Courier business to drive future growth of Pos Malaysia

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KUALA LUMPUR (Sept 8): Pos Malaysia Bhd expects its courier, express and parcel (CEP) business to drive future growth, as its traditional mail segment continued posting a decline in contribution to its overall operations.

Pos Malaysia's covering group chief executive officer Azlan Shahrim said the group sees the CEP business to be the key growth platform for the company, based on its performance over the past year.

"The CEP segment will be the main driver for the company, going forward. Last financial year, the segment grew 22% year-on-year, and it grew at around the same pace in 1QFY16," Azlan told the media, after the company's annual general meeting today.

Meanwhile, on the overall performance of the group, Azlan said Pos Malaysia is looking to reinvent itself, in a bid to stay relevant in the evolving business landscape.

"Now with the decline in mail volume which is relevant all over the world, how does a 200-year old organisation like us, which has been very dependent on mail delivery, survive into the future?" he said.

Azlan explained that the group has outlined and identified three core areas of focus, namely to be more innovative, customer-centric and encourage a high-performing culture among its staff.

"We need to embrace innovation and improve the way we do things, that's number one. Number two, we need to be more customer-centric. All of our staff need to treat the customers better and make sure they have an enjoyable experience when they step into our offices.

"Thirdly, we need to build a high performance culture in Pos Malaysia. The company must no longer think of itself as a monopoly, as there are many other companies competing in the same space. We have to be more competitive," said Azlan.

At its AGM today, the company saw all eight of its resolutions passed, which includes the proposed first and final single tier dividend of 13.1 sen per share for the financial year ended March 31, 2015.

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