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Pos Malaysia Berhad Annual Report 2016 “REACHING OUT” BEYOND BOUNDARIES POS MALAYSIA BERHAD POS MALAYSIA POS MALAYSIA BERHAD (229990-M) Level 8, Pos Malaysia Headquarters Dayabumi Complex, 50670 Kuala Lumpur 03-2267 2267 (229990-M) www.pos.com.my ANNUAL REPORT 2016 “REACHING OUT” Standard Mail Courier, Express & Retail Flexipack Domestic, Standard Parcels (CEP) Bill payments, driving license Mail, Non-Standard Mail, Same Day Delivery, Next renewals, personal insurance, Postcards, Mel Rakyat, Pos Day Delivery, Time Certain vehicle shipping services, Ekspres, Pos Daftar and Service, Pos Parcel, Pos and all kinds of purchasable Pos Solutions. Ekspres, Pos Laju Prepaid products at Pos Outlets. Pack, On-Demand Pick-up and Prepaid Envelopes/ Boxes. BEYOND OUT BOUNDARIESOver the years, Pos Malaysia has weathered many challenges and grown from strength to strength. Not one to be complacent about what we have built to date, we are continuously innovating and pushing our boundaries to reach even greater heights. Moving forward, we endeavour to be a leading fully integrated logistics service provider offering end-to-end logistics solutions to businesses and individuals alike. International Mail e-Commerce Logistics International inbound and e-fulfilment, e-payment Warehousing, outbound mails, small and e-marketplace. freight-forwarding, etc. packets and parcels. SHARING OUR 4 Some Facts About Us 66 Corporate Governance Statement 6 Our Vision, Mission, Brand Values 82 Statement on Risk Management 10 Group Financial Highlights and Internal Control 12 Business Highlights 87 Directors’ Responsibility Statement 13 Share Price Performance 88 Additional Compliance Information SHARING 16 Chairman’s Statement 94 Audit Committee Report CONTENTS 22 Management Discussion & Analysis 99 Financial Statements 33 Awards & Accolades 178 Top 10 Properties 34 Corporate Events 182 Analysis of Shareholdings 38 News & Media 186 Notice of 24th Annual General Meeting 42 Corporate Information • Proxy Form 44 Group Structure 46 Board of Directors 48 Directors’ Profiles 53 Group CEO’s Profile 54 Our Chiefs 56 Our Chiefs’ Profiles 58 Corporate Responsibility POSTAL & COURIER Pos Mel Pos Laju Pos Mel leverages on the strength of an extensive physical Pos Laju has the most extensive delivery network and number delivery network to provide customers with conventional mail of touch points in Malaysia. It also has the largest courier services and also customised solutions that are tailored to fleet in the country. Our vast network and assets provide meet their increasingly discerning needs. convenience when it comes to last mile delivery, making Pos Laju the nation’s preferred courier service provider, connecting people and business in and beyond Malaysia. SOME FACTS Delivers to more than 275 dedicated counters 8.5 million addresses throughout Malaysia Delivers up to 68 Pos Laju centres 3.4 million throughout Malaysia postal articles on daily basis More than 8,000 postmen outlets including Community Postman and 12 at LRT stations & shopping malls Community Postman Agents in Sabah and Sarawak A network of 25 mail processing centres 9,404 vehicles 332 delivery branches throughout the country More than PO boxes 6,642 delivery routes 96,333 throughout Malaysia 4 POS MALAYSIA BERHAD Pos Niaga Pos International Pos Niaga has a countrywide footprint and reach that Pos Malaysia International (“PMI”) connects Malaysia to the surpasses all others. With more than 1,000 touch points all world by providing international postal services that include over Malaysia, Pos Niaga continues to provide a wide range mail, small packets and parcels through its international hub of retail products and services to our customers. and gateway in KLIA. ABOUT US 1,030 touch points 230,000 throughout Malaysia FlexiPack International items delivered worldwide annually Processes over 0011 3230 0932 9032 117million transactions annually 227pos mini outlets 11.8 million kg of international mail and parcels handled post offices at the Pos Malaysia International Hub 699 annually 30 Pos-on-Wheels (PoW) 5,500 tonnes of e-Commerce items handled and delivered worldwide annually 24 Pos Automated Machines 29 Post Offices providing extended services beyond 7pm postal agents 255 112 countries & territories Express Mail Service (EMS) delivery destinations worldwide 2,077stamp vendors ANNUAL REPORT 2016 5 OUR VISIONCONNECTING MALAYSIA CONNECTING We connect all the people and businesses of Malaysia, at work and at home, both online and offline MALAYSIA, We are