With the modern software, beautiful charts can be produce by syndicates, so don't trust the chart too much, u will landed yourself into trouble. In bear market ,chart is of less help.
Too many people after obtaining pilot's license are still without job. Over saturated market. Flight schools like APFT are not doing well because of over saturation.
@martin555, i know you holding lots of apft at higher prices. Keep buying and best of luck to you. I am just giving my opinions why it's not going to make money. It could go down to 3 cents.
WOW!! HISTORIC LOW. KEEP BUYING GUYS!! But am staying out as had lost a lot previous years buying theses type of shares. In fact, still holding stocks that have been delisted long ago until now. Gotta learn from bad experiences.
WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR APFT BERHAD APPOINTMENT OF RECEIVERS AND MANAGERS IN ASIA PACIFIC FLIGHT TRAINING SDN. BHD. APFT BERHAD
Type Announcement Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Description
APFT BERHAD APPOINTMENT OF RECEIVERS AND MANAGERS IN ASIA PACIFIC FLIGHT TRAINING SDN. BHD.
The Board of Directors of APFT Berhad ("APFT" or the "Company") wishes to announce that Asia Pacific Flight Training Sdn Bhd, an indirect wholly owned subsidiary of APFT, has on 24 August 2016 received a Notice of Appointment of Receiver and Manager dated 24 August 2016 by Kuwait Finance House (Malaysia) Berhad.
Please refer to the attachment for further details of announcement.
PFT BERHAD APPOINTMENT OF RECEIVERS AND MANAGERS IN ASIA PACIFIC FLIGHT TRAINING SDN. BHD. The Board of Directors of APFT Berhad ("APFT" or the "Company") wishes to announce that Asia Pacific Flight Training Sdn Bhd (“APFTSB”), an indirect wholly owned subsidiary of APFT, has on 24 August 2016 received a Notice of Appointment of Receiver and Manager dated 24 August 2016 by Kuwait Finance House (Malaysia) Berhad (“KFH”). Mohamed Roslan Abdul Rahman and Chan Siew Mei of KPMG Deal Advisory Sdn. Bhd. were the appointed Receivers and Managers (“R&M”) of the Property of APFTSB under the power contained in the Debenture dated 14 November 2008, 1 August 2011, 21 June 2012 and 9 February 2015. Date of appointment The appointment of Receivers and Managers on 24 August 2016. Information on APFTSB APFTSB is a private company limited by shares incorporated in Malaysia under the Companies Act, 1965 on 13 December 2000 under its previous name Flight Training Systems Sdn. Bhd., subsequently changed its name to Forad Systems Sdn. Bhd. on 11 July 2005, Subang Flight Training Sdn. Bhd. on 15 September 2005, Forad Aerospace Sdn. Bhd. on 11 November 2005 and adopting its present name on 26 July 2006. The authorized share capital is RM25,000,000.00 comprising of 25,000,000 ordinary shares of RM1.00 each and its existing issued and paid up capital is RM25,000,000.00 comprising of 25,000,000 ordinary shares of RM1.00 each APFTSB’s business address is at Suite 50-5-5, 5th Floor, Wisma UOA Damansara, 50 Jalan Dungun, Bukit Damansara, 50490 Kuala Lumpur. APFTSB is principally engaged in flight training and is an Approved Flight Training Organisation under the Department of Civil Aviation Malaysia. The immediate holding company and ultimate holding company of APFTSB are APFT Aviation Sdn. Bhd. and APFT respectively. Confirmation as to whether the subsidiary is a major subsidiary Based on the audited financial statements ended 31 March 2015, APFTSB is not a major subsidiary of APFT as defined under Chapter 1 of the Main Market Listing Requirements. Net Book Value of the affected Assets Based on the audited financial statements ended 31 March 2015, the net book value of the charged assets was RM16,207,101.59.
The details of the events leading to the appointment of the receivers and managers APFTSB has an outstanding loan of RM4,153,331.08 with KFH and has negotiated to pay in full from sales of aircraft to PT. Trans Asia Pacific Aviation Training (“TAPAT”) in Indonesia. However, the payment from TAPAT is delayed and KFH has decided to exercise their Debenture on the assets and appointed the R&M. The financial and operational impact of the aforesaid appointment With effect from the appointment of the R&M, APFTSB shall cease to have power to deal with property and assets of APFTSB, comprised in or subject to the charges contained in the Debenture. No one shall have any power, authority, rights whatsoever to operate, remove, relocate, dispose and/or otherwise deal with the charged assets in any manner unless sanction in writing is given by the R&M. The operational and financial matters are now at the discretion of the R&M. Nonetheless, all other statutory obligations of the Directors of APFTSB still remains. The appointment of the R&M has no immediate effect on the remaining business and operations of APFT Group. The expected losses, if any, arising from the aforesaid appointment The appointment of R&M will not have any additional financial and operational impact on the Group and the Company is not expected to incur any further loss arising from the aforesaid appointment. The steps taken or proposed to be taken by APFT in respect of the aforesaid appointment The Company has taken steps earlier to dispose of assets to obtain the funds to pay KFH. The sale of TAPAT and aircraft in Indonesia has taken place and only waiting for the proceeds which is expected at the end of August 2016. The amount of the sale proceeds is RM3,486,963 and the shortfall of RM666,368.08 will be covered by another sale of assets from a company (“Interest Company”) of which the executive director has interest. The Sales and Purchase Agreement stipulated payment will be in the Interested Company by end of September 2016.
tklim is giving the real picture not half story...Read carefully
Based on the audited financial statements ended 31 March 2015, the net book value of the charged assets was RM16,207,101.59.
The details of the events leading to the appointment of the receivers and managers APFTSB has an outstanding loan of RM4,153,331.08 with KFH and has negotiated to pay in full from sales of aircraft to PT.
martin, you still haven't explain your parabolic and base 1,2,3, 4 analysis. Please explain so that those convinced afpt can go sky high will also follow your buying.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
swingtrader2
132 posts
Posted by swingtrader2 > 2016-08-24 09:55 | Report Abuse
Big wave to 4.5 cents is coming.