200-Year-Old Snail Mail Operator Taps Alibaba Giant for Growth
- Pos Malaysia is world’s best-performing courier stock in 2016
- Shares rally 85 percent from February low as earnings jump
Mail boxes are seen at a residential building in the Abdullah Hukum housing complex in the Mid Valley area of Kuala Lumpur, Malaysia, on Tuesday, Feb. 16th, 2016. Gross domestic product rose 4.5 percent in the three months through December from a year earlier, after climbing 4.7 percent in the previous quarter, the government said in a statement Thursday.
Photographer: Sanjit Das/BloombergMalaysia’s biggest postal company is seeking a more direct role in providing logistics services to Chinese e-commerce giant Alibaba Group Holding Ltd., tapping a boom in online retailing.
Pos Malaysia Bhd. plans talks with Alibaba this month on bypassing the middlemen when shipping goods sold on its platforms, Mohd Shukrie Mohd Salleh, its chief executive officer, said. Surging parcel deliveries for online shopping drove a 40 percent jump in profit in the fiscal first quarter and full-year earnings will be higher than a year earlier, he said.