Pos Malaysia registers biggest-ever net loss

PETALING JAYA: Pos Malaysia Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

recorded a net loss of RM165.7mil for the financial year ended March 31, 2019 – its biggest-ever loss for a full year.

The group had reported a net profit of RM93.25mil during the preceding year.

Pos Malaysia said the net loss was attributed mainly to widening losses from mail and impairment charges of RM39.6mil from the loss of goodwill in Pos Logistics.

“The losses from mail is a result of a continuing double-digit contraction in mail volume and bill payments, reflecting the increasing substitution of letters with electronic media.

“The impairment of goodwill in Pos Logistics is a result of a performance that was below expectations due to competitive market conditions,“ the group said in a statement.

Pos Malaysia’s group CEO, Syed Najib Syed Md Noor, said the loss was a result of the continuing decline in mail volume (13% year-on-year), coupled with high costs related to serving the Universal Service Obligation.

“We are working closely with the regulator for an overall tariff rebalancing to update the tariff that was last changed in 2010 accordingly to reflect the growing costs to serve the nation with an increase of 17% new postal addresses.

“We expect a positive outcome from the regulators on the tariff rebalancing,” he said.

He added that the goodwill impairment for Pos Logistics was due to increasing competition, which has resulted in poor performance.

“This impairment is a one-off expense,” he said.

During the period, the group also recorded a lower revenue of RM2.3bil, representing a decrease of 4.8%.

The lower revenue, the group said, was mainly due to reduced income from the logistics segment, which the group said was on the back of the completion of its project related to the Refinery and Petrochemical Integrated Development project in Pengerang.

The postal services segment also registered a lower revenue of RM697.6mil, as compared to RM734.3mil previously, due to “accelerating decline in traditional mail volume, largely due to electronic substitution”.

Another segment that saw a significant drop in revenue was the international segment, which saw revenue fall by RM13.2mil on the back of lower volume in transshipment, following the loss of a major customer account.

During the fourth quarter, Pos Malaysia recorded a net loss of RM141.1mil, while revenue also came in lower at RM594.7mil.

Moving forward, the group said its business outlook remained generally challenging.

“One major challenge is the continuing contraction in mail volume, as business enterprises are increasingly communicating with their customers via electronic and digital channels, foregoing mail-based communications,” it said.Syed Najib said, however, that Pos Malaysia would be making significant investments into digital transformation and expanding its capabilities to serve the growing demand for e-commerce.

“The outlook for e-commerce and Pos Malaysia over the next few years is very promising.

“We are looking at the double-digit growth to continue, as more and more people shop online in Malaysia,” he said.

Via ongoing investments, he said the foundation would be set for Pos Malaysia to expand its business with the best infrastructure and solutions to serve the market.

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Woi... so free ka?

pecat dia punya ceo

must do like him nowadays..

better that way.

want net income rm 15-20k like me?

go klang valley find raw material.
upah outsource company.
pay google AdWords 1500 a month.
go pej pos pos product.

no worker.

This post has been edited by ikankering: May 28 2019, 03:16 PM

must viral it , pos malaysia monopolize malaysia market but still suffer in loss
and posman earning like this , obviously orang atas squeezing orang bawahan salary

CEO sape?

owait...

My bangla basic salary also RM2.2k-RM2.4k, sometime with OT/allowance can go up to RM5-6k++

22 years doing the same meaningless job will get you nothing.

If all unskilled workers want high pay that will cause terrible inflation.

Work for courier co better pay?

This, their services also upcar despite not exactly cheap.

They are more often than not understaffed, especially the delivery boys. Every time my item reached the branch, they need process few days. Then deliver another few days.

spoonfeed me pls

Walao eh. U should open a thread on this. Lots of ppl will butthurt

somemore 2015 till now E Commerce Boosting period ,
Pos Laju still making loss ? really omg to them

PosMalaysia monopolize whole rural area market somemore

Maybe co got plans to invest in drones, tats why cut manpower 1st..... owai..

U guys know pos malaysia is private company right? There is only so much the minister can do regarding salaries n performance bonus in private companies.

Banyak senang si Hakimi tu..

Lazyass can't be choosy

This one very special skill issit ??

Bekas menteri penasihat Najib dapat gaji RM200,000
12 Jun 2018
https://forum.lowyat.net/topic/4599880

I dont want to say this.. but are u retarded?

