Tuesday, February 13, 2007

Reliance Pacific aims for RM40mil in Revenue from Travel Packages

KUALA LUMPUR: Reliance Pacific Bhd expects to achieve RM40mil in revenue from its online shop in the financial year ending March 31, 2008, thanks to the launch of booking-friendly portal www.malaysiaworld.com.my.

Group chief executive officer Datin Irene Gan said the new portal group planned to sell at least 30,000 travel packages in its first year of operations and double the figure the following year, boosting Reliance's top-line growth for the next two years.

“With our wide distribution network and scalable online capabilities, we are well poised to achieve record number of domestic tourists, revenue and profits,” she said after the launch of Malaysia World by Deputy Tourism Minister Datuk Donald Lim yesterday.

Gan said Malaysia World was designed to promote the country as a premier tourist destination and to offer unique as well as affordable travel experience for Malaysians.

Malaysia World will initially offer more than 300 travel products under six lifestyle categories and they will eventually be increased to more than 1,000 by end-2008.

Reliance, which embarked on providing products and services particularly online booking via the Internet in 2000, achieved RM25mil in revenue from its online shop in the first nine months of the financial year ended Dec 31, 2006, she said.

The travel division accounts for 80% to 90% of the RM300mil annual sales turnover achieved by the group, which is also involved in hotels and resorts. Due to strong performance from all business divisions, Reliance's net profit for the third quarter ended Dec 31, 2006 almost doubled to RM9.88mil.

Source : STAR
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