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Cambodia Post back in business

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Cambodia Post earned more than $2.65 million in revenue during the first six months of this year, down 55.23 per cent from more than $5.93 million in the same period last year. Hong Menea

Cambodia Post back in business

State-owned mail service provider Cambodia Post on Monday resumed limited express delivery after a nearly five month long Covid-19 hiatus.

On March 12, Cambodia Post suspended all international shipments during the intensifying crisis.

It said it will ship mail and packages to some Asia-Pacific countries such as Australia, China (including Hong Kong and Taiwan), Japan, South Korea, Israel, Singapore, the UAE, Vietnam and Thailand.

Other destinations include European countries such as Austria, Belgium, Denmark, Finland, Switzerland, France, Germany, Italy, the Netherlands, Norway, Poland, Sweden, the UK and Spain as well as North American countries, including the US and Canada.

Cambodia Post director-general Ork Bora told The Post on Tuesday that the resumption of operations comes after the company partnered with a new air carrier.

He noted that mailing rates will increase by $8 per kg for the duration of Covid-19.

On Monday alone, he said, Cambodia Post received 2,810kg of mail from 373 customers.

“We expect our revenue to remain strong or register an upward spiral towards our $1 million per month ambition by virtue of the substantial Covid-19 era surge in online orders,” Bora said.

He said Cambodia Post earned more than $2.65 million in revenue during the first six months of this year, down 55.23 per cent from more than $5.93 million in the same period last year.

Last year, the company netted $12,237,459, up 224.46 per cent from $3,771,598 in 2011.

Cambodia Post also invests in Cambodia Post Bank Plc (CP Bank), which has registered some $36.52 million in profit since it was launched in 2013. In 2018 alone, the bank posted $13.81 million in profit.

Canadia Investment Holding Plc is CP Banks’s majority shareholder, with 50 per cent of its equity, followed by Singapore-based investment company Fullerton Financial Holdings Pte Ltd (45 per cent) and Cambodia Post (five per cent).

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