Pos Malaysia's accumulated losses swell to RM215m with fifth straight quarter in the red

Pos Malaysia's accumulated losses swell to RM215m with fifth straight quarter in the red

The Edge Markets - Malaysia·2019-11-25 22:58

KUALA LUMPUR (Nov 25): Pos Malaysia Bhd has reported its fifth consecutive loss-making quarter, with net loss expanding to RM29.34 million from RM16.58 million last year, which brings it an accumulated loss of RM215.16 million since July last year.

Pos Group chief executive officer Syed Najib Syed Md Noor said the latest losses incurred in the three months ended Sept 30, 2019 was due to the continued decline in its mail volume, besides increasing costs in serving the Universal Service Obligation (USO) to accommodate the increasing growth of addresses nationwide.

……

Read full article on The Edge Markets - Malaysia

Government SE Asia Business

Comments

Leave a comment in Nestia App