Reference is made to the Company’s first announcement dated 19 January 2018 and monthly announcements made (“Announcements”) pursuant to PN17 of the Listing Requirements.

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcements.)

The Company had received a suspension and de-listing notice dated 4 March 2020 from Bursa Securities wherein Bursa Securities vide its decision letter of even date had rejected the 3rd Extension of Time Application as the Company had not demonstrated to the satisfaction of Bursa Securities any material development towards the finalisation and submission of the proposed regularisation plan (“Proposed Regularisation Plan”) to the regulatory authorities.

In light of the above, the Company had, on 10 March 2020, issued a termination letter to QEOS LED Sdn Bhd (“QEOS LED”) to terminate the Memorandum of Understanding (“MOU”) which was entered into between the Company and QEOS LED on 9 January 2020.

Subsequently, the Company had, on 10 March 2020, entered into a MOU with HELP International Corporation Berhad (“HIC”) to negotiate in good faith with a view of entering into a definitive sale and purchase agreement for the acquisition by APFT of certain educational assets/business of HIC and other key proposals to be implemented under the Proposed Regularisation Plan.

The Company had, on 11 March 2020, submitted an appeal (“Appeal”) to Bursa Securities against the commencement of de-listing procedures on the securities of the Company as well as to re-consider the rejection and to approve the 3rd Extension of Time Application for the Company to submit the Proposed Regularisation Plan to the regulatory authorities.

Given that the Appeal was submitted within the “Appeal Timeframe” (i.e. on or before 11 March 2020), the removal of the securities of the Company from the Official List of Bursa Securities shall be deferred pending the decision by Bursa Securities on the Appeal.

An announcement in relation to the outcome of the Appeal will be released in due course.

Nonetheless, the Board of Directors of APFT wishes to inform that the Company is in the midst of formulating the Proposed Regularisation Plan.

Save as disclosed above, there are no other material developments on the Proposed Regularisation Plan.