Even though he does not have the skill, but as long as he is in service and doing his job well, is there NEAR ZERO possibility to give a raise to his salary?

Fucking 22 YEARS working EXP, even Toilet Cleaner in Singapore have better salary than this person. Is that how you think as manager?

I hope you will never become a manager in the future!

Now ppl do email, mail is dinasour liao... sunset biz

teach me masta.

tukar food delivery lor

tulah, pandai pandai la

basic posmen, part time food panda, lazada and etc.

kayo ~~~~ sumtimes can also jual ice cream if your poscycle got the peti behind

Still got free hostel stay, every one got own private room. Every 2-3 years they balik bangla once, company help pay 50% of air ticket, sometime boss mood good then pay all.

KNS that day summore complaint to me say salary very low, say their friend(bangla) nearby all getting higher salary thn them

blame DAP bayar gaji kurang ...

What is biro angkasa

/k expectation: tongkat goyang kaki
Reality: 2k per month plus bonus peanut. Need to work during banjir.

Biasa la
Btw, they not a monoply
N their service suck sometimes

I got 1 document which dated 13 May n need to be processed by 2 weeks times... n I received that document by 23 May...

Hopefully still can make it...

Loan but its deduct by middle agency so call Biro Angkasa

What has experience in this sector got to do with anything? What additional benefit is he bringing to the company based on his experience?

As an employer this is the way we see things. It's not charity. Why pay an old man higher salary when young energetic ones are more capable and want less?

That's the problem with you people. No iniative to learn. Stagnant in life and expect charity.

Not racing la but I noticed those companies with mostly 1 race staff as majority ... seldom do well...

Situ. Teach me

Bos buat cermin mata weekend ni sempat siap sebelum raya tak?

Current owner Pos Malaysia is Drb-hicom

Drb--hicom top management gg

Why? You do know nothing, with salary raise he can be more productive doing his job and not becoming a thief because of the low salary. Its a reward / motivation to become a good employees.

High does not mean you gave the person salary till it become 20k etc etc. Just enough la fix increment 100 per year, by 22 years its only become 2200 + 1800 = only 4k salary. That is big for you????????

No u just giving excuses to get more profit to urself and not society

sempat , come , i give u poslaju super laju service

bangla salary more than 2k lar,... if got a lot of OT,.. they can get 4-5k,..

It's a low level work and it always have. Doesn't mean if you work there 100 years your salary will be adjusted to RM20K.

The salary ceiling for that post, or any post, will always be there. No one will have a sapu lantai post for high pay.

It will be up to the person who work that to find another job to upgrade himself. Remember POS malaysia, or any other organization is not a charity entity.

What's with all these entitled mentality??!!

dafaq kelab sukan rm5

So you want charity?
You blame your lack of motivation and complacency as a an excuse to commit crimes?

Unnecessary increments to an unskilled worker only creates inflation and no benefit to any organisation.

Why so kepoh with the postman's salary? Nobody force the postman to do the job, if he is not happy with the salary, why he still work for 22 years as postman and not get another job?

kek..
dont complain, u appoint useless top management, u get pay like monkey.
some more olang kitoh

Work as grab rider deliver makanan also better

+1

+1.. if kenot tahan then jump ship, find other company. U can't force your boss to give you more salary..unless you r really someone important to the company. Boss only see profit, not doing charity.. boss mindset will be like, u don't like here, u can leave, still got other poor ppl that need this job.

This is DRB Hicom CEO, Syed Faisal Albar
https://www.bloomberg.com/research/stocks/p...-HICOM%20Berhad

Compensation for Fiscal Year 2018:
USD $3,729,760 (source: Bloomberg).

Salary >RM1M a month.

Posman dapat RM2k.

But yes, Cina rasis / DAPig is the reason why Bumi is so poor or uneducated.

i said it before and i'm going to say it again
POS malaysia is making so much money yet failed to invest in extra infra and hiring more staff or give staff the raise they deserved

i'm not sure where all that excess money went to

When Malaysian become the boss normally the workers' salary will become very low, except those who got linked. I saw a TNB manager from a very small town in Terengganu, basic salary RM18k during 1999. Of cause, this cannot compare to those cronies who hold the directorship, just put a name there and collect money. Rocket and Blue eye had posted before TDM's son directorship, 2 A4 pages also cannot finished. All are legal income but not sure if legal to got the position or not but who cares.

Don't blame gaji low, because you are the one who trust the politicians.

