As for the company旧 annual sales turnover, he said that they are targeting to achieve RM430 million this year. Last year, he said, the company earned RM320 million.