Date: 29 May 2017

OTHERS APFT BERHAD ("APFT" or "the Company") - Monthly Announcement on the Status of Defaults in Payment pursuant to Paragraph 9.19A of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad


Type Announcement
Subject OTHERS
Description APFT BERHAD ("APFT" or "the Company") - Monthly Announcement on the Status of Defaults in Payment pursuant to Paragraph 9.19A of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad

Further to the Company's announcement made on 6 December 2016 made pursuant to Paragraph 9.19A of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities") in relation to the default in payment by its subsidiary, Asia Pacific Flight Training Sdn. Bhd. ("AFPTSB") in respect of the fixed term loan facilities ("Defaults in Payment")("Earlier Announcement"). Unless otherwise stated, the definitions used throughout this announcement shall have the same meanings as defined in the Earlier Announcement.

The Board of Directors of the Company wishes to announce that the Company has accepted the Bank's proposal as per the banks letter dated 23 March 2017 in which APFTSB is required to make full settlement of the arrears for Fixed Loan Facilities 2 amounting to RM49,255.26 and which was done so by APFT SB on the 3 April 2017.  As for Fixed Loan Facilities 1, APFTSB is still in negotiation with the bankers to make the settlement of the arrears as stated in the bank's letter dated 11 April 2017 by 31 May 2017. In the meantime, the Court has directed both parties as follows:

1. Both parties to file submission simultaneously by 2 June 2017

2. Parties to file submission in reply by 16  June 2017

3. Hearing is fixed on 20 June 2017

Further announcement on the development of the above matter will be made to Bursa Securities in due course.

This announcement is dated 29 May 2017.





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