APFT (5194) - Stocks With Momentum: Asia Pacific Flight Training
March 30, 2015 : 10:29 AM MYT
APFT BHD (-ve) Red Flag
ASIA Pacific Flight Training Bhd (Fundamental: 0.2/3 Valuation: 0.3/3) was ‘Red Flagged’ by the system, due to its low fundamental and valuation scores. The stock rose 9% over the last 3 days, hitting a high of 18 sen, but retraced to close lower at 17.5 sen on Friday. Trading volume was 16.3 million, compared with its 200 day average of 2.69 million.
This followed an announcement that the company has fixed 20 sen per share as the issue price for the first tranche of a private placement comprising 15 million out of 118.1 million shares. AFPT plans to raise a maximum of RM23.6 million from the exercise, 40% of which will be used to purchase oil and gas equipment, 25.4% for aircraft purchase and the rest for working capital and loan repayments.
The company operates a flight training academy, and hopes to increase its revenue streams through its involvement in the oil and gas sector.
This article first appeared in The Edge Financial Daily, on March 30, 2015.
http://www.theedgemarkets.com
March 30, 2015 : 10:29 AM MYT
APFT BHD (-ve) Red Flag
ASIA Pacific Flight Training Bhd (Fundamental: 0.2/3 Valuation: 0.3/3) was ‘Red Flagged’ by the system, due to its low fundamental and valuation scores. The stock rose 9% over the last 3 days, hitting a high of 18 sen, but retraced to close lower at 17.5 sen on Friday. Trading volume was 16.3 million, compared with its 200 day average of 2.69 million.
This followed an announcement that the company has fixed 20 sen per share as the issue price for the first tranche of a private placement comprising 15 million out of 118.1 million shares. AFPT plans to raise a maximum of RM23.6 million from the exercise, 40% of which will be used to purchase oil and gas equipment, 25.4% for aircraft purchase and the rest for working capital and loan repayments.
The company operates a flight training academy, and hopes to increase its revenue streams through its involvement in the oil and gas sector.
This article first appeared in The Edge Financial Daily, on March 30, 2015.
http://www.theedgemarkets.com
