We refer to the Company's announcements made on 30 August 2019 and 03 September 2019 in relation to Notice of Application for Interim Injuction against APFT AVIATION SDN. BHD. (APFT Aviation) (Wholly Owned subssidiary of APFT Berhad) by the Liquidator of Asia Pacific Flight Training Sdn. Bhd.( In Liquidation) (referred as “APFTSB”). Unless otherwise stated, the terms used throughout this announcement shall have the same meanings as defined in the earlier announcements.

The Board of Directors wishes to highlight on the followings from the hearing case management before the High Court Judge on 17 September 2019 :-

1.   Before proceeding with the case management, the proposed ad interim order was presented to the Plaintiff and agreed upon by all parties.

2. The proposed ad interim order was then recorded before the High Court Judge and the court proceeded to grant an ad interim injunction pending the hearing of the Plaintiff’s application for an interim injunction (“Enclosure 3”) based on the terms in the proposed ad interim order.

3. The High Court Judge proceeded with the following directions:

3.1 the hearing of Enclosure 3 on 4.10.2019;

3.2 case management for Enclosure 1 on 24.10.2019;

3..3 the hearing of Enclosure 1 on 11.11.2019; and

3.4 the exchange of all affidavits to be exhausted before the hearing of Enclosure 3.

4. Please be informed that the High Court Judge has raised certain concerns in regards to the following:

4.1 consideration provided by APFT Berhad for the aircraft; and

4.2 undertaking to be provided by the Plaintiff for the injunction being sought.

This announcement is dated 18 September 2019.