Pos Malaysia to increase fuel surcharge for shipments between Peninsular Malaysia and Sabah/Sarawak

KUALA LUMPUR (March 29): Pos Malaysia Bhd said Tuesday it will be increasing its fuel surcharge by 5% for shipments that move between Peninsular Malaysia and Sabah/Sarawak.

With the ongoing tension and very unfortunate events taking place in Ukraine, jet fuel price has surged sharply recently, the company said in a statement.

“As such, effective April 1, 2022, Pos Malaysia will be increasing its fuel surcharge by 5% for shipments that move from Peninsular Malaysia to Sabah/Sarawak (Zone 4) and Sabah/Sarawak to Peninsular Malaysia (Zone 5),” it said.

At the time of writing, Brent crude oil prices stood at US$111.57 (RM471.10) per barrel. Oil prices have climbed 15.21% since Feb 23, the day before Russia began a military invasion of Ukraine.

Last Tuesday, the group announced that its net loss for the fourth quarter ended Dec 31, 2021 narrowed to RM123.21 million from RM232.35 million a year ago.

As for the full year ended Dec 31, 2021, the group’s net loss widened to RM335.73 million from RM308.02 million a year earlier.

The group has been in the red since Sept 30, 2018.

At Tuesday's close, Pos Malaysia shares settled 3 sen or 4.92% higher at 64 sen, valuing the group at RM500.98 million.