This is a Palmer carom cue from overseas. circa 1999, and is unrelated to the sought-after Palmer cues from the USA.
I have read that they are made at the Kao-Kao factory (a generally high-quality mass-production cue manufacturer), but have not been able to verify that.
They aren't worth much (think, well-under $100).
Another user here, @type79, put it best:
This cue and others like it are "Palmer" cues only because someone who imports them from China has applied a label bearing the name "Palmer". When the Palmer shop closed in 1994, nothing bearing that name had any relationship with the originals.
The company behind this particular "Palmer" line is from Taiwan
PALMER INDUSTRIES INC.
4F-2, No.497 Jung Jeng Road, HsinTien City
Taipei, Taiwan, ROC
The distributor in North Ameria (for this particular line of "Palmer" cues is/was Wanston Trading (an import company based out of British Columbia, Canada, run by Chao Yung Chuang, and likely the same person/company importing Wanston Sports pool cues:
Wanston Trading Inc.
8007 Elliott St
Vancouver, BC V5S 2P3 Canada
Chao Yung Chuang