Pos Malaysia gets white knight, Syed Mokhtar

SYED MOKHTAR TO THE RESCUE. The world's richest Malay has emerged as the odds on favourite to capture Khazanah Nasional Bhd's 32.2 per cent stake in Pos Malaysia Bhd.

A decision on the sale is expected soon. It could cost the tycoon, whose family hails from Bukhara in modern day Uzbekistan, about RM700 million.

Syed Mokhtar is experiencing a renaissance of sort, after being kept out of the loop by the Abdullah Badawi administration.

It hasn't been a good year for Pos Malaysia, being hauled up by the Parliment's Public Accounts Committee. Syed Mokhtar will be expected to do what he has done in DRB-Hicom - haul up the deadwoods, and turn the rank and file into a fighting force ready for war! Syed Faisal Albar, a former CEO of NST, is the current group MD of Pos Malaysia.

courtesy of rocky's bru