【APFT 5194 交流专区】亚太飞行训练

icy97

Date of change	31 Mar 2017
Name	MR TAN WIN SEN
Age	34
Gender	Male
Nationality	Malaysia
Type of change	Redesignation
Previous Position	Executive Director
New Position	Non Executive Director
Directorate	Non Independent and Non Executive

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Date of change	07 Apr 2017
Name	MR LEE ENG THONG
Age	54
Gender	Male
Nationality	Malaysia
Designation	Executive Director
Directorate	Executive
Type of change	Resignation
Reason	Due to other personal commitment which require his full attention

icy97

APFT子公司
遭索赔28万

2017年6月3日
（吉隆坡2日讯）APFT（APFT，5194，主板贸服股）独资子公司亚太飞行训练（Asia Pacific Flight Training）私人有限公司，被指不正当地终止协议，而遭到起诉。

该公司表示，起诉人纳迪亚阿迪，在2015年7月2日，针对不正当终止有关飞行员课程的协议，向APFT提出诉讼，寻求28万令吉的损失赔偿。

APFT在昨天向交易所报备，亚太飞行训练在2014年12月，终止纳迪亚阿迪的训练课程，不允许后者完成课程获得文凭，违反2012年协议。

APFT表示将会全力辩护，早前也已经成功在2件相似案件中成功辩护，且不会影响公司财务和运营。【e南洋】

icy97

Type	Announcement
Subject	OTHERS
Description	APFT BERHAD (APFT OR THE COMPANY)DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS (MMLR) OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES)
1.         Date of default in payment The Company wishes to announce that Asia Pacific Flight Training Sdn Bhd (Company No. 534715-H)(In Receivership)(“APFTSB”), an indirect wholly-owned subsidiary of the Company has defaulted in its repayment as follows : Creditor Description Amount due (RM) Date of default CIMB Factorlease Berhad (“CIMBFL”) Industrial Hire Purchase Agreement No. KL1/HA/121110387 482,109.93 28 April 2016 2.         Reasons for the default in payment Insufficient of funds to service the Term Loans due to significant decline in business. 3.         Measures by the Company to address the default in payment Upon the negotiation between CIMBFL and the Company, CIMBFL had via its letter dated 16 May 2017 agreed to accept the principal sum of RM482,109.93 as a full and final Settlement Sum of the amounts owing under the CIMBFL’s Writ and Statement of Claim vide Kuala Lumpur Sessions Court Suit No. WA-B52NCC-998012/2016 payable in the following manner : i) RM48,200.00 to be paid on or before 31 May 2017 ii) RM433,909.93 to be paid on or before 30 August 2017 As agreed above, the Company shall made the first payment of RM48,200.00 on or before 31 May 2017. The balance of RM433,909.93 is expected to be paid before 30 August 2017. The Company has taken measures to restructure its operations by merging both the fixed wing and helicopter training which were located in 2 different locations (Ipoh and Kota Bahru) into its branch in Ipoh. The relocation of the said operation is not expected to have any material impact on the Company’s operation and will enable a cost saving of approximately RM100,000 per month from rental expenses, overhead and other expenses. In addition, the Company is also in the midst of negotiating with several parties to rent out its idling flight simulators and aircrafts. As of to-date, the Company has rented out an aircraft with rental income of RM30,000 per day to generate new source of income. In addition, APFT is also in the midst of negotiating with 3 potential buyers to dispose of 3 units of its obsolescence aircrafts for an estimated disposal consideration of RM1.2 million. The said negotiation is expected to be finalised by fourth quarter of 2017. 4.         The  legal  implications  of  the  default  including  the  extent  of  the  Company’s liability  in  respect  of  the  obligations  incurred  under  the  agreements  for  the Indebtedness CIMBFL had on 5 December 2016 issued legal notice to recall the loan for the loan facilities. 5.         The business, financial and operational impact of the default in payment The default has no material impact on APFT. 6.         Whether the default in payment constitutes an event of default under a different agreement for indebtedness (cross default) and the details for such other default, where applicable Not Applicable. 7.         Whether the subsidiary company which has defaulted is a major subsidiary company APFTSB is a major subsidiary of the APFT. 8.         Whether the Company is Solvent The Board of Directors of the Company, after having inquired into the affairs of the Company, is of the opinion that the Company is able to provide Bursa Securities a Solvency Declaration pursuant to 9.19A(4) of the MMLR of Bursa Securities as the Company will be able to pay all its debts as and when they fall due within the period of 12 months from the date of this announcement. This announcement is dated 29 May 2017.

