Post Malaysia to carry on strong momentum seen in Q3 FY20

KUALA LUMPUR, April 30  -- Pos Malaysia Bhd is focusing on continuing the good momentum seen in the third quarter of financial year 2020 (Q3 FY20).

Chief executive officer Syed Md Najib Syed Md Noor said at its peak in April 2020, the postal delivery firm recorded 13 million parcels, the highest volume ever accepted in history.

"We had close to 1,400 crowdsourced riders to support our 3,000 courier delivery personnel, including headquarter employees and postmen who also assisted in parcel deliveries," he said in the Pos Malaysia Annual Report 2020.

Syed Md Najib said the rise of online shopping increased demand for courier services and significantly boosted Pos Malaysa’s revenues in Q2 and Q3 FY20.

"After the first wave of the pandemic came under control and businesses reopened, segments that were initially impacted by the Movement Control Order (MCO) saw an immediate recovery.

"The mail tariff increase that took place on Feb 1, 2020 also provided a significant lift to our top line figures, amounting to an additional RM150 million in revenue for FY20," he said.

Pos Malaysia also registered two months of operational profitability in June and July last year.

In addition, courier operations are back to normal, allowing Pos Malaysia to win back lost market share in the e-commerce segment.

"We will continue to scale up our parcel delivery network and further leverage automation.

"We aim to accelerate our digitalisation of retail services, while we rationalise our postal touchpoints and processing centres, transforming our Information and communications technology infrastructure and applications," he added.

Meanwhile, Pos Aviation will continue to be prudent in managing costs, while Pos Logistics will proceed with its transformation initiatives by scaling down haulage operations, growing automotive logistics while improving its service quality and reliability.

"Our logistics segment should benefit from the government’s extension of the sales tax exemption on cars until June 2021," he noted.

-- BERNAMA