MOVING POSITIVELY FORWARD

Transcription

1 MOVING POSITIVELY FORWARD ANNUAL REPORT 2014

2 MOVING POSITIVELY FORWARD This visual signifies surging ahead towards new grounds offering all Malaysians dynamic services.

3 POSSIBILITIES ARE ENDLESS POSLAJU POSNIAGA POSMEL POS MALAYSIA INTERNATIONAL

4 CONTENTS 22 ND ANNUAL GENERAL MEETING OF POS MALAYSIA BERHAD 4 SEPTEMBER 2014 AT 9.00 A.M. MAHKOTA BALLROOM, BR Floor, Hotel Istana Kuala Lumpur, 73, Jalan Raja Chulan, Kuala Lumpur 4 At a Glance 6 Our Journey HIGHLIGHTS 16 Group Financial Highlights 18 Business Highlights 19 Share Price Performance TRANSFORMATION AND PROGRESS 20 Chairman s Statement 24 Group CEO s Report CORPORATE ACTIVITY 30 Awards & Accolades 32 Events 38 News and Media

5 LEADERSHIP 40 Corporate Information 42 Group Structure 44 Board of Directors 46 Directors Profiles 52 Group CEO s Profile 54 Leadership Team CORPORATE RESPONSIBILITY 58 Workplace 60 Community 61 Marketplace 61 Environment OUR COMMITMENT TO CREATE VALUE FOR SHAREHOLDERS 62 Corporate Governance Statement 77 Statement on Risk Management and Internal Control 81 Directors Responsibility Statement 82 Additional Compliance Information 94 Audit Committee Report FINANCIAL RESULTS 102 Directors Report 106 Statements of Profit or Loss and Other Comprehensive Income 107 Statements of Financial Position 108 Consolidated Statements of Changes in Equity 110 Statements of Cash Flows 112 Notes to the Financial Statements 175 Statement by Directors 175 Statutory Declaration 176 Independent Auditors Report OTHER INFORMATION 178 Top 10 Properties 182 Analysis of Shareholdings 185 Notice of 22 nd Annual General Meeting Proxy Form

6 4 AT A GLANCE THE NEW POS MALAYSIA VISION, MISSION AND VALUES We have further refined the Pos Malaysia Vision, Mission and Values which now reflect our new business model, and which in future will help us to further enhance the impact of our transformation plan. We have also translated our new Vision, Mission and Values into a compelling corporate identity that will ensure our brand stands out at every consumer touchpoint. POS MALAYSIA BERHAD ANNUAL REPORT 2014

7 5 VISION Our new vision is an expression both of our brand and of the future ambition of Pos Malaysia: our vision and ambition of Connecting Malaysia, and beyond for today and tomorrow. Connecting Malaysia We connect all the people and businesses of Malaysia, at work and at home, both off-line and on-line. We are a part of the very fabric of Malaysian society, the glue that binds it together yet opens up new opportunities for the future. And beyond Malaysia is, and always will be, our home and our principal 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 businesses. 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. MISSION To build and deliver the network of choice NEXT STEPS Our goal is to inculcate in our people an even greater sense of belonging and pride in the brand. An ongoing initiative to ensure every single employee embraces the brand and what it stands for. As we evolve, restructure and reinvent ourselves, our brand will always remain relevant to both its internal and external stakeholders. 17,507 NUMBER OF STAFF 5,700 NUMBER OF TOUCHPOINTS 9,739 NUMBER OF VEHICLES 3,109 NUMBER OF STREET POSTING BOXES VALUES Empathy We need to understand our customers and do more than just hear them. Our business then delivers what they need, and why they need it. Decorum We treat all others the way we would want to be treated ourselves with decency, dignity and respect. Integrity We act in everything we do in an open and honest manner, beyond reproach and with utmost sincerity. Accountability We hold ourselves, and expect to be held, accountable individually, and as a team, at all 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. POS MALAYSIA BERHAD ANNUAL REPORT 2014

8 6 OUR JOURNEY TRANSFORMATION OF POS MALAYSIA Pos Malaysia Berhad is Malaysia s sole provider of postal services. It is one of the nation s most trusted brands and has been an integral part of every Malaysian s life since we started delivering basic postal services in the 1800s. In 1992, this massive experience underpinned our transformation to a corporate entity. Pos Malaysia has a social obligation to the country as it is in daily contact with the nation s people and businesses. Our role goes beyond the demands of our legally binding Universal Service Obligation ("USO") under the postal services act. We are totally committed to building an everstronger relationship with our customers. Pos Malaysia has grown from strength to strength. We now offer services not just for traditional but also the connected generations on-line and off-line. Today, Pos Malaysia is continuing to transform itself in order to maintain its relevance and competitive edge, and to connect Malaysia to the rest of the world. Pos Malaysia aspires to be: Part of everyday lives of Malaysians through a convenient and innovative range of products and services An established organisation that connects Malaysia across a vast network of touchpoints and delivery channels that transcend both geographical and social boundaries A trusted and preferred brand that fulfils public and business expectations through service efficiency and reliability POS MALAYSIA BERHAD ANNUAL REPORT 2014

9 7 Corporate restructuring and transfer of listing status to Pos Malaysia Berhad Basic postal services established in the Straits Settlements Corporatisation to Pos Malaysia Berhad Public Listing 2007 POS MALAYSIA & SERVICES HOLDINGS BERHAD 2011 Acquisition of Khazanah s 32.2% equity stake in Pos Malaysia by DRB-HICOM Berhad Jabatan Perkhidmatan Pos POS MALAYSIA BERHAD ANNUAL REPORT 2014

10 POSMEL PosMel leverages on the strength of our extensive physical delivery network to provide customers with conventional mail services and also customised solutions that are tailored to meet their increasingly discerning needs.

