KUALA LUMPUR (Jan 5): Loss-making flight education and training service provider APFT Bhd's shares plunged 16.67% after its indirect subsidiary PT Technic (M) Sdn Bhd was served with a winding-up order.

At midday break, APFT fell 0.5 sen to 2.5 sen, with 15.61 million shares done. In a year, the stock has fallen 37.5%.

Yesterday, APFT said P3 Technology Engineering Sdn Bhd served the order to PT Technic for failing to pay RM1.5 million, following an April 5, 2017 settlement agreement entered into between the two companies.

APFT said as the alleged debt has been incorporated in the financial statements, the financial impact from the order is the loss of investment in PT Technic. There is no impact on the operation of APFT Group.