Afiq BaharTold all already. Dead counter.. PN17 coming. Keep ur cash.
khatulistiwa1234APFT BERHAD DEFAULT IN PAYMENT (PARAGRAPH 9.19A) The Board of Directors of APFT Berhad ("APFT" or the "Company") wishes to announce on the default in payments as follows: Company Creditor Description Amount due Date of Default Asia Pacific Flight Training Sdn. Bhd. Public Bank Berhad Fixed Loan Facilities - 1 Fixed Loan Facilities - 2 RM746,986 RM550,838 18 October 2016 18 October 2016 R eason for the default in payment Insufficient of funds to service the Term Loans due to significant decline in business. M easures taken the Company to address the default in payment The Company ha s commenced negotiation with the financial institutions to restructure the loans and also taking relevant measure to raise funds. L egal implications of the default in payment including the extent of the Company’s liability in respect of the obligations incurred under the agreements for the indebtedness The banker ha s issued legal notice to recall the loan for both loan facilities. B usiness, financial and operational impact of the default in payment on the Company The default has no material impact on APFT. Whether the default in payment constitutes an event of default under a different agreement for indebtedness (cross default) Not Applicable . W hether the subsidiary or associated company is a major subsidiary or major associated company The default in payment is on the loans taken by a major subsidiary Solvency declaration The Board of Directors of the Company , after having inquired into the affairs of the Company, is of the opinion that the Company is able to provide Bursa Securities a Solv ency Declaration pursuant to Paragraph 9.19A(4) of the Main Market L isting R equirements as the Company is solvent. This announcement is dated 6 December 2016