KUALA LUMPUR, Sept 6- Pos Malaysia Bhd is looking to expand through mergers and acquisitions via its international business division, said Chairman Tan Sri Mohd Khamil Jamil.
Currently, he said the company is in the midst of negotiations with partners in the Middle East.
He said discussions have been ongoing for some time, but due to the intricacies of an international deal, the company is still looking for other targets overseas.
“We are looking for the best partner that we could have for us to venture into the international market,” he told reporters after Pos Malaysia’s shareholders meeting Thursday.
“That (international business) is one area that I believe Pos Malaysia can leverage on and with the networking DRB-Hicom Bhd has, we can move on and become a regional player in the very near future,” said Mohd Khamil.
Pos Malaysia, a unit of DRB-Hicom, also aims to open an additional 30 ArRahnu@POS outlets in its financial year ending March 31, 2014.
To date, 70 ArRahnu branches are already in operations nationwide.
“We believe ArRahnu is one of the areas of business which Pos Malaysia can significantly contribute to the Malaysian public as well as to assist in the financing requirements of Malaysians as well,” said Mohd Khamil.
ArRahnu@POS was launched in July 2012 through a joint-venture with Bank Muamalat Malaysia Bhd.
As of March 31, 2013, the segment has already contributed about RM1 million to Pos Malaysia’s profits.
Asked on the recent hike in petrol prices, Mohd Khamil said the company was looking to increase its revenue and become more efficient in cost to mitigate the rise of petrol prices in the country.
Currently, transportation make up 13 per cent of the group’s operational expenditure.
– BERNAMA