a part of the very fabric of Malaysian AND BEYOND – society, the glue that binds it together yet opens up new opportunities for the future FOR TODAY AND AND BEYOND TOMORROW Malaysia is, and always will be, our home and our principle place of business However we also connect Malaysia, and all Malaysians, with the world outside – as much as within Our horizons are global, as are our opportunities, as we reach for an ever more exciting future FOR TODAY AND TOMORROW We began life as a postal delivery service – connecting people and enterprises Postal services will always remain the keystone of our business but we continue to evolve alongside our customers and technology – innovating to stay relevant for the future, delivering convenient new products and services 6 POS MALAYSIA BERHAD BUILD AND DELIVER THE NETWORK OF CHOICE MISSION BRAND EMPATHY INTEGRITY VALWe need to understand our customers and do UESWe act in everything we do in an open and more than just hear them. Our business then honest manner, beyond reproach and with delivers what they need, and why they need it utmost sincerity DECORUM ACCOUNTABILITY We treat all others the way we would want to We hold ourselves, and expect to be held, be treated ourselves – with decency, dignity accountable individually, and as a team, at all and respect levels of the organisation, for our actions and decisions INNOVATION We constantly search for new and better ways to satisfy our customers, willing to question and unafraid to try ANNUAL REPORT 2016 7 WE ARE ASKING NEW QUESTIONS TO OVER NEW CUSTOMERS In this day and age, change is the only constant. The way WINto stay close to our customers and remain relevant, is to actively listen, understand, and adapt to their ever- changing needs. This is exactly what we intend to do. GROUP FINANCIAL HIGHLIGHTS 2016 2015 2014 2013 2011/12 Profitability Profit Before Tax (RM million) 92.5 181.3 223.4 191.9 200.2 * Operating Margin (%) 4.0 10.9 14.2 12.7 12.3 EBITDA Margin (%) 10.6 16.9 19.8 19.4 18.2 Return on Assets (%) 3.4 7.6 9.6 10.3 10.2^ Return on Equity (%) 5.7 14.5 15.4 16.0 12.4^ Balance Sheet Total Assets (RM million) 1,868.7 1,680.6 1,654.2 1,615.3 1,498.1 Total Equity Attributable to Equity Shareholders of the Company (RM million) 1,115.6 1,122.9 1,033.9 947.7 898.1 Current Ratio (times) 1.6 1.8 1.5 1.4 1.2 Staff Information Number of Staff (No.) 18,340 18,377 17,507 16,245 15,877 Staff Cost to Revenue (%) 49.5 52.5 50.5 53.7 52.7 Revenue per Employee (RM '000) 93.6 81.3 81.5 78.1 74.7^ ^ Annualised figures * 15-month performance Revenue Breakdown Operating Expenses Breakdown (FYE2016) (FYE2016) 12% 6% 5% 2% 3% 6% 6% 32% 24% 51% 53% Mail Staff cost Courier Transportations Retail Depreciation of property, plant and equipment Others Rental, communication & utilities Other operating expenses Maintenance & supplies Raw materials & consumables 10 POS MALAYSIA BERHAD Revenue Operating Profit EBITDA (RM million) (RM million) (RM million) 283.2 269.5 1,717 252.5 246.1 202.2 1,494 1,482 182.6 1,427 163.2 160.8 1,270 181.4 68.3 2012* 2013 2014 2015 2016 2012* 2013 2014 2015 2016 2012* 2013 2014 2015 2016 Profit After Tax Earnings Per Share NTA Per Share (RM million) (Sen) (RM) 29.6 28.3 25.9 2.09 2.07 23.7 1.93 157.5 151.3 1.76 138.8 1.67 127.1 11.7 63.1 2012* 2013 2014 2015 2016 2012* 2013 2014 2015 2016 2012* 2013 2014 2015 2016 * 15-month performance ANNUAL REPORT 2016 11 BUSINESS HIGHLIGHTS Revenue Revenue Revenue RM556.1mil RM905.4mil RM201.7mil 32.4% 52.7% 11.7% Revenue Contribution Revenue Contribution Revenue Contribution Courier Business Courier Mail Business Retail Business 12 POS MALAYSIA BERHAD SHARE PRICE PERFORMANCE Share Price Volume (RM) 6 15,000,000 5 12,000,000 4 9,000,000 3 6,000,000 2 3,000,000 1 0 0 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 Dec 2015 Jan 2016 Feb 2016 Mar 2016 Share Price Volume 2015 2016 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Total Monthly 162,002 90,193 68,887 108,103 99,291 147,923 51,433 82,410 208,215 159,325 229,702 669,959 Volume (’00) Monthly High 5.32 5.24 4.76 4.48 4.41 3.85 3.95 3.89 3.56 2.85 2.44 3.10 (RM) Monthly Low 5.02 4.47 4.20 4.19 3.76 3.47 3.61 3.33 2.59 2.16 2.08 2.04 (RM) Month End 5.09 4.49 4.28 4.29 3.78 3.66 3.88 3.57 2.78 2.26 2.08 2.70 Closing (RM) ANNUAL REPORT 2016 13 INTEGRATING SOLUTIONS FROM EVERY SERVICE PERSPECTIVE With all the right building blocks in hand, it is now simply a matter Lorem of piecing them together so that we can rise up as a truly holistic, one-stop logistics service provider.
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