Stock With Momentum: APFT Bhd

This article first appeared in The Edge Financial Daily, on July 13, 2018.
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APFT Bhd (+ve)
TRADING of the shares in flight educator and training service provider APFT Bhd (fundamental: 0/3, valuation: 0/3), triggered our proprietary momentum algorithm yesterday for the first time since January this year.

The stock closed 0.5 sen or 25% higher at 2.5 sen with a volume of 62.97 million shares, exceeding its 200-day average volume of 8,843,862 shares.

On June 26, 2018, Adam & Co, the external auditors of APFT, issued a statement expressing the material uncertainty related to group’s ability to continue as a going concern.

The auditors highlighted that APFT incurred a net loss of RM67.57 million during the financial period between Aug 1, 2016 and Jan 31, 2018, and a negative operating cash flow of RM8.39 million as at Jan 31, 2018.

Its net asset stood at -1 sen per share as at March 31, 2018.