Date: 28th August 2007 (Tuesday)Time: 9.00amVenue: Crown Hall Crystal Crown Hotel Petaling Jaya

AGENDA9.00am Arrival of Guests

9.30am Recital of Doa

Speeches by: - Y Bhg Datuk Rafiah Salim Vice-Chancellor, University of Malaya - Mr Goh Hiang Kwee Chairman, AXP Solutions Sdn. Bhd.

Address by: - En Nik Mohd. Hasyudeen Yusoff President, Malaysian Institute of Accountants

Media Presentation

10.30am Signing of Memorandum of Understanding

11.00am Refreshment

Programme

Page 1

On behalf of the Malaysian Institute of Accountants (MIA), I would like to congratulate both University of Malaya (UM) and AXP Solutions Sdn Bhd for taking a proactive stance in creating a greater platform for collaboration between both your organisations via the signing of this Memorandum of Understanding (MoU).

We are confident that both organisations will contribute positively to ensure the betterment of the standard of tertiary education and training offered by UM. Collaborative efforts of such nature are highly desirable as they enable all parties to capitalise on each other’s strengths for the greater good of the profession.

There has been a widespread call across all industries for more competent and well-trained graduates from local universities. A collaboration of this nature will not only ensure that students are given better exposure to the most current technological practices - particularly information technology, it will also give them a solid basis of what is required of them – from a practical standpoint - once they graduate.

We are already living in the knowledge economy. In this era, a firm understanding of the importance of technology is an imperative for all graduates. Information technology is one of the main catalysts in today’s age of globalisation. It is also a key enabler of many processes and thus it is important for graduates to be highly conversant in it.

In this regard, it is heartening to note that UM and AXP Solutions are entering into this arrangement that will ensure that future graduates receive sufficient and relevant exposure of these kinds of IT systems even before they begin to embark on their careers. It is my fervent hope that the practical IT applications provided by AXP Solutions will add value and broaden the scope of the courses offered to UM students. Ultimately, it is hoped that this initiative will result in the culmination of graduates who are not only academically brilliant but technologically savvy as well.

On that note, I wish UM and AXP Solutions a memorable signing ceremony and every success in your future endeavours.

Nik Mohd. Hasyudeen Yusoff YusoffPresident

Addressby En Nik Mohd. Hasyudeen Yusoff President, Malaysian Institute of Accountants

Page 2

Assalamualaikum Warahmatullahi Wabarakatuh and Salam Sejahtera.

As the first higher learning institute in Malaysia, Univer-sity of Malaya has always been at the very heart of the progress of our nation. Through its years of experience, the University has much to offer and is committed to con-tinuously create the intellectual capital required in sustaining the growth of Malaysia.

In particular, the University is proud to have been able to produce a considerable number of accounting graduates to meet the needs of our nation. Through our accounting programme at the Faculty of Business and Accountancy, the University has successfully prepared our students to become competent accounting professionals, managers and industry leaders.

In order to continually meet the industry needs and accounting standards, the Faculty of Business and Accountancy has actively sought advice, guidance and cooperation from vari-ous public and professional bodies. This collaboration will provide golden opportunities for our staff and students to have a hands-on interactive learning experience which will help them understand and apply theories in accounting and auditing.

I hope that this MoU will be the first step towards developing future collaborative efforts to upgrade the quality of our programme and undergraduates, and maintain the highest stan-dards of professional practice of accountancy.

Thank you. With best wishes.

Datuk Rafiah SalimVice-Chancellor

Forewordby Datuk Rafiah SalimVice-Chancellor, University of Malaya

Page 3

As chairman of AXP Solutions Sdn. Bhd. (AXP) I feel hon-oured to represent our company on today’s signing of a Memorandum of Understanding (MoU) with University of Malaya (UM).

UM is the oldest higher learning institute in Malaysia, and the Faculty of Business and Accounting has an enviable record for producing accounting graduates of the highest caliber. In continuing with their professional studies after gradua-tion, the knowledge and understanding they have gained as undergraduates puts them in an excellent position to become valued and highly respected members of the business commu-nity and fulfill the nations need for competent professional accountants.

AXP is a home grown Malaysian company whose senior management are all qualified accountants who have a passion for enhancing the efficiency and quality of the auditing pro-fession through the application of information technology. In a constantly changing business and regulatory environment, it is imperative that auditing practitioners embrace the latest technology to ensure the integrity and transparency of financial statements which underlies the confidence of investors.

Jointly UM and AXP believe that exposure to practical experience at the undergraduate level which the MoU will facilitate will greatly enhance the learning experience, and produce graduates with the range of skills which are highly sought after by employers. These skills include knowledge, understanding, application and the ability to question and critically appraise business decisions.

I should personally like to congratulate the Vice-Chancellor Y. Bhg. Datuk Rafiah Salim, the Dean Professor Dr. Ainin Sulaiman and members of the Faculty of Business and Accounting, UM, for their dedication to the continual development and enhancement of their course curriculum in response to the changing needs of the business community. Together, UM and AXP can be jointly proud of the enhanced learning experience of the undergraduates which the MoU will achieve.

Thank you.