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Apr 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Apr 2017	30 Apr 2016	30 Apr 2017	30 Apr 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	14,698	0	50,499	0
2	Profit/(loss) before tax	-380	0	-7,901	0
3	Profit/(loss) for the period	-407	0	-7,930	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	-2,678	0	-9,541	0
5	Basic earnings/(loss) per share (Subunit)	-0.49	0.00	-1.74	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0200		0.0300

Remarks :

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Name	SUNCITY ENTERTAINMENT LTD
Address	P.O. Box 1239 Offshore Incorporation Centre Victoria Mahe Seychelles.
Company No.	152970
Nationality/Country of incorporation	Seychelles
Descriptions (Class)	Ordinary Shares
Name & address of registered holder	Suncity Entertainment Ltd.P.O. Box 1239Offshore Incorporation CentreVictoria MaheRepublic of Seychelles

Date interest acquired & no of securities acquired
Date interest acquired	21 Jun 2017
No of securities	30,474,900
Circumstances by reason of which Securities Holder has interest	Acquisition of shares via open market
Nature of interest	Direct Interest
Total no of securities after change
Direct (units)	30,474,900
Direct (%)	5.55
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Date of notice	30 Jun 2017
Date notice received by Listed Issuer	05 Jul 2017

No	Date of change	No of securities	Type of Transaction	Nature of Interest
1	23 Jun 2017	10,000,000	Acquired	Direct Interest
	Name of registered holder	Suncity Entertainment Ltd
	Address of registered holder	P.O.Box 1239 Offshore Incorporation Centre Victoria Mahe, Republic of Seychelles
	Description of "Others" Type of Transaction
2	26 Jun 2017	10,000,000	Acquired	Direct Interest
	Name of registered holder	Suncity Entertainment Ltd
	Address of registered holder	P.O.Box 1239 Offshore Incorporation Centre Victoria Mahe, Republic of Seychelles
	Description of "Others" Type of Transaction
3	27 Jun 2017	4,545,300	Acquired	Direct Interest
	Name of registered holder	Suncity Entertainment Ltd
	Address of registered holder	P.O.Box 1239 Offshore Incorporation Centre Victoria Mahe, Republic of Seychelles
	Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred	Suncity Entertainment Ltd.P.O. Box 1239Offshore Incorporation CentreVictoria MaheRepublic of Seychelles
Nature of interest	Direct Interest
Direct (units)	55,020,200
Direct (%)	10.02
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Total no of securities after change	55,020,200
Date of notice	30 Jun 2017
Date notice received by Listed Issuer	05 Jul 2017

icy97

Date of change	02 Aug 2017
Name	MR EDWIN SILVESTER DAS
Age	59
Gender	Male
Nationality	Malaysia
Designation	Executive Director
Directorate	Executive
Type of change	Appointment
Qualifications	Bachelors of Science  Business & AdministrationSouthern Illinois University at Carbondale, USAGraduated on Deans List
Working experience and occupation	Edwin Silvester Das had a proliferated banking career for more than 25 years and has been exposed to both commercial and investment banking, risk management, restructuring and corporate finance both locally and abroad. He was a Director of Charter One Bank in South Sudan where he took the bank to greater heights.He has vast experience and skills in restructuring and risk management, and has been exposed to various industries.
Directorships in public companies and listed issuers (if any)	MQ Technology Berhad

