Pos Malaysia is currently in talks to acquire a courier company in the Middle East to diversify its business portfolio, in line with its five-year transformation plan.

Its Group CEO said, the company targets to conclude discussions, by year end.

He said this after POS Malaysia's 20th AGM today.

POS Malaysia, which has allocated a capital expenditure of up to 150 million ringgit for the current financial year, could increase it, in case of a merger and acquisition exercise.

Datuk Khalid said, the capex would be used only for the organic growth of the company, among them, expansion and refurbishments of existing outlets.