Tag: Pos Malaysia

Malaysia's Transmile says unaware Pos Malaysia selling 17.3 pct stake to DHL

Transmile Group Bhd said it has no knowledge of any plan by major shareholder Pos Malaysia & Services Holdings Bhd to sell its 17.3 pct stake in Transmile to DHL as reported recently in local newspapers. ‘The Board of Directors of Transmile Group Bhd wishes to clarify that TGB is not aware of Pos Malaysia’s intention to dispose of its 17.3 pct stake in TGB to DHL,’ it said in a statement.

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DHL entry for Malaysian Transmile?

Transmile Group Bhd recently lost a bid to renew a contract with its biggest shareholder, Pos Malaysia Bhd, fuelling speculation that the postal operator wants to sell its shares in the air-cargo company. Pos Malaysia, which holds a 17.29 per cent stake in Transmile, had awarded its business to lesser-known Gading Sari Aviation Services Sdn Bhd. According to sources, Transmile had been carrying cargo for Pos Malaysia since 1993, but the contract, equivalent to about 4-5 per cent of Transmile’s total revenue, expired in December last year. “The contract was then extended for three months until March 2006, before Pos Malaysia decided not to renew Transmile’s contract after conducting a review of its existing suppliers,” a source told Business Times. This could mean that courier firm DHL could enter and buy a strategic stake in Transmile, the source said. DHL is currently one of Transmile’s biggest customers.

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Pos Malaysia, SingPost launch promotion to enhance express delivery service

Pos Malaysia Berhad and Singapore Post (SingPost) today launched a promotion drive to enhance their cross-broder express mail delivery service. Under the promotion, which will last a year, Malaysians and Singaporeans will enjoy special rates for certain classes of mail. SingPost group chief executive Lau Boon Tuan said this initiative was taken to further strengthen the existing close ties between the two parties for mutual benefit and also customers on both sides. “SingPost hopes this close cooperation will result in more value added services at attractive rates for our customers,” he said in a joint press release with Pos Malaysia chief executive officer Datuk Ikmal Hijaz Hashim when the latter visited SingPost’s Malaysian heaquarters here today.

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Pos Malaysia expands global service network

PosLaju, the national courier arm of Pos Malaysia Bhd, has embarked on an exercise to expand its global service network to 30 new lanes. This brought its total international delivery service destinations to 92 countries across the globe, said Pos Malaysia &Services (POSHB) in a statement today. Pos Malaysia is a wholly-owned subsidiary of POSHB. Delivery to the 30 new destinations under PosLaju’s international courier services, also known as the Expedited Mail Services (EMS), will take effect on Jan 1, 2006. POSHB said delivery of documents and parcels will be priced on average at 22 percent and 43 percent lower respectively compared to other international courier service providers.

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Khazanah Nasional completes 8.4 pct stake buy in Pos Malaysia

State-owned investment arm Khazanah Nasional Bhd said it has completed the acquisition of 42.8 mln shares or an 8.4 pct stake in Pos Malaysia & Services Holdings Bhd from Aroma Teraju Sdn Bhd. In a statement, it said the acquisition raises Khazanah’s cumulative equity interest in Pos Malaysia to 17.4 pct, making Khazanah the single largest direct shareholder in the company. Khazanah also said it has entered into a share sale agreement with Aroma to buy all the Pos Malaysia shares that Aroma will receive through the proposed capital distribution exercise by Avenue Capital Resources Bhd.

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