icy97

Date of change	02 Aug 2017
Name	ENCIK ARIF BIN FARUK
Age	41
Gender	Male
Nationality	Malaysia
Designation	Director
Directorate	Executive
Type of change	Resignation
Reason	Due to his other personal commitments
Details of any disagreement that he/she has with the Board of Directors	No
Whether there are any matters that need to be brought to the attention of shareholders	No
Qualifications
Working experience and occupation
Family relationship with any director and/or major shareholder of the listed issuer	He is the son of Dato' Faruk Bin Othman, the Executive Chairman of APFT Berhad
Any conflict of interests that he/she has with the listed issuer	No
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest - 300,000 ordinary shares Indirect interest :- - Deemed interest via Forad Holdings Sdn. Bhd's (5,745 Ordinary Shares), his father, Dato' Faruk Bin Othman's (77,535,422 Ordinary Shares), his siblings, Aida Binti Faruk's (211,000 Ordinary Shares) and Aisyah Binti Faruk's (250,000 Ordinary Shares) direct sharesholdings in the Company.

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Notice of Interest Sub. S-hldr (Section 137 of CA 2016)

APFT BERHAD

Particulars of Substantial Securities Holder

Name	MR GOH BOON SOO @ GOH YANG ENG
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	Ordinary Shares
Name & address of registered holder	Goh Boon Soo @ Goh Yang Eng No 25, Lorong Maarof Satu, Bangsar Park,59000 Kuala Lumpur

Date interest acquired & no of securities acquired
Date interest acquired	02 Aug 2017
No of securities	20,000,000
Circumstances by reason of which Securities Holder has interest	Acquisition of shares via open market
Nature of interest	Direct Interest
Total no of securities after change
Direct (units)	29,027,000
Direct (%)	5.29
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Date of notice	04 Aug 2017
Date notice received by Listed Issuer	04 Aug 2017

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Notice of Person Ceasing (Section 139 of CA 2016)

APFT BERHAD

Particulars of Substantial Securities Holder

Name	MR GOH BOON SOO @ GOH YANG ENG
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	Ordinary Shares
Date of cessation	03 Aug 2017
Name & address of registered holder	Goh Boon Soo @ Goh Yang Eng No 25, Lorong Maarof Satu, Bangsar  Park, 59000 Kuala Lumpur

No of securities disposed	3,000,000
Circumstances by reason of which a person ceases to be a substantial shareholder	Disposal of shares via open market
Nature of interest	Direct Interest
Date of notice	04 Aug 2017
Date notice received by Listed Issuer	04 Aug 2017

icy97

重组业务
APFT放眼2年转盈

2017年8月15日
（吉隆坡14日讯）正在蒙受亏损的APFT（APFT，5194，主板贸服股），正在着手进行重组计划，可能会置入新业务取代当前核心业务，并冀望在不到两年转亏为盈。

根据《新海峡时报》报道，执行董事埃德温西尔维斯特指出，尽管APFT按年亏损，但依然有很大的潜在增长。

他也说，计划正在进行中，希望在不到两年的时间内，公司可以恢复获取盈利。

此外，他不排除会有新业务取代现有核心业务的可能。

APFT的核心业务是为民航提供培训、教育和服务。

APFT自2012年起陷入亏损，反映净利表现的股价，也一直处于下跌趋势。

曾担任微领科技（MQTECH，0070，创业板）执行董事一职的埃德温西尔维斯特，将协助APFT扭转颓势。【e南洋】

icy97

APFT BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Others
Details of corporate proposal	CREDITORS CAPITALISATION
No. of shares issued under this corporate proposal	226,299,873
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.0500
Par Value($$) (if applicable)	Malaysian Ringgit (MYR)   0.000
Latest issued share capital after the above corporate proposal in the following
Units	775,132,658
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 38,756,632.900
Listing Date	18 Aug 2017
2. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Others
Details of corporate proposal	DIRECTORS CAPITALISATION
No. of shares issued under this corporate proposal	257,500,000
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.0500
Par Value($$) (if applicable)	Malaysian Ringgit (MYR)   0.000
Latest issued share capital after the above corporate proposal in the following
Units	1,032,632,658
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 51,631,632.900
Listing Date	18 Aug 2017

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Name	DATO' FARUK BIN OTHMAN
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	Ordinary shares

