Friday June 4, 2010
KUALA LUMPUR: Pos Malaysia Bhd says it has never incurred operational losses since its corporatisation in 1992 and has been paying dividends to shareholders every year.
Group managing director and chief executive officer Datuk Syed Faisal Albar said it was only in 2007 and 2008 that the company had to follow the prescribed accounting FRS129 standard to record an impairment provision from its investment in Transmile Bhd.
The impairment provision was RM141mi in 2007 and RM87mil in 2008.
“During these three years, we continued to register operating profit of RM101mil in 2007 and RM86mil in 2008 although our net position is a loss, dragged down by the provision I mentioned just now.
“But operationally, we still registered a profit,” he said.
Meanwhile, Pos Malaysia announced a strategic alliance between PosLaju, the leading Malaysian courier company, with United Parcel Service by jointly launching PosLaju International Premium (PIP) service.
The new international express delivery service, available at all 52 PosLaju outlets in Malaysia, will shorten by half the international transit time for packages and documents to over 215 countries.
“We are committed to meeting our customers’ needs for faster and more reliable service. We are introducing the new PIP service, jointly developed with UPS, as a testimony of that commitment,” Syed Faisal said after the signing ceremony.
He said customers would benefit from UPS’ world-class global service, fully supported by money-back guarantee. — Bernama
http://biz.thestar.com.my/news/story.asp?file=/2010/6/4/business/6399950&sec=business
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