Goh Hiang Kwee YusoffChairman

Forewordby Mr Goh Hiang KweeChairman, AXP Solutions Sdn. Bhd.

Page 4

The University of Malaya (UM), Malaysia’s first univer-sity, was established in April 1949 in Singapore, then a part of Malaya. The growth of the University was very rapid and this resulted in the setting up of two autono-mous Divisions in 1959, one located in Singapore and the other in Kuala Lumpur. In 1960, the government of two territories indicated their desire to change the status of the divisions into that of a national university. On 1st January 1962, University of Malaya was estab-lished and retained the name of the flag nation ‘Malaya’ which has now became Malaysia.

Business and Accounting programmes were offered since 1966 by the Faculty of Economics and Admin-istration. On 1st February 1997, Faculty of Business and Accountancy (FBA) was subsequently estab-lished to focus on developing business and account-ing programmes. FBA aims to provide a significant contribution to both academic and business world through its research, publication and teaching.

UM’s Vision:-To advance knowledge and learning through

quality research and education for the nation and for humanity.

UM’s Mission:-To be an internationally renowned

institution of higher learning in research, innovation, publication and teaching.

The Collaborationbetween AXP Solutions Sdn. Bhd. and University of Malaya

Page 5

In 2002, Acc-Ware Management Consultancy Pte Ltd was incorporated in Singapore by a group of Malaysian nationals with a mission to Optimize Practitioner Technology. As part of the growth plan, AXP Solutions Sdn. Bhd. (AXP) was incorporated in June 2005 and was granted MSC status in August 2005.

AXP specializes in the research, development and com-mercialization of auditing and management software primary for auditing practitioners. Audit Express (AE) is our major software program. AE smartly links audit working papers to annual reports, and thereby improves both the speed and accuracy of undertaking an audit assignment.

AXP has been awarded ACCA Accredited Employer (Gold) and is an Approved Training Organisation for the New Zealand Institute of Chartered Accoun-tants. AXP’s senior management team members are all qualified accountants who served Big 4 account-ing firms and MNCs prior to joining AXP, and most of them are also members of Malaysian Institute of Accountants (MIA).

CreatingValue

The Collaborationbetween AXP Solutions Sdn. Bhd. and University of Malaya

Page 6

UM and AXP share a common and fundamental objective of pursuing a holistic approach in teaching auditing. Specifically our joint aim is to integrate AXP’s specialism into UM’s sylla-bus, thereby exposing students at an early stage to the practical aspects of auditing in a com-puter based environment with hands-on experience.

In this collaboration, AXP will provide UM with AE for educational purposes. Additionally, AXP will provide consultation on integrating AE into UM’s course syllabus in line with current audit practice environment.

The collaboration focuses on the practical appli-cation of IT tools and thereby adds value and broadens the course structure of UM. Addition-ally it will further enhance the standard of edu-cation through technology by upgrading the quality of the learning environment and thus raises the professionalism of UM.

The undergraduates’ exposure to audit software at a high institutional level will assist AXP in achieving their mission in the long term, which is to encourage practitioners to utilize the powers of IT in order to enhance their profes-sionalism and audit efficiency.

In view of the high demand for competent accountants in Malaysia, AXP is also committed to creating value to the accountancy profession in Malaysia and we enjoy the support from the MIA in this collaboration.

This industry-academia collaboration also aims to narrow the competency gap between graduates and commercial practitioners. It will therefore facilitate the objectives of the Minis-try of Higher Education in producing competent graduates and enhancing graduates’ employment marketability.

Supported by

Pursuing

A Holistic Approach

in Teaching Auditing

The Collaborationbetween AXP Solutions Sdn. Bhd. and University of Malaya

Page 7

Page 8

Supported by:

Producing Leaders Since 1905www.um.edu.my

AXP Solutions Sdn. Bhd.(Co. No. 693866-X)

Memorandum of Understanding Signing Ceremony

between

AXP Solutions Sdn. Bhd.and

University of Malaya

28th August 2007

To

AXP Solutions Sdn. Bhd. (693866-X)

For Signing the Memorandum of Understanding

with

with Compliments from the Management and Staff of :

Adrian Yeo & Co. (AF 1158)63B, Jalan SS25/2

Taman Bukit Emas47301 Petaling JayaSelangor, Malaysia

Tel: 03-78065555 Fax: 03-78063500www.adrianyeo.com

Producing Leaders Since 1905

CongratulationsOur Heartiest

Page 9

Thank You We deeply appreciate your presence.

Page 10

Memorandum of Understanding Signing Ceremony

between

AXP Solutions Sdn. Bhd.and

University of Malaya

DeanFaculty of Business and Accountancy

University of Malaya50603 Kuala Lumpur

MalaysiaTel: +603 7967 3800Fax: +603 7967 3980

E-mail: dekan_fpp@um.edu.mywww.um.edu.my

AXP Solutions Sdn. Bhd. (Co. no. 693866-X)C-2-16, SME Technopreneur Centre Cyberjaya

2270, Jln Usahawan 263000 Cyberjaya

Selangor, MalaysiaTel: +603 8315 6168 Fax: +603 8315 6198

E-mail: marketing@myaxp.comwww.myAXP.com

Malaysia National Freephone1300-882-AXP (297)