Cheryl Yvonne Achu (Business Times)
DRB-HICOM has identified 17 areas of new businesses that can be tapped through Pos Malaysia including collaborating with Bank Muamalat Malaysia
KUALA LUMPUR: DRB-HICOM Bhd expects Pos Malaysia Bhd to generate RM2 billion in earnings by 2015, said DRB HICOM's managing director Datuk Seri Mohd Khamil Jamil.
DRB HICOM owns 32.27 per cent of Pos Malaysia, the country's largest postal company. It acquired the stake from Khazanah Nasional late last year for RM622.79 million or RM3.60 per share.
For the year ended December 31 2010, Pos Malaysia earned RM1.01 billion in sales, while pre-tax profit stood at RM99.06 million. Up to the nine months ended September 30 2011, Pos Malaysia's revenue stood at RM883.98 million, while pre-tax profit came in at RM128.55 million.
Mohd Khamil said that DRB- HICOM had identified 17 areas of new businesses that can be tapped through Pos Malaysia including collaborating with Bank Muamalat Malaysia Bhd.
"The management of Pos Malaysia had put forward more than 39 points of its transformation plans," Mohd Khamil said, noting that Pos Malaysia had 39 points of transformation plan before it was handed over and after being acquired.
Moving forward, DRB-HICOM plans to take Pos Malaysia to the next level of growth despite the postal business being a sunset industry. Worldwide, postal businesses have slowed down as people are moving away from traditional postal mail.
"The margin to improve is tremendous if we concentrate on courier services," he said noting that courier services have about RM1.6 billion worth of business to tap on.