RHB Investment: Pos Malaysia to return to profitability near term after rate hike | Malay Mail

Wednesday, 29 Jan 2020 01:00 PM MYT

The postal group in an announcement yesterday stated the revision would affect commercial customers with stamp rates for commercial mail more than double to RM1.30 while rates for personal and non-commercial mail users remain unchanged at RM0.60.“Following the rate revisions, we expect Pos Malaysia to return to profitability in the financial year 2021 forecast , boosted by a turnaround in earnings for its postal services and international businesses, which registered segmental losses of RM115.

RHB Investment also foresees a prospect of Pos Malaysia resuming its payout dividends starting from financial FY21F onwards . Meanwhile, AmInvestment Bank upgraded the counter to “hold” from “sell” with a fair value of RM1.34 from RM1.27.

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