Phileo-Pos seek initiatives to strengthen its postal services
PhileoAllied Bhd, which has proposed to change its name to Pos Malaysia & Services Holdings Bhd, is looking into related initiatives concerning logistics to strengthen its existing postal services business.
The areas to be considered are cargo, distribution and transportation with the view to increase the business for the company, said chairman Tan Sri Halim Ali.
“What we currently have is a profitable postal services business with immense long-term potential, and some further ideas on how we hope to enhance this new core business of ours and embark on related initiatives,” he said.
“Process of planning, process of discussion and so on is ongoing. We see a number of potential areas we can enter into,” he said.
Halim was speaking to reporters after PhileoAllied annual general meeting (AGM) and extra-ordinary general meeting (EGM) here today.
PhileoAllied recorded a pre-tax profit of RM18 million on the back of RM189 million in operating revenue for the 11 months ended Dec 31, 2001.
The government via a special purpose vehicle (SPV) retained control of Pos Malaysia in the backdoor listing of the utility company, which was announced in August last year.
The SPV is Aroma Teraju Sdn Bhd, in which Minister of Finance Inc has a 55 percent stake while Bank Simpanan Malaysia owns the balance 45 percent share.
Via this company, the government now has about 31.5 percent direct and indirect stake in PhileoAllied, into which Pos Malaysia was being injected in a RM800 million deal.
In PhileoAllied annual report, Halim said the immediate task for Pos Malaysia Bhd was to strengthen its logistics and mail services to achieve the highest standards possible.
He also said that Pos Malaysia was to focus on providing new services that cater to the highly specialised needs of its corporate customers.
Chairman of Pos Malaysia Bhd, Datuk Annuar Ma’aruf, said Pos Malaysia’s corporate strategy would focus on two main areas – to strengthen domestic services and to reach out internationally.
He said Pos Malaysia was willing to invest in key areas like education, research and development and logistics to improve its efficinecy and increase productivity.
Referring to its foreign strategy, Annuar said that Pos Malaysia intended to form strategic alliances with global postal service providers.
Touching on the change name of PhileoAllied, Halim said the new name was expected to be finalised by early July.
