$SENHENG (5305.MY)$ Since its IPO in early 2022, it has been...

$SENHENG (5305.MY)$ Since its IPO in early 2022, it has been performing badly in terms of its financials and cash flow. Its operating expenses are at RM60mil/quarter and its management team salaries are high. It is showing 7 consecutive quarters of Y-O-Y contraction of earnings. It is operating in a competitive environment with players like Harvey Norman, TBM, ESH, other marketplaces and all its strategies, be it, territory champion, Online Merge Offline customer service are unworkable. It should just cut the unnecessary costs by closing-down the underperforming outlets and management team. Its management team is pretty USELESS with "stone age" strategies in mind
It is the worst performing Malaysia's IPO in recent years. It is an obvious case of cash-out by the major shareholders. No wonder the share price is already at 80% contraction