Pos Malaysia not discounting investing in Transmile Group

Pos Malaysia & Services Holdings Bhd has said as part of a group revamp it may sell its noncore businesses, such as its 30percent stake in a unit, in exchange for shares in Transmile Group Bhd.

Transmile is an air cargo operator and its biggest client is Pos Malaysia, the national postal company.

However, Pos Malaysia said it hasn’t started negotiations with any parties pending the completion of its internal business review. It didn’t provide further details on the unit that it may sell.

Pos Malaysia was responding to a Saturday newspaper report in the Chinese language daily Nanyang Siang Pau that it plans to sell 30percent of a unit in exchange for a stake in Transmile.