Parlo accepts shares for shortfall in profit

PETALING JAYA: Parlo Bhd said the shortfall of RM1.26 million guaranteed profit of its wholly-owned unit Parlo Tours Sdn Bhd in the financial year ended Dec 31, 2017 has been fully settled.
It told the stock exchange that the shortfall is deemed to be fully settled with the release of 11.5 million profit guarantee settlement shares to the stakeholder by the profit guarantor.
To recap, Parlo said the shortfall was due to higher expenses, which was a result of staff cost, advertisement programmes and marketing, as well as trade fair expenses incurred specifically as part of Parlo Tours' efforts to promote new travel destinations in the People's Republic of China and Europe.
Parlo’s share price slipped half a sen or 4.17% to 11.5 sen with 1.71 million shares traded.