Competition, lower revenue hit Pos Malaysia growth prospects

While Pos Malaysia has plans to mitigate the impact of falling parcel volumes by improving overall parcel yield and reducing transportation costs via productivity improvements, HLIB says “we remain wary over its near-term recovery prospects”.

PETALING JAYA: Pos Malaysia Bhd’s growth prospects remain uncertain as its conventional mail business continues to struggle to stay relevant amid fierce competition in the local courier service sector, analysts say.

On Monday, the group posted a narrower net loss of RM33.63mil in the third quarter of its financial year 2022 (3Q22) on the back of lower revenue of RM492mil.