Pos Malaysia Bhd incurred a net loss of RM165.75 million

KUALA LUMPUR: Pos Malaysia Bhd incurred a net loss of RM165.75 million in the financial year ended March 31, 2019 (FY19) — its first annual loss since FY08. Its snail mail segment was the main contributor, besides goodwill impairment.

The postal group’s earnings improved noticeably after a postage tariff was granted in 2010. So, Pos Malaysia is now hoping that the government will soon approve another hike, which it is banking on to stop the bleeding in its traditional mail segment.

Its parent DRB-Hicom Bhd, which holds a 53.5% stake, expressed confidence as recently as last month that Pos Malaysia’s fortunes would be reversed once the government approved the rate hike.

https://www.theedgemarkets.com/article/pos-...re-postage-hike