KUALA LUMPUR (Sept 25): Parlo Bhd has signed an agreement with Myanmar’s Diamond Palace Group of Companies Ltd and Agensi Pekerjaan Seaview Hectare Sdn Bhd (Seaview) to provide employment agency related services to source for new revenue streams as it faces a stalemate in the tourism industry due to the Covid-19 pandemic.
In a stock exchange filing today, Parlo said it believes the collaboration has potential and would contribute positively to the group’s earnings as well as improve its financial position.
Diamond Palace is incorporated in the Republic Union of Myanmar, where it undertakes various Myanmar national projects that include consular and employment agency services for Myanmar migrant workers, while Seaview is Diamond Palace’s local partner located in Malaysia.
Through the collaboration, Parlo will provide employment agency related service for workers from source country to destination country in an effort to facilitate the supply of workers to employers.
It said the employment agency services include travel, logistics and dormitory arrangements as well as arranging for medical examinations for migrant workers.
“Post Covid-19, when borders reopen there will be a large pent-up demand for foreign migrant workers. Existing workers will need to return and new workers leave. Worldwide, there are a total of 160 million long-term foreign migrant workers and from Myanmar alone 10 million,” the group said.
Parlo further explained that all parties have also agreed to explore the organising of vocational training schools, managing and supervising training, providing micro-financing and the implementation of a digital identity solution to digitise information of migrant workers.
“The E-ID Total Solutions facilitate secure online transactions such as banking, travel, insurance and other commerce services to enable seamless and authenticated processes at the foreign migrant workers’ convenience,” it said.
Parlo executive director and chief executive officer Dani Yap Tsok Lim said due to the current downturn in tourism, the company is finding new ways to get back into the game.
“We foresee a bright future with this programme if we are able to secure the mandate and roll out the E-ID Total Solutions which will incorporate other digital services such as general payment gateway and e-visa. This will not only open up many income opportunities for us but also converge the migrant worker services into one system,” he said.
Meanwhile, Diamond Palace chairman Datuk Thein Than said: “There is an 80,000 addressable market in [the] near term [in the event the travel ban is lifted]. We are committed to explore new ways to operate more efficiently and effectively.”
“We look forward to this collaboration with Parlo as we like Parlo [for] their international footprint and their vision towards digital transformation. We are confident that this project will be a huge success and opens a pathway for other joint ventures in future. This is an ongoing effort to facilitate and ensure Diamond Palace’s commitments to the Ministry of Labour, Immigration and Population of Myanmar are delivered as planned,” said Thein.
Parlo offers comprehensive and diverse travel packages and tour services for both leisure and corporate travels.
At noon break, Parlo shares fell 2.5 sen or 4.55% to 52.5 sen, valuing the group at RM191.12 million.