KUALA LUMPUR, Friday (18th March, 2011) - APFT Berhad (APFT) today became the first flight education and training service provider to be listed on the main board of Bursa Malaysia Securities Berhad.
For the 15,000,000 shares made available for public subscription, a total of 8,590 applications for 196,359,600 shares with a value of RM98,179,800.00 were received from the Malaysian public. This represents an overall oversubscription rate of 12.09 times despite the soft market sentiments.
Apart from Asia Pacific Flight Training Sdn Bhd, which operates the flight academy, the group also has other subsidiaries that provide other aviation and training services. APFT Maintenance Training Sdn Bhd have started maintenance training program and APFT Engineering Sdn Bhd is embarking on providing a maintenance, repair and overhaul services (MRO). APFT Services Sdn Bhd will offer charter services for unscheduled flights.
Since 2006, the significant growth of the flight academy saw the company through to listing. Now the group is poised for a quantum leap to new heights. New ventures are planned for, and with the listing and lowering of the gearing, the group is ready to grow in tandem with the airline industry. The Asia Pacific region, having the highest growth in the airline industry, offers a huge market for the services of APFT.
After all, going regional is in line with the vision of the academy, to be the leading flight training provider in the Asia Pacific Region.
The group has ventured into India to set up a flight academy in the Hyderabad airport with local partner GMR Hyderabad International Airport Limited, the operator of the airport. APFT is confident that in keeping the quality and standards in the services the group is offering, it will be able to venture abroad and join the international community of flight training providers.
- PRESS RELEASE -
KUALA LUMPUR, March 10 (Bernama) -- Flight training academy APFT Bhd's initial public offering (IPO) made available for public subscription has been oversubscribed by 12.09 times.
MIDF Consultancy and Corporate Services Sdn Bhd said 8,590 applications for 196.36 million shares valued at RM98.2 million were received from the Malaysian public for the 15 million shares made available for public subscription.
Notice of allotment would be dispatched by post to all successful applicants on or before March 17, it said in a statement Thursday.
The IPO involves a public issue of 22 million new ordinary shares, of which 7 million were for eligible employees and person who have contributed to the success of APFT and its subscribers, and an offer for sale of 17.25 million existing shares by way of placement to identified investors at 50 sen each.
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MAIN-market bound flight education and training academy, APFT Bhd, is looking to expand its business and services in the Asia-Pacific region.
“We're looking at the region. Currently, the demand for pilots is not only from MAS (Malaysia Airlines) and (low cost carrier) AirAsia, but also from other regional airlines,” says APFT director Arif Faruk, who is also a shareholder and co-founder of the company.
Last month, it was reported that local graduate pilots were hit by job shortages. Arif says the demand for local pilots is mainly from MAS and AirAsia.
A likely reason the graduate pilots are not hired is that they “did not fit the profile,” according to Arif.
“That is why we need to expand. We want our students to be able to have access to a larger market in the region.”
Arif, who is an aeronautical engineer by profession and a qualified pilot, says APFT will be participating in exhibitions in Hong Kong and Indonesia over the next few weeks in an attempt to promote business there.
APFT has plans to expand its flight and education training expertise in India via a joint partnership there. Arif says the Directorate-General of Civil Aviation, Indonesia (DGCA) has already given its approval to APFT to conduct training for Indonesian cadets, adding that the company is also increasing marketing efforts there.
Arif notes that airlines worldwide are increasing their aircraft fleets and this will in turn spur the demand for pilots. Demand for pilots will be greatest in the Asia-Pacific region, he reckons.
According to the company's prospectus, which includes a report from independent market research company Protg Associates, global delivery of new aircraft is projected to increase to more than 50,000 for the period between 2009 and 2028.
“The Asia-Pacific region has the greatest demand for passenger aircraft with projected delivery of more than 16,000 new aircraft or 32%,” it says. >> READ MORE
- THE STAR
KUALA LUMPUR: Flight education and training academy APFT Bhd, which plans to list on the main market of Bursa Malaysia next month, will be offering other aviation-related businesses to boost its bottomline.
Executive chairman Datuk Faruk Othman said the company will be offering commercial flight services as well as maintenance, repair and overhaul (MRO) services.
“We have applied for the MRO licence and hope to get it started by June or July this year,” he told a briefing after the company's prospectus launch yesterday.
Faruk said APFT's MRO business should contribute to the company's earnings from the second half of the year.
Datuk Faruk Othman (second from right), Bank Islam MD Datuk Seri Zukri Samat (centre) and APFT’s board members at the launch of the company’s prospectus.
“We are also looking at offering other aviation-related services, such as chartered flights. We're going to work together with the Tourism Ministry. There is a lot of interest now on island hopping,” he said.
According to its prospectus, APFT's net profit for its financial year ended Dec 31, 2010 slipped 20% to RM8.86mil from RM11.01mil a year earlier. Revenue was higher at RM38.10mil from RM38.07mil previously. >> READ MORE
- THE STAR
ASIA Pacific Flight Traning Bhd (APFT) yang bakal disenaraikan di Pasaran Utama Bursa Malaysia 18 Mac ini, menyasarkan mampu mengumpul modal sehingga RM11 juta menerusi pelaksanaan tawaran awam permulaan (IPO) pada harga 50 sen sesaham.
IPO itu membabitkan penerbitan 22 juta saham baru bernilai 20 sen sesaham, yang mana mewakili 14.01 peratus daripada keseluruhan saham syarikat itu yang diperbesarkan.
Daripada jumlah itu, sebanyak 15 juta saham atau 9.55 peratus dibuka untuk langganan awam dan baki tujuh juta saham lagi ditawarkan kepada kakitangan serta individu yang memberi sumbangan kepada pembangunan syarikat.
Sementara itu, sejumlah 17.25 juta saham sedia ada syarikat itu akan ditawarkan untuk jualan menerusi penempatan saham kepada pelabur yang dikenal pasti.
Menerusi IPO itu juga, Bank Islam Malaysia Bhd mencatat sejarah sebagai bank Islam sepenuhnya pertama di negara ini menjadi penasihat utama, pengurus taja jamin, penaja jamin dan ejen penempatan saham berkenaan.
Mengulas perkembangan itu, Pengerusi Eksekutif APFT, Datuk Faruk Othman, berkata syarikat itu bakal muncul sebagai syarikat perkhidmatan pendidikan dan latihan penerbangan pertama yang disenaraikan di Bursa Malaysia.
Katanya, sejumlah 72.7 peratus atau RM8 juta daripada modal yang dijana daripada IPO itu akan digunakan untuk menjelaskan pinjaman bank kumpulan itu.
Selain itu, sebanyak 22.7 peratus atau RM2.5 juta lagi akan digunakan untuk modal kerja, manakala baki 4.6 peratus atau RM500,000 akan diperuntukkan perbelanjaan penyenaraian.
“Kami juga akan menyediakan perkhidmatan lain berkaitan penerbangan seperti perkhidmatan penerbangan komersial sewa khas, penyelenggaraan, pembaikan dan baik pulih (MRO) dan latihan penyelenggaraan,” katanya pada sidang media pelancaran prospektus syarikat itu di Kuala Lumpur, semalam.
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