Pos Malaysia slips into the red

In a statement, Pos Malaysia group CEO Syed Najib Syed Md Noor said the loss in the first quarter was due to the continuing decline in mail volume (down 18% year-on-year) coupled with the high costs to serve the universal service obligation.

PETALING JAYA: Pos Malaysia Bhd slipped into a net loss of RM15.1mil for the first quarter ended June 30,2019, due to weak postal and services results.

This compared with a net profit of RM4.98mil for the corresponding period last year.