Pos Malaysia rises on higher rates

Posting results: Pos Malaysia workers sorting out parcels. The national postal service provider’s share price inched up on its first commercial postage rate hike in ten years.

PETALING JAYA: Pos Malaysia Bhd shares ended higher on Wednesday, after the company raised commercial postage rates for the first time in ten years.

Despite ending the day 2.78% higher to RM1.48 yesterday, some analysts feel that the new rate hike would only provide a short-term reprieve to the national postal service provider.