Pos Malaysia has acquired the entire stake in Pos Ar-Rahnu Sdn Bhd to be used as the joint venture company.
This will allow Pos Malaysia outlets to distribute micro credit convenience to small time entrepreneurs who have difficulty obtaining bank financing, it said.
The joint venture company would operate the business within the existing Pos Malaysia outlets, thus, operational costs could be reduced due to the sharing of infrastructure within the outlets.
Pos Malaysia said with its existing network of more than 700 outlets, the joint venture company could explore an aggressive expansion of the business at strategic locations.
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