Future of Pos Malaysia

March 31, 2010 13:09 PM

Khazanah Hopes To Seal Pos Malaysia Deal By Year-End

KUALA LUMPUR, March 31 (Bernama) -- The government's investment arm, Khazanah Nasional Bhd, hopes to conclude the divestment of a 32.2 percent stake in Pos Malaysia Bhd within this year.

Managing Director, Tan Sri Azman Mokhtar said the company was seeing keen bidders but would not confirm or deny, that DRB-Hicom Bhd and Tune Group were among them.

"Depending on the consultation time with the government, it would take between three to six months to finalise the deal," he told a press conference on the sidelines of Invest Malaysia 2010 here, Wednesday.

Asked if the deal could be concluded within this year, he said:"We hope."

He also said, qualifying bids should be majority controlled by Malaysian parties, with an appropriate consideration and due merit given to the quality of strategic and technical partners, which may include foreign parties.

It was reported that the 32 per cent Pos Malaysia stake is worth about RM390 million.

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 (1.51 per cent), as at the end of 2008.

Source-- BERNAMA