Pos Malaysia eyes better Q2 results

KUALA LUMPUR: Pos Malaysia Bhd expects to stage a better performance in the second quarter of its current financial year from that of the previous corresponding period.

"We expect the second quarter to be good. It will be better than the second quarter of last year. With the transformation programme initiatives, we will record better operating profit for the second quarter," said group managing director/chief executive officer Datuk Syed Faisal Albar.

Faisal said, the transformation programme which was implemented last year, saw the company's revenue breaching RM1 billion mark for 2010.

He added that the first quarter of 2011 was a record breaking quarter when Pos Malaysia turned in RM51 million for its profit from operations.

"These are the results of the transformation programme," he said at the signing of a Statement of Cooperation (SOC) between Mos Malaysia and Korea Post for bilateral cooperation towards the enhancement of the postal services between the two countries.

According to him, Pos Malaysia had implemented six of the 39 identified initiatives of the transformation programme that focused on the areas of strengthening the postal services. The company is in the midst of implementing the other 33 initiatives, he said.

Under the transformation programme, he said, the company would improve the efficiency of its mail processing centre where it might buy new machines or consolidate its 29 factories to only nine.

"We also have a new shareholder now, DRB-Hicom Bhd which is represented in our board. They said that they have ideas on how to strengthen the company's activities. Our new chairman (Datuk Seri Mohd Kamil Jamil), appointed effective today, is the group managing director of DRB-Hicom. So, we can identify the ideas," he said.

On the agreement inked today, Syed Faisal said that it focused on IT, whereby Pos Malaysia had to invest a certain amount to acquire the expertise of Korea Post in that area.

With the SOC, the two postal organisations envisage a more dynamic role in improving their quality of services and will support cooperation on the areas which include the promotion and service improvement for Expedited Mail Services (EMS), e-commerce development between both postal organisations, development of new postal services, and modernisation of postal infrastructure and development of postal information and technologies (Postal IT).

President of Korea Post Myong-ryong KIM said apart from that, his
organisation would also look at some other areas for cooperation. - Bernama