22years lol.. loyal

baffles me why he stayed for 22 years. I dont think this is full story. could be working hours is 8-2 after that go do something else ?

I have a friend who have the same problem. staying in rimbayu
apparently the delivery is under poslaju banting

every out of 10 delivery 6 sure late more than a week

reason given=not enough staff

kenot challege this fella yet

rm200K salary per day

http://www.utusan.com.my/bisnes/korporat/s...etahun-1.712506

Shahril perjelas isu gaji RM200,000 sehari, RM84.24 j setahun

KUALA LUMPUR 19 Julai – Sebahagian daripada gaji besar yang diterima Presiden dan Ketua Pegawai Eksekutif Sapura Energy Bhd., Tan Sri Shahril Shamsudin menimbulkan tanda tanya mengenai perjanjian saham yang dimilikinya dengan institusi kewangan ketika syarikat minyak dan gas itu membiayai semula pinjaman bernilai RM14 bilion.

Bercakap kepada akhbar The Edge Financial Daily, Shahril mengesahkan kewujudan perjanjian berkenaan dan ia menjadi sebab bagi pakej imbuhannya yang tinggi.

“Ya kami telah menerangkan perkara ini dalam mesyuarat agung tahunan (AGM). Memang benar sebahagian daripada pakej imbuhan tersebut adalah bagi perjanjian saham yang te­lah mengunci saham milik saya dalam Sapura Energy.

meaningless or not, they're working for u to help u make money
even a minimum RM100 raise per year already add up to RM2200 on top of his original salary when he start
during the boom of e-commerce, pos made alot of money yet refuse to invest any of those money

Why should I give 4K for 1 fella when I can give 2K for 2 fella. That would double the speed of parcel delivery.

See the logic here, when running a business the strive is for efficiency. Again, like I say, this is not a charity organization.

+1

summore if 22 years working if the staff is good surely the company will take him as management staff

Right. A postman with 22 years experience deserves RM4k salary. One with 40 years experience gets 6K salary. Let's all be postmen. You have no experience running a business do you?

Charity? Oh wow ...

There are many thing i could say about the benefit of raising a salary that gave benefit to not just your current workplace / organisation but to the economy as a whole

but scratch that.. u will always gave excuses

if u run business like what you're saying right now, nobody will be loyal to u
and you're gonna waste alot of time and money in hiring new people and training new people every year
your efficiency rate is very low each year
out of 12 month, how many months spend on hiring people...how many months job training, how many months actual work??

looks like you're the one who doesn't know how to run business

This post has been edited by MR_alien: May 28 2019, 04:00 PM

this ^

berak tak kaluar pun DAP salah

Huehuehuehuehue

Why caruman epf majikan portion so high?



This post has been edited by Thor1989: May 28 2019, 04:07 PM

This should go back to POS higher management and see where the fakap is.

Don't they have any monthly meeting and see the trending chart and act accordingly??

Attrition rate for unskilled positions are not as bad as you think. These people are complacent. They're here to stay. And loyalty in these positions are meaningless. Training is minimal as it's an unskilled position.

The salary scale is absolute shit here.
You havent compare with diploma/degree/master.
As long as you are kuli - your pay is nothing.
You are working for the company so the boss can stay in bungalow and drive mers.

On top that - your spending power is terrible due to MYR.

Last time many macai said - MYR weak good for export and malaysian not spending oversea. But they conveniently forgot many items we bought today are imported.

Unless you want hidup serba kekurangan - then yes weak MYR is good for your boss to export.

Sure its logic, by your logic too the 2 person that you hired can also songlap your delivery and co-operate to do crime because of the low salary and eventually making your company LOSS just like what POS LAJU did. They lost money because POSLaju workers did not do their job well with no motivation always late sending ur delivery and so on so on and on

You see thats why POSLaju making a LOSS in the Industry

Worker do bad thing, bad image to the POS itself, while other private entity making profit of course i do think thats all because the top management gave shit on the worker salary and benefit..

Sapura- lost making

one month salary almost 6mil

Bcoz no budget to hire staff.

No budget bcoz use tonoay fat guy finished degree to sit in office.

Bcoz need pay top mgmt 1m bonus per year n 30k + all kind allowance coz they important to co survival

Posmen?? Pfft...can pick from roadside anytime

the posmen can reject the salary and go other place to work since work so long only 2.4k, better learn how to drive lorry, especially those kontena driver, anytime can make 5-6k a month

Not talking about the posmen but generally wage should be increase each year as such product, service each year also do have increment so why not wages too?

