Listed on Bursa Malaysia in September 2001, Pos Malaysia Berhad is Malaysia’s national postal service provider with a network of more than 3,500 touchpoints and 250 self-service terminals — the largest in the country.
However, the structural decline in traditional mail volume, coupled with high fixed costs relating to the universal service obligation of postal mail services, have dragged Pos Malaysia profits down, reporting its biggest-ever net loss of RM165.7 million for the financial year ended 31 March 2019 (FY2019).
I attended Pos Malaysia’s 2019 AGM to learn more about management’s strategies to mitigate these issues:
1. Revenue fell 4.8% from RM2.5 billion in FY2018 to RM2.4 billion in FY2019. Pos Malaysia recorded a loss before tax and zakat of RM158.4 million in FY2019 compared with a profit before tax and zakat of RM117.3 million in FY2018. The deterioration in performance was mainly due to an impairment in goodwill, a