KUALA LUMPUR: Parlo Bhd ’s shares surged 120% in early trade on Thursday after it has been taken off the Guidance Note 3 (GN3) classification by Bursa Malaysia Securities.

The counter surged 120%, or 12 sen to 22 sen with over 14.7 million shares traded.

Parlo develops and operates Internet based automatic vehicle locating systems using satellite and wireless telecommunication solutions.

In a statement, Bursa Malaysia Securities said Parlo has regularised its financial condition and level of operations, and therefore no longer triggers any of the criteria under  Paragraph 2.1 of GN3 of the ACE Market Listing Requirements.

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