Details of changes

No	Date of change	No of securities	Type of Transaction	Nature of Interest
1	16 Aug 2017	240,000,000	Others	Direct Interest
	Name of registered holder	DATO' FARUK BIN OTHMAN
	Address of registered holder	NO. 11 JALAN SETIAMURNI 6 BUKIT DAMANSARA 50490 KUALA LUMPUR
	Description of "Others" Type of Transaction	CAPITALISATION
2	16 Aug 2017	17,500,000	Others	Indirect Interest
	Name of registered holder	ARIF BIN FARUK
	Address of registered holder	48, JALAN SERI BERINGIN 3 BUKIT DAMANSARA 50490 KUALA LUMPUR
	Description of "Others" Type of Transaction	CAPITALISATION
3	18 Aug 2017	596,700	Disposed	Indirect Interest
	Name of registered holder	ARIF BIN FARUK
	Address of registered holder	48, JALAN SERI BERINGIN 3 BUKIT DAMANSARA 50490 KUALA LUMPUR
	Description of "Others" Type of Transaction
4	18 Aug 2017	211,000	Disposed	Indirect Interest
	Name of registered holder	AIDA BINTI FARUK
	Address of registered holder	57, CHANGKAT HARTAMAS 2 HARTAMAS HEIGHTS 50480 KUALA LUMPUR
	Description of "Others" Type of Transaction
5	23 Aug 2017	132,691,500	Disposed	Direct Interest
	Name of registered holder	DATO' FARUK BIN OTHMAN
	Address of registered holder	NO. 11 JALAN SETIAMURNI 6, BUKIT DAMANSARA, 50490 KUALA LUMPUR
	Description of "Others" Type of Transaction
6	24 Aug 2017	107,380,500	Disposed	Direct Interest
	Name of registered holder	DATO' FARUK BIN OTHMAN
	Address of registered holder	NO. 11 JALAN SETIAMURNI 6 BUKIT DAMANSARA 50490 KUALA LUMPUR
	Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred	1) Acquire of shares via directors capitalisation2) Disposal of shares via open market
Nature of interest	Direct and Indirect Interest
Direct (units)	77,463,422
Direct (%)	7.5
Indirect/deemed interest (units)	17,459,054
Indirect/deemed interest (%)	1.69
Total no of securities after change	94,922,476
Date of notice	25 Aug 2017
Date notice received by Listed Issuer	25 Aug 2017

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Change in Financial Year End

APFT BERHAD

Old financial year end	31 Jul 2017
New financial year end	30 Sep 2017

Remarks :

The Board of Directors of APFT Berhad ("the Company") has approved the change of financial year end of the Company from 31 July to 30 September. Following the change of financial year ended, the next financial statements will be made up from 1 August 2016 to 30 September 2017 covering a period of 14 months. Thereafter, the financial year end of the Company shall end on 30 September for each subsequent year.

icy97

APFT BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Private Placement
Details of corporate proposal	APFT BERHAD ("APFT") PRIVATE PLACEMENT
No. of shares issued under this corporate proposal	206,526,000
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.0194
Par Value($$) (if applicable)	0.000
Latest issued share capital after the above corporate proposal in the following
Units	1,239,158,658
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 55,638,237.300
Listing Date	25 Sep 2017

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Jul 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		Three Months	Three Months	Twelve Months	Twelve Months
		01 May 2017 To	01 May 2016 To	01 Aug 2016 To	01 Aug 2015 To
		31 Jul 2017	31 Jul 2016	31 Jul 2017	31 Jul 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	10,905	0	61,405	0
2	Profit/(loss) before tax	1,490	0	-6,411	0
3	Profit/(loss) for the period	1,490	0	-6,440	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	-781	0	-10,322	0
5	Basic earnings/(loss) per share (Subunit)	-0.14	0.00	-1.88	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0200		0.0300

