APFT Berhad is a Malaysia-based company. The Company own and operate flight education and training academy, the Asia Pacific Flight Training Academy. The company operates three 3 commercial airports in Malaysia and two flight simulators which is the Alsim MCC and the Alsim AL200 MCC and the Alsim AL200 DA42. The Company also offer a non-bank remittance services through APFT Express. The Company's subsidiaries include APFT Services, APFT Engineering and APFT Maintenance Training. APFT Services provide chartered commercial flight services targeted at unscheduled flights requirements.
member41CIRCULAR TO SHAREHOLDERS IN RELATION TO THE (I)\PROPOSED SETTLEMENT OF DEBT OWING TO DATO' FARUK BIN OTHMAN AND FORAD HOLDINGS SDN BHD VIA THE ISSUANCE OF 54,585,152 NEW ORDINARY SHARES OF RM0.20 EACH IN APFT BERHAD ("APFT" OR "COMPANY") ("APFT SHARES") ("SETTLEMENT SHARES") AT AN ISSUE PRICE OF RM0.2748 PER SETTLEMENT SHARE;(II)\tPROPOSED ACQUISITION OF 2,550,000 ORDINARY SHARES OF RM1.00 EACH IN PT TECHNIC (M) SDN BHD ("PTTSB"), REPRESENTING 51% EQUITY INTEREST IN PTTSB FOR A PURCHASE CONSIDERATION OF RM30.6 MILLION TO BE SATISFIED VIA A COMBINATION OF RM10.0 MILLION IN CASH AND ISSUANCE OF 74,963,609 NEW APFT SHARES ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM0.2748 PER CONSIDERATION SHARE; (III)\tPROPOSED DIVERSIFICATION OF THE EXISTING BUSINESS OF APFT AND ITS SUBSIDIARIES TO INCLUDE ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING BUSINESS IN THE OIL AND GAS AND PETROCHEMICAL INDUSTRIES;(IV)\tPROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF APFT FROM RM50,000,000 COMPRISING 250,000,000 APFT SHARES TO RM100,000,000 COMPRISING 500,000,000 APFT SHARE ("PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL"); AND(V)\tPROPOSED AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF APFT AS A CONSEQUENCE OF THE PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL ("PROPOSED AMENDMENT")