PETALING JAYA: Parlo Tours Sdn Bhd, travel management and services group in Malaysia, via a reverse takeover of Cybertowers Bhd has today joined the ACE Market of Bursa Malaysia Securities Berhad, under the name Parlo Bhd. The group's share price jumped 8.5 sen or 85% to trade at 18.5 sen as at 3.54pm today, with some 23.9 million shares changing hands. The Parlo group led by CEO Dani Yap acquired Parlo Tours for RM25.0 million, with a profit guarantee of not lower than RM8.6 million combined, for the financial years ended Dec 31, 2016 and Dec 31, 2017 (FYE16 and FYE17). Based on the average profit guarantee of RM4.3 million per annum, this translates to a price-to-earnings ratio (PER) of 5.8x. The regularisation plan also included a private placement of 84 million Parlo shares at the issue price of RM0.10 per share, to raise funds, mainly for working capital of the group. Moving forward, the Parlo group has on-going plans to further develop its leisure and corporate travel business through participation in more trade exhibitions and events, increasing advertising and promotional activities as well as expanding our sales and distribution channels. In addition, the group has plans to increase their participation in e-commerce platform, enabling online travel reservations. This will allow the group to engage in cross border travels and position themselves for a larger market segment. According to an Independent Market Research Report by Smith Zander International Sdn Bhd1, the global travel and tourism industry has been experiencing growth as international tourist (overnight visitors) arrivals stood at 1.2 billion in 2016, having grown from 950.2 million in 2010 at a compound annual growth rate (CAGR) of 4.5%, and is projected to increase by 3.3% annually between 2016 and 2030, to reach 1.80 billion visitors. International tourism receipts, representing the expenditure by international tourists for and during tourism trips, stood at US$1,162.5 billion in 2016, having grown from US$919.0 billion in 2010 at a CAGR of 4.0%. In Malaysia, tourist arrivals increased from 24.6 million persons in 2010 to 26.8 million persons in 2016, at a CAGR of 1.4%, as tourism receipts increased from RM56.5 billion to RM82.1 billion, at a CAGR of 6.4%, during the same period. Parlo believes that the group will be able to leverage on the growth potential of the tourism industry to substantially increase its revenue and enhance the overall financial performance of the group.