Parlo Bhd (-ve)
Parlo Bhd (fundamental: 0.95/3, valuation: 0.3/3), which triggered our momentum algorithm yesterday for the second time this year, closed half a sen down or 5.88% at eight sen. The counter saw 523,100 shares done, versus its 200-day average trading volume of 247,832 shares.
Formerly known as Cybertowers Bhd, Parlo is principally engaged in the provision of leisure and corporate travel products and services, as well as ancillary travel products and services for leisure and corporate travel.
Parlo reported a narrower loss of RM1.01 million in the first quarter ended March 31, 2019 (1QFY19), compared with a loss of RM1.58 million in 1QFY18, mainly due to higher other operating income, which comprised commissions received from airlines and realised gain in foreign exchange.
Revenue was largely the same at RM32.9 million versus RM32.87 million a year ago, which came entirely from its main operating subsidiary, Parlo Tours Sdn Bhd.
As at yesterday, Parlo was trading at 1.6 times its net book value.