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Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	APFT Berhad ("APFT" or "the Company")PROPOSED DISPOSAL OF 100% EQUITY SHARES IN APFT MAINTENANCE TRAINING SDN. BHD. ("APFTMT"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
The Board of Directors of APFT BERHAD (“APFT” or “the Company”) wishes to announce that Asia Pacific Flight Training Sdn Bhd (“APFTSB” or “the Vendor”), an indirect wholly-owned subsidiary of the Company, had 6 October 2017 entered into a Share Sale Agreement (“SSA”) with Paradigm Portfolio Sdn. Bhd. (926329-A) of 1-06, Jalan Bazaar, U8/101, Bukit Jelutong, 40150 Shah Alam, Selangor (“the Purchaser” or “PPSB”) for the disposal of 100% equity shares in APFTMT, representing 3,000,000 ordinary shares of APFTMT(“the Sale Shares”), for a total cash consideration of RM20,000.00 (“Disposal Consideration”) upon  the terms and conditions stated in the SSA (“Proposed Disposal”). Upon completion of the Proposed Disposal, APFTMT will cease to be an indirect wholly-owned subsidiary of the Company. Please refer the details of announcement as attached. This announcement is dated 10 November 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5599897

Attachments APFT-Disposal subsidiary (for bursa release).pdf

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APFT执行主席辞职

2017年11月24日
（吉隆坡23日讯）APFT（APFT，5194，主板贸服股）宣布，拿督法鲁奥曼已在本月6日辞去执行主席职务，因为他不再是公司的大股东。

该公司向交易所报备，法鲁奥曼不再是公司大股东，及没有财务及营运管理控制权。

由于他不想为管理层采取的任何行动及决定负责任，所以决定辞职。

在法鲁奥曼卸辞职后，董事部至今仍未找到担任执行主席的合适人选，暂时将由执行董事埃德温西尔维斯特接手管理角色。

同时，APFT指出，法鲁奥曼也针对埃德温西尔维斯特处理前任执行董事阿里夫的辞职事件意见不合。

阿里夫是法鲁奥曼的儿子，已在8月2日辞去执行董事职务。【e南洋】

Date of change	06 Nov 2017
Name	DATO FARUK BIN OTHMAN
Age	69
Gender	Male
Nationality	Malaysia
Designation	Chairman
Directorate	Executive
Type of change	Resignation
Reason	Dato' Faruk Bin Othman was no longer the majority shareholder of the Company and he have no control over the financial and operational management of the Company.  He does not wish to be responsible for whatever action and decision made by the management .
Details of any disagreement that he/she has with the Board of Directors	Disagreement with the executive director Edwin Das over Arif and his resignation from the subsidiary companies which were not effected by the Company Secretary on instruction by Mr Edwin which are awaiting SSM confirmation on their resignation.
Whether there are any matters that need to be brought to the attention of shareholders	No
Qualifications
Working experience and occupation
Family relationship with any director and/or major shareholder of the listed issuer	Nil
Any conflict of interests that he/she has with the listed issuer	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct Interest - 77,463,422 (6.25%)Indirect Interest - 11,459,054 (0.92%)

