KUALA LUMPUR: HLG Research is positive on POS MALAYSIA BHD []'s announcement that it would increase its domestic postal rates for standard mails, effective 1 July, for the first time in 18 years.
The research house said the rate revision would enhance the value of Pos and returns of seller Khazanah; and that the new rates will arrest the declining margins and declining postal volume.
HLG Research also views Pos Malaysia's partnership agreement with Green Packet's subsidiary P1, whereby P1 subscribers are able to pay, top up or register a new account via its 1,047 outlets nationwide.
Previously, P1 users are only able to pay their bills via PosOnline.
"We are positive on the developments as a sign that the company is actively diversifying their services beyond the traditional postal services to seek new revenue growth.
"Pos Malaysia is currently trading at FY11 P/E of 17 times and P/B of 1.3 times," it said.
Pos Malaysia added 14 sen to RM3 at 10am Wednesday, April 7 and was among the most actively traded stocks with 4.64 million shares done
http://www.theedgemalaysia.com/business-news/163310-hlg-research-positive-on-pos-malaysias-postal-rate-revision.html
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