Challenging business: Pos Malaysia is facing a double whammy with the UPU’s rate increases and declining mail volume.
Pos Malaysia Bhd
may be at its lowest ebb. In April, it reported a massive loss of RM165.7mil for its financial year ended March 31,2019 (FY19), which was the first loss since 2008.
A sharp drop in snail mail usage and a big impairment in its logistics arm due to stiff competition were the main reasons. Adding to its woes was the fact that expected tariff hikes did not take place then.
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