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APFT BERHAD

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-14112017-00001
Subject	Proposed disposal of 100% equity shares in APFT Maintenance Training Sdn. Bhd. ("APFTMT") (Proposed Disposal)
Description	APFT BERHAD (AIM or The Company)PROPOSED DISPOSAL OF 100% EQUITY SHARES IN APFT MAINTENANCE TRAINING SDN. BHD.("APFTMT") (PROPOSED DISPOSAL)
Query Letter Contents	We refer to your Company’s announcement dated 10 November 2017 in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1)    To clarify as to why the disposal consideration is payable to APFTMT directly instead of the vendor of APFTMT. 2)    To clarify “confirmation … pricing of the Sale Shares” in the condition precedent. 3)    To incorporate information on the financial performance of APFTMT including net profits and net assets based on the latest audited financial statement and latest quarterly results. 4)    To state the basis of arriving at the disposal consideration of RM20,000. 5)    To state the basis of arriving at the negative net worth of RM594,421.26 of APFTMT. 6)    To incorporate the terms of payment of the disposal consideration of RM20,000. 7)    To state whether the Proposed Disposal is expected to result in APFT becoming a Cash Company or a PN17 Issuer. 8)     To incorporate the financial effects of the Proposed Disposal for the financial year ending 30 September 2018.
(The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the Company’s announcement made on 10 November 2017 in relation to the Proposed Disposal.) Reference is made to the Company’s announcement made on 10 November 2017. The Board of Directors of APFT Berhad (“APFT” or “the Company”) wishes to provide the following additional information: 1.            To clarify as to why the disposal consideration is payable to APFTMT directly instead of the vendor of APFTMT. There was a typo error in the Company’s announcement made on 10 November 2017.  The Disposal Consideration was paid to Asia Pacific Flight Training Sdn Bhd instead of AFPTMT. 2.            To clarify “confirmation … pricing of the Sale Shares” in the condition precedent. The Board Chairman, Dato’ Faruk with the support from the board deliberated the on the disposal of the subsidiary. The Board concluded that since the Company was generating losses and the perspective buyer’s willingness to absorb all the liabilities and therefore the principle of willing buyer willing seller was applied. 3.            To incorporate information on the financial performance of APFTMT including net profits and net assets based on the latest audited financial statement and latest quarterly results.                 Based on latest audited financial statement of APFTMT for the financial year ended 31 July 2016, APFTMT recorded a net loss of (RM1,067,671) and net assets of RM970,639 respectively Based on the Company’s latest quarterly result for the quarter ended 31 July 2017 which announced to Bursa Malaysia Securities Berhad on the 29 September 2017, the net loss is RM328,688 and the net liabilities of RM594,421 respectively. 4.            To state the basis of arriving at the disposal consideration of RM20,000.                 The APFTMT was a loss-making subsidiary for the last 3 years and as such it was not contributing to the Group. 5.            To state the basis of arriving at the negative net worth of RM594,421.26 of APFTMT.                 The Net Worth was calculated using Unaudited 31 July 2017 Quarterly results and it was derived using the following formula a.            Shareholders Equity       =             Share Capital + Retained Earnings =             RM3, 000,000 – RM3, 594,421 =             (RM594, 421.26)) 6.            To incorporate the terms of payment of the disposal consideration of RM20,000.                 The payment of the disposal consideration of RM20,000 was paid to Asia Pacific Flight Training Sdn. Bhd. by Bankers Cheque. 7.            To state whether the Proposed Disposal is expected to result in APFT becoming a Cash Company or a PN17 Issuer.                 The Board was of the opinion that proposed disposal would not affect APFT becoming neither a Cash company or PN17 Issuer. 8.            To incorporate the financial effects of the Proposed Disposal for the financial year ending 30 September 2018.                 As at 30 September 2017, the said subsidiary did not have any contracts as such with them defaulting on the existing contracts. The Board expected that there will not be any new contracts as this subsidiary has lost its reputation in performing its contractual obligations. Therefore, the Board believes there would not be any financial affect during the next financial year ending 30 September 2018. 9.            To clarify as to why the estimated timeframe for completion stated by 15 October 2017 which the announcement was made on 10 November 2017                 This was due to the miscommunication between APFT Behad and the Company Secretary. This announcement is dated 21 November 2017.

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Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	APFT BERHAD ("APFT" or "The Company")PROPOSED ACQUISITION OF 20% EQUITY INTEREST IN AVIATION A.I. INC. ("AAI") BY APFT SERVICES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF APFT
The Board of Directors of APFT Berhad (“APFT” or “the Company” wishes to announce that APFT Services Sdn Bhd (“APFT Services” or “the Purchaser”), a wholly-owned subsidiary of APFT, had on 29 November 2017, entered into a conditional share sale agreement (“SSA”) with Dato’ Sri Teh Chee Teong (“Vendor”) for the acquisition of 200 common shares representing 20% equity interest in Aviation A.I. Inc. (“Sale Shares”) for a cash consideration of RM3,200,000 (“Proposed Acquisition”). The full text of the announcement is attached herewith. This announcement is dated 29 November 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5621961

Attachments APFT-Proposed Acquisition Aviation A. I. Inc (for bursa release).pdf