Manager become too greedy and that is the downfall of the organization itself.

topkek, if everyday drive motor and deliver parcels and letters, salari can reach 5k-6k. nobody want to study degree already la.
22 years of experience drive motor and deliver parcel ?

every year increment rm100 for something a fresh SPM guy who can learn up and do in few weeks ?

i hope u open a company, so u can hire everyone. sure fire profit yo.

go read about inflation before talking about yearly increments of rm 100 for everyone.
not all services increase in price every year.
its about sourcing for cheaper and better things and improving the system.
use less, generate more.

Some companies give higher than the standard 11%.

Up to 18% (possibly for long service award).

Nevertheless for this poor bugger, RM500 a month ain't gonna last him long.

If it was my company, of course lah i assign him to do better job than that as his salary already increase.

Thats what i do lor.... dont be so narrow minded , that POSLaju problem missmanagement already and just like you all.. lmao

This is a classic example why Malaysia is still so backwards. Cannot do something, blame others that did well and no kasi chance.

By your logic, anyone I hire is a thief and by an extension to that, anyone with low salary is a dishonest criminal.

Also, is there any guarentee, anyone who serves very long in an organization won't be a thief?

You are wrong. TDM's son got more than billion RM. This tan sri need to work at least 30 years without spending a single cent in order to achieve that level.

You kidding?

Amazon delivery driver salary is USD $18-25 / hr.

See source here: https://flex.amazon.com/

Lazada express or Ninjavan can make salary >RM 4k a month. I have close family in this business so I know.

Only shitty companies with inefficient cost structures or heavily overcompensate their top management result in this situation.

Govt should lock top executive compensation to median working income. So the CEO compensation can only be max say 20X of the median worker salary.

So median salary RM2k, max CEO salary RM40k/mth.
Median salary 5k, max CEO salary RM100k.

if 1 raise, other sure raise. Mgmt no choice but to raise price. So ultimately, customer pay for the salary. Like that better dont raise, consider jump field instead if cannot promote.

Last week encounter abang posmen

that rm100 is just an example, if you consider starting salary rm900 pun, in 22 years just increase to 1800? rm40 per year only increment kinda stupid... that is WHY POSLAJU loss, did u not read that? Mismanagement by company that does not value the workers will not stay long in the industry

so are you ok if posmalaysia increase charges every year to pay more to posman? tnb to increase tariff every year to pay more to their employees? mamak stalls increase roti canai price every year to pay more to their workers? 99 speedmart increase price every year to pay more to their staffs?

Who cares about TDMs son?

These guys got paid millions when their company is losing money.

If Madeys son company made billions and paid him millions, that's still a different story than company lost money but pay big boss millions.

Sooner or later when there is robots
these guys will be even worse off.

My suggestion is that any logic can be said , and i dont deny anything about your logic coz everyone here can also make the same logic argument

funny thing happen with my letter from Uni (they use standard pos)

uni sent out the letter in January (early)

I receive the letter in March

some more its from Ngori to KL only

but their poslaju quite good

Well, it happen but did u see the workers do have higher salary than before? Even mamak stall increase price but the worker still have the same salary

Lmao ur example

His total force saving is 28% which is not bad.

Those are the one who contribute to the low salary of almost all Malaysians, especially bumi.

hpmh...means orang atas songlaping...sure someone 1 month 800k like that airport staff

What are the higher ups doing for the past 10 odd years? The decline of their business doesn't happen overnite. If every year also notice lesser profits... can't just close both eyes and "hope for miracles to happen".

Irresponsible management caused thousands of lower ranking workers affected.

Pos Malaysia sold by Anwar (the backdoor future PM) to his fren, Phileo Allied for RM1Billion. Later sold and resold...shares up and down, money taken out to finance cronies.Workers paid like shit but better than no job. However cnt compare to bangla as these foreigners do not dream to buy moto besar, kahwin 2 or 3, more kids...they save enough to go home to open biz or even marry locals and open shops and do multiple jobs while orang kite, mahu gaji besar.

uol do realize operators have a salary cap kan
change it to MNC factories, with operators of 22years experience

still got salary cap
annual increment is not a guaranteed thing


22 y.o didn't kena pecat consider lucky already lulz

Reed90 raddus darthboyzzee lopo90