Pos Malaysia Sets Capex

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POS Malaysia Bd has set aside more than RM150 million in capital expenditure for its financial year ending March 31 2015 to further improve its services. Some areas of improvement include an initiative to introduce a 24-hour parcel lockers due to complaints of undelivered parcels.
“We are planning to introduce parcel lockers that are operational 24 hours a day in strategic locations, such as shopping malls and post offices,” said chief executive officer Datuk Iskandar Mizal Mahmood after its 22nd annual general meeting, here, yesterday. Other initiatives include the upgrading of its offices and information and communications technology infrastructure, and purchase of motor vehicles, which may be finalised by the end of the year.
The company foresees a double- digit growth in profit and revenue for its growing courier business. Pos Malaysia posted a record RM1.43 billion in revenue for the financial year ended March 312014, which was 12.4 per cent higher that previously. Factors for the rise include improvements in courier and international operations, productivity, and cost control as a result of its transformation exercise.
He said that its online business has grown 30 per cent in volume and 20 per cent in revenue this year. “China alone has US$200 billion (RM636 billion) worth of online transactions with at least 600 million items,” Iskandar said.