Pos Malaysia seeks stronger eCommerce role
It plans to talk to Alibaba this month about cutting out third parties for its deliveries, says CEO Mohd Shukrie Mohd Salleh.
There was a 40 per cent jump in parcel deliveries as a result of online shipping in the first fiscal quarter, he says, and full-year earnings are also expected to be higher.
The global retail eCommerce market is worth about US$1.2 trillion, according to the Universal Postal Union.
Pos Malaysia, which started in the early 1800s with mail deliveries by bicycle, is the top performer this year among 14 global courier stocks, with a market value of at least $500 million, recording a return of 49 per cent, beating United Parcel Service and FedEx.
Alibaba says its delivery affiliate Cainiao Smart Logistics Network “works collaboratively with logistics participants to enhance customer experience and operation efficiency”, but “it is natural we talk to industry participants”.
Singapore Post, which counts Alibaba as its second-biggest shareholder, said a year ago that it plans to expand freight services and warehouses in Europe and the US.