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AppAsia partners MIA to develop electronic bank confirmation platform

KUALA LUMPUR (June 12): AppAsia Bhd is partnering with the Malaysian Institute of Accountants (MIA) to develop an industry-wide electronic bank confirmation platform.

The project will facilitate the bank confirmation process in the country, the group said in a filing with Bursa Malaysia.

AppAsia said its wholly-owned unit, Extol Corp Sdn Bhd, inked a collaboration agreement with MIA, which is valid over the next 10 years.

“The directors are of the opinion that the collaboration agreement is in the best interest of the group after considering, amongst others, the potential financial contribution to the earnings of the group,” said AppAsia.

Listed on the ACE Market, AppAsia shares closed unchanged at 21 sen, with 318,800 shares done, for a market capitalisation of RM72.5 million.