11 DELIVER TO MORE THAN 8 MILLION ADDRESSES DELIVER UP TO 5 MILLION POSTAL ARTICLES ON DAILY BASIS. MORE THAN 8,000 POSTMEN INCLUDING COMMUNITY POSTMEN AND COMMUNITY POSTAL AGENTS IN SABAH AND SARAWAK. A NETWORK OF 25 MAIL PROCESSING CENTRES AND 330 DELIVERY BRANCHES THROUGHOUT THE COUNTRY. 96,727 NUMBER OF POST OFFICE BOXES. KEEPING YOU POSTED

12 POSLAJU PosLaju has the most extensive delivery network and number of touchpoints in Malaysia. It also has the largest courier fleet in the country. This vast asset provides convenience when it comes to delivery that makes PosLaju the nation s preferred courier service provider, connecting people and businesses in and beyond Malaysia.

13 MORE THAN 1,000 TOUCHPOINTS COMPRISING 704 POST OFFICES, 264 POSMINI OUTLETS, 68 POSLAJU BRANCHES, 28 POS-ON-WHEELS/ POSLAJU GO2U AND MORE THAN 100 AUTHORISED AGENTS. 1 st AND ONLY COURIER COMPANY IN MALAYSIA TO INTRODUCE KIOSKS AT LRT STATIONS. AFTER HOURS DELIVERY MADE DAILY 3PM-9PM 2,290 NUMBER OF VEHICLES COMPRISING MOTORCYCLES, VANS AND LORRIES. POSITIONED FOR THE FUTURE

14 POSNIAGA With more than 1,000 touchpoints throughout the country, PosNiaga provides customers with easy access to a wide array of over-thecounter products and services.

15 MORE THAN 1,000 TOUCHPOINTS COMPRISING 704 POST OFFICES, 264 POSMINI OUTLETS AS WELL AS POS-ON-WHEELS AND POS24. SERVING MORE THAN 200 AGENCIES - ENTRUSTED BY THIRD PARTIES COMPRISING GOVERNMENT AGENCIES, CONGLOMERATES AND CORPORATE ENTITIES TO PROVIDE RELIABLE SERVICES. MORE THAN 100 MILLION TRANSACTIONS PROCESSED ANNUALLY. MORE THAN 3,500 DEDICATED FRONTLINERS SERVING YOUR NEEDS AT POST OUTLETS NATIONWIDE. MAKING IT POSSIBLE

16 EXPRESS MAIL SERVICE (EMS) WITH TRACK AND TRACE CAPABILITIES TO 255 COUNTRIES AND TERRITORIES. DEDICATED INTERNATIONAL HUB WITH TOTAL AREA OF 60,000 SQ FT, SUPPORTED BY IN HOUSE CUSTOMS SERVICES, POS MALAYSIA INTERNATIONAL HUB PROVIDES AN INTEGRATED LAND, SEA AND AIR LINK TO THE REST OF THE WORLD. ENHANCED MAIL AND MERCHANDISE FACILITIES LED TO HANDLING OF MORE THAN 2 MILLION KG OF INTERNATIONAL LETTERS, BULK MAILS AND PERIODICALS. MORE THAN 350,000 ITEMS HANDLED FOR INTERNATIONAL DESTINATIONS, DRIVEN BY THE RISE IN E-COMMERCE TRANSACTIONS. POSITIVELY COMMITTED

17 POS MALAYSIA INTERNATIONAL Pos Malaysia International is the international front for the Group s cross-border business in mail and parcels. Through its international hub and gateway in KLIA, we connect Malaysia to the most extensive delivery network worldwide.

18 * * * 15-month performance POS MALAYSIA BERHAD ANNUAL REPORT * * RM RM RM157.7 million NTA Per Share Earnings Per Share 76.7 Profit After Tax * RM283.2 million RM202.2 million 1,426.9 RM1,426.9 million 1,269.5 EBITDA 1,481.7 Operating Profit 1,015.0 Revenue GROUP FINANCIAL HIGHLIGHTS 2014

19 / / / PROFITABILITY Profit Before Tax (RM mil ) * Operating margin (%) EBITDA margin (%) Return on Assets (%) ^ Return on Equity (%) ^ BALANCE SHEET Total Assets (RM mil ) 1, , , , ,274.6 Total equity attributable to equity shareholders of the company (RM mil ) 1, Current Ratio (Times) STAFF INFORMATION No of staff (No) 17,507 16,245 15,877 15,618 15,780 Staff cost to revenue (%) Revenue per employee (RM 000) ^ ^ Annualised figures * 15-month performance REVENUE BREAKDOWN FYE2014 OPERATING EXPENSES BREAKDOWN FYE2014 Retail 12.9% Others 5.1% Depreciation of property, plant and equipment 6.6% Other operating expenses 5.9% Raw materials and consumables 2.3% Maintenance and supplies 5.3% Courier 27.5% Transportations 15.7% Mail 54.5% Rental, communication and utilities 5.4% Staff Costs 58.8% POS MALAYSIA BERHAD ANNUAL REPORT 2014