KONSORTIUM Logistik Bhd, which is on expansion mode this year, has expressed its interest to bid for Khazanah Nasional Bhd's 32.2 per cent stake in Pos Malaysia Bhd.
Its executive director Che Azizuddin Che Ismail said Pos Malaysia can provide speed due to its widespread logistics network with more than 692 post offices, over 355 mini post offices and more than 223 independent postal agents nationwide.
"We are interested to acquire the stake. Whatever can bring profit to the company we will get involved and we will add value, because at the end of the day that is what shareholders look at," he told reporters after the company's annual general meeting Wednesday.
He said the company with over 20 years of experience could help improve Pos Malaysia's business operation for the benefit of shareholders.
Konsortium Logistik's President and Chief Executive Officer Loo Hooi Keat said there were also plans to bring a technical partner to assist in transforming Pos Malaysia.
In April, Khazanah Nasional Bhd had announced plans to sell its 32.2 per cent stake in the the postal services company by year-end.
Pos Malaysia's other government-linked shareholders are the Employees Provident Fund (8.64 per cent), Permodalan Nasional Bhd (6.05 per cent) and Valuecap Sdn Bhd (1.51 per cent) as at the end of 2008.
On another development, Che Azizuddin said his company was also planning to buy four units of fleet ships by end of this year comprising two units of car carriers and another two bulk carriers.
He said the acquisition of the second hand ships would fulfill 70 per cent of its operational requirement, adding that the remaining will have to be outsourced.
For the financial year ended Dec 31, 2009, Konsortium Logistik posted a higher pre-tax profit of RM31.855 million compared with RM28.661 million in 2008.
However, revenue declined to RM239.135 million from RM260.368 million previously.
Che Azizuddin said Konsortium Logistik expected to record better results this year with contributions from its core business, automotive and project logistics.
-- BERNAMA
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