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    PETDAG   MYL5681OO001

PETRONAS DAGANGAN BERHAD

(PETDAG)
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End-of-day quote BURSA MALAYSIA  -  2022-07-05
21.28 MYR   -1.66%
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PETRONAS Dagangan Berhad : Setel Revolutionise Delivery Space with New Seamless Service

03/03/2022 | 03:50am EDT
KUALA LUMPUR, 25 February 2022 - Setel, a wholly-owned corporate venture by PETRONAS Dagangan Berhad (PDB), today launched Setel Express - a latest feature on the app - that is set to take delivery into the next level of convenience.

Setel Express offers in-app service for Setel customers to track their e-commerce deliveries pick up and drop off parcels at selected PETRONAS stations. Soon, they will be able to schedule returns seamlessly from anywhere. E-commerce merchants will benefit from offering Setel Express on their platforms as their customers will enjoy the features coupled with reliable and affordable next-day swift intra-city parcel delivery.

Faizal Sulaiman, Chief Executive Officer of Setel Express, said, "Setel Express started as Logistika in September 2020 as a beta-tested delivery service within Klang Valley, riding the e-commerce wave during the early days of COVID-19 pandemic. We were able to keep to our next-day delivery promise and consistently received positive feedback from our merchants and their customers, and are now ready to scale this to the next level."

Setel Express currently has intracity presence in Klang Valley, Penang, Johor and delivers within Peninsular Malaysia with partners, leveraging on PETRONAS stations as hubs and pick up and drop off (PUDO) points. Through Setel Express, merchants can easily send their parcels via Door-to-Door, Point-to-Door, Door-to-Point, and Point-to-Point delivery methods throughout Peninsular Malaysia.

Mazlin Erawati Ab Manan, Chief Executive Officer of Setel, said, "The launch of Setel Express today marks an important milestone in the evolution and growth of the Setel ecosystem. It represents our commitment to providing unparalleled convenience, taking the same passion, ethos, and DNA of solving customer pain points and channeling it towards the next mobility challenge: delivering goods and services. We will offer the same seamless retail-on-the-go experience Setel customers are accustomed to at PETRONAS stations with deliveries without having to install another app."

Azrul Osman Rani, PDB Managing Director and Chief Executive Officer, said, "This is indeed another example where our vast network and strategic locations of PETRONAS stations is an advantage. We welcome Setel Express as a new service that complements PDB's agenda to grow our convenience business and promise in making customers' lives simpler and better."

Setel Express will continue to expand its merchant offerings via Setel's ecosystem, including introducing the Premium Merchant feature within the Setel App. In the pipeline, customers will also be able to access Setel Express through the convenience of their Setel app, where they can manage their personal deliveries with similar options offered to merchants.

For more information on Setel Express, visit https://www.setel.com/setel-express.

Disclaimer

Petronas Dagangan Bhd published this content on 03 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 March 2022 08:49:05 UTC.


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Financials
Sales 2022 28 575 M 6 459 M 6 459 M
Net income 2022 622 M 141 M 141 M
Net cash 2022 2 549 M 576 M 576 M
P/E ratio 2022 34,0x
Yield 2022 2,81%
Capitalization 21 141 M 4 779 M 4 779 M
EV / Sales 2022 0,65x
EV / Sales 2023 0,64x
Nbr of Employees 1 416
Free-Float 13,3%
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Number of Analysts 10
Last Close Price 21,28 MYR
Average target price 20,93 MYR
Spread / Average Target -1,63%
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Azrul bin Osman Rani Chief Executive Officer, Director & MD
Farzlina Ahmad Murad Chief Financial Officer
Anuar bin Ahmad Chairman
Mohamad Imran M. Ashraf Head-Technical Services Division
Koh Tat Chong Chief Technology Officer
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