Kuala Lumpur, 30 April 2025 – The Farmers’ Organization Authority Malaysia, also known as Lembaga Pertubuhan Peladang (LPP) entered into an agreement with Extol Corporation Sdn Bhd (‘Extol’), which is a wholly owned subsidiary of AppAsia Berhad (‘AppAsia’), to participate in the eConfirm electronic bank confirmation platform through a signing ceremony in LPP head office today. The agreement was signed by the Director General of the Farmers’ Organization Authority (LPP), YBrs. Encik Amir bin Matamin, and the Executive Director of Extol, Mr. Calvert Wong, signed the agreement in the presence of Deputy Director General (Operation) Farmers’ Organization Authority(LPP), YBrs. Encik Nik Mohd Shaharil bin Nik Md. Hashim, and Extol Chief Operating Officer, Mr. Marriotte Bei Ming Ngai.
The eConfirm platform is an industry-wide electronic bank confirmation platform that facilitates the audit process for auditors and banks operating in Malaysia as required under the International Standard on Auditing (ISA) 505 External Confirmations.
Through leveraging eConfirm, audit confirmation processes are streamlined, turnaround times reduced, fraud risks reduced, and the security of financial audits are significantly improved. The platform’s automated workflow and real-time reporting capabilities enables audits to be conducted with greater transparency and efficiency. eConfirm has also obtained its SOC2 and SOC3 attestations, providing all organisations and users involved with the confidence in its compliance with security and IT regulations.
About eConfirm.my
The platform was launched on 26 June 2020 in collaboration with the Malaysian Institute of Accountants. As of December 2023, the eConfirm platform has achieved a 93.9% participation rate of all registered Malaysian audit firms with 30 financial institutions onboarded, including all major Malaysian banks; of which some banks have opted to shift to a fully online audit confirmation method via eConfirm. The platform has received positive feedback and praise since its launch, and Extol is hopeful to further expand its reach into international markets as a homegrown Malaysian platform solution for the audit industry.
For more information on the eConfirm.my platform, please visit: www.econfirm.my
About LPP
The Farmers’ Organization Authority (LPP) is a statutory body under the Ministry of Agriculture and Food Security Malaysia. Established to develop, regulate, and empower farmers’ organizations nationwide, LPP plays a pivotal role in enhancing the socio-economic status of farmers through strategic programs, capacity-building initiatives, and modern agricultural practices. Its mission is to drive sustainable agricultural development and uplift rural communities through cooperative-based approaches.
About AppAsia Berhad
AppAsia Berhad is a public listed company on the ACE Market of Bursa Malaysia Securities Berhad and is among Malaysia’s leading digital platform provider specialising in electronic confirmation technologies, blockchain technologies, advanced mobile applications, digital content, e-marketplaces, big data and artificial intelligent technologies.