Bonus for Pos shareholders?

by **Cals** Fri 06 Sep 2013, 08:45

Published: Friday September 6, 2013 MYT 12:00:00 AM
Updated: Friday September 6, 2013 MYT 7:50:29 AM
Bonus for Pos shareholders?
BY CHOONG EN HAN
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Positive: Khamil at the press conference after the company AGM

PETALING JAYA: A special dividend might be on the cards for Pos Malaysia Bhd shareholders as the national postal company explores its options to use its tax credit of RM317mil, which would expire by year-end.
It has been widely speculated since end of last that the special dividend might be 59 sen per share.
“We are trying our very best to ensure that the benefits go back to shareholders. We are looking at all the possibilities.
“I can’t say that it’s going to be a special dividend. We have to look at the amount of money required for our (Pos Malaysia) business expansion,” said chairman Tan Sri Mohd Khamil Jamil after the company’s AGM yesterday.
On possible mergers and acquisitions, he said the company was now in talks with a Middle East postal company.
“Since this is an international contract, there are many intricate issues we have to address,” he said, adding that the company would discuss future plans with new CEO Datuk Iskandar Mizal Mahmood who was appointed two months ago.
Mohd Khamil said the company was also eyeing opportunities within the region.
“What I see arising from the KLIA expansion is that it could become another hub for the logistics business, as right now everyone is concentrating in Singapore. I’m not saying that we are taking away business from Singapore, but we just share some of the things Singapore has,” he said.
He cited Johor’s Port of Tanjung Pelepas as a success story, which has transformed to become the biggest transhipment hub in the country.
On the recent hike in petrol prices, he said the company’s operating expenses would definitely be higher.
The company have been struggling to contain its staff costs which represents 61.4% of its total operating expenses due to the implementation on the minimum wage and a five-day working week for postal workers.
On top of that, Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek is calling for another revision of wages of postal workers to be in tandem with current economic conditions.
“We have about 16,500 personnel, and staff costs is a main issue as our operations are not automated totally, and we need human capital.
“We will be looking at the cost of living of out staff, and also the costs for Pos Malaysia before we come up with a total review of the company’s overheads,” Khamil said.
Meanwhile, Iskandar said the company would intensify the implementation of its five-year transformation plan, with further resources allocated for human capital development.
“We are also targeting to set up 100 outlets to provide the Ar-Rahnu pawnbroking business by the end of our financial year ending March 31. Right now, we have already about 70 outlets ready with the service,” he said..