Pos M’sia signs cooperation pact with Korea Post

KUALA LUMPUR: Pos Malaysia Bhd signed an inaugural strategic cooperation with Korea Post towards modernising the postal industry mainly focusing on postal information technology (IT) development.

Pos Malaysia group managing director and chief executive officer Datuk Syed Faisal Albar said it was going to acquire Korea Post's expertise in IT solutions soon.

However, discussions are still ongoing on how much Pos Malaysia will need to pay for the expertise.

He also said the company expected to stage better performance for the second quarter this year.

“We expect the second quarter to be better than the second quarter of last year. With the transformation programme initiatives, we will record better operating profit for the second quarter,” he said.

“We may consider consolidating (our resources),” he added, referring to mail-processing factories.

Faisal said the transformation programme, which was implemented last year, saw the company's revenue breaching RM1bil mark for 2010. He added that the first quarter of 2011 was a record-breaking quarter when Pos Malaysia turned in RM51mil profit from operations.