Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 23): Bursa Malaysia has issued an unusual market activity query to APFT Bhd after the stock fell as low as 10.71% in early trades today.

At 10.07am, the stock shed as much as 1.5 sen to 12.5 sen before paring losses and settling at 13 sen. A total of 8.52 million shares were traded.

The stock is trading near its all-time low of 11.5 sen, reached on Feb 27 last year.

Bursa Malaysia has asked the company to make public any corporate development that has been previously not announced, any rumour or report concerning the company's business and affairs that may account for the trading activity or any other explanation that may justify the trading of the stock.

APFT is the first aviation education and training service provider to be listed on Bursa Malaysia on March 18, 2011.

According to its latest financial results, APFT slipped into the red in the second quarter ended Sept 30, 2015 (2QFY16), recording a net loss of RM7.23 million or 2.02 sen per share from a net profit of RM26,000 a year ago due to a sharp fall in revenue.

Revenue declined 15 times to RM1.59 million in 2QFY16 from RM24.41 million in 2QFY15 due to lower contribution from associate PT Tecnic (M) Sdn Bhd.

For the full six months (1HFY16), APFT recorded a net loss of RM9.1 million or 2.58 sen per share compared to a net profit of RM29,000 or 0.01 sen per share while revenue declined 72.55% to RM14.45 million from RM52.65 million in 1HFY15.

 

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