APFT posts smaller quarterly net loss

PETALING JAYA: APFT Bhd, which announced its quarterly results a day before it was due to be suspended from trading, saw its net loss narrow to RM252,000 for the three months ended June 30, 2016 from a net loss of RM1.87 million a year ago.
In a filing with Bursa Malaysia yesterday, APFT said revenue for the three months plunged to RM3.75 million from RM12.86 million a year ago due to lower contribution from PT Technic (M) Sdn Bhd.
For the 15 months ended June 30, 2016, APFT reported a net loss of RM18.31 million and revenue of RM27.53 million. There is no comparison with a corresponding period due to the change in its financial year end from March 31, 2016 to July 31, 2016.
The results for the period from July 1, 2016 to July 31, 2016 will be announced by Sept 30, 2016.
APFT said the flight training academy has been focusing on helicopter training and is training Bomba (Fire and Rescue Department) cadets. It hopes to attract other agencies to enrol their staff in the helicopter licence programme.
“The contract with Ministry of Education for the Diploma Vocational Malaysia is ongoing and we were given additional students for year 2016, and can expect more in 2017. The SKM (Sijil Kemahiran Malaysia) programmes have been given approval by the Human Resources Development Fund to conduct courses under the 1Malaysia GRIP and the marketing for this programme has started,” it said.