Pensonic banks on new markets


  • Business
  • Thursday, 28 Nov 2013

PENSONIC HOLDING BERHAD'S GROUP MANAGING DIRECTOR DIXON CHEW

GEORGE TOWN: Pensonic Holdings Bhd expects new markets such as Myanmar, Sri Lanka and Vietnam to contribute significantly to the group’s revenue for the 2014 fiscal year.

Pensonic managing director Dixon Chew said these markets helped to boost the contribution from Asia to 19.4% for the 2013 fiscal year ended May 31.

“As two new showrooms had been set up in Myanmar and Sri Lanka in the 2013 fiscal year, we can expect sales in the two places to grow in 2014,” he said. after an AGM.

Pensonic will continue to explore expansion plans and engage new business partners to maintain strong branding and presence in these locations, according to Chew.

“This strategy will allow us to gain better control over brand management and service quality and respond effectively to changing local needs,” Chew added.

On plans for next year, Chew said the group would spend RM20mil to expand the group’s networking, human capital enhancement, and warehouse management activities, on top of the RM30mil that had been invested for the international distribution hub cum design and development centre, which would start operations in 2014.

“We plan to share the strength of our brand name and distribution network with other small and medium enterprises that have strong innovative products to market.

“Some of these new products will be developed under the Pensonic brand, while others will be marketed under different brands,” he added.

For the group’s 2014 fiscal year first quarter, Pensonic posted after tax profit of RM3.9mil on the back of RM105.7mil revenue, compared to RM3.5mil and RM93.9mil achieved in the previous year’s corresponding period.

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