Still challenging for Pos Malaysia

Controlled by DRB-Hicom Bhd, Pos Malaysia sank deeper into the red in Q2 of FY21 due to impairment of property, plant and equipment at its postal division, as well as higher transportation and delivery costs incurred.

PETALING JAYA: It is going to remain challenging for Pos Malaysia Bhd for some time as the Covid-19 pandemic continues to unfold.

Hong Leong Investment Bank (HLIB) in a report yesterday said the postal firm’s operating environment continued to be challenging as it is hampered by fast-shrinking snail mail volumes and the weak aviation segment during the pandemic.