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Overview
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Business Background Iris Corp Bhd is a Malaysian based company. It operates in five divisions. Trusted identification Division offers e-passports, e-identification cards, banking cards, transportation and other related trusted identifications devices and equipment. Property Development and Construction sub-division are engaged in the construction of buildings and modern integrated farms and manufacturing of Koto industrialized building systems. Food and Agro Technology sub-division provide provision of food and agro-produce and equipment. Environment and renewable energy provide provision of waste management and power and energy-related systems. Education Division offers the provision of academic, tertiary and professional courses. It generates the majority of the revenue from Trusted identification Division.
  shiningmoon willc48 the issue with govt awarding projects to Bumi companies must stop if the direct bumi companies dont have experience 24 minutes ago Iris don't have experience? I think it's better to hear from Iris direct, why they unable to handle the issues. 13/03/2023 6:50 PM shiningmoon sailang_now Who is spinning? Saiful or IRIS? as IRIS has given an update on Niise before...mmm mmm... "Group chief executive officer of IRIS Corporation Berhad, Shaiful Zahrin Subhan said they have worked side by side with Immigration Department officers on a daily basis to ensure the project which started in March last year is successfully delivered. “We are now deep into the project and work closely hand-in-hand with the Ministry of Home Affairs especially the Immigration Department and also other related government agencies that will method to the system once it is ready. “We are looking very much forward to the project. We have our project team…to specifically manage this project together with all our partners. The prototype (NIISe) is ready and what we have to do (now) is develop the software for the system. “So we are confident to deliver the system by the time given which is in the next two years,” he told a press conference after the Automated Biometric Identification System (ABIS) and Border Control Solution (e-Gate) subcontract handover ceremony between IRIS and NEC Malaysia here today." WHO IS SPINNING THE STORY? 14/03/2023 11:15 AM  sailang_now Link is here on Niise update by IRIS earlier during NEC subcontract award... Who is spinning? up to market to decide? https://selangorjournal.my/2022/10/niise-project-to-be-delivered-to-immigration-dept-in-2024-as-scheduled/ 14/03/2023 11:48 AM shiningmoon How much compensation gov need to pay for scapping the NIISE project? 14/03/2023 11:55 AM Jasonwantyou they claim that is the sick project. but government must understand that period was MCO and all the projects were pending. so don't just blame iris can not complete it. 14/03/2023 10:02 PM Peace99 Agree that MCO and delays in shipping must be taken into account. Also the due date is 2024. Some projects have long gestation and testing periods, and may have nothing much to show until near completion. So, gov must evaluate the project n a holistic manner! (Yes, I have quite some IRIS shares!) 14/03/2023 11:44 PM JusticeBao Stock like this better park money in FD save your time save your mind 14/03/2023 11:50 PM  speakup nowadays very hard to invest in small caps. One minute govt kasi big contract, next minute a new govt tarik balik contract. How lah like this? Nobody will invest in small caps anymore 15/03/2023 7:40 AM Peace99 Can anyone see our immigration take over and do in-house the development of NIISe? It has got the relevant computer department/manpower? I don't see it is possible for immigration to have such a department suddenly. 15/03/2023 3:09 PM Jasonwantyou government just want to catch big fish only. just pay attention on the big fish la. iris just a company doing business. why project already awarded then can trail balik 15/03/2023 11:12 PM sailang_now Substantial shareholders Dr. Poh & Robin has not sold any... but quietly accumulating (VT pulling cables in Govt?)...anybody can tell why?...btw Govt can only cancel new contracts that have not been implemented only for a good reason...Niise project has been running since last year with at least 10% progress...Govt can't justify cancellation only because project is behind schedule due to MCO?... anyway delivery is in 2024...if really cancelled, Govt has to pay compensation for work done?... 16/03/2023 10:11 AM hhhiii123 A company have developed world first epassport for msia in the past , and continue to possess leading technology in trusted solution, continue to grow recently. Now being accuse by government for bribery lol, kind a funny story, good reformasi 16/03/2023 5:47 PM speakup https://www.nst.com.my/business/2023/03/889770/dnb-ceo-ralph-marshall-resigns Ralph Marshall = major shareholder of Iris 16/03/2023 9:32 PM sailang_now Corrections, Augustus Ralph Marshall is only a shareholder with only 0.46% shares in IRIS. Don't think that qualifies him as a major shareholder? https://ibb.co/5YtCZH6 16/03/2023 9:56 PM sailang_now Nope! Pls refer definition for major shareholder in link below. https://www.investopedia.com/terms/m/majorityshareholder.asp 16/03/2023 10:19 PM BLee "KUALA LUMPUR: The government does not intend to review or restructure projects implemented by the previous administration, the Economy Ministry said. In a written reply posted on Parliament's website today, the ministry said all projects would continue to be implemented in line with the procurement procedures that are profitable to the government." Does this include NIISe project, or does it still have to wait until next month?? News as per link: https://www.nst.com.my/news/nation/2023/03/889946/govt-does-not-intend-reviewing-projects-implemented-previous?utm_source=nst&utm_medium=mostpoplatest Happy Trading and TradeAtYourOwnRisk.. 16/03/2023 11:17 PM sailang_now @BFLee Niise Project was awarded in March 2021 and slated for completion in August 2024...The hint already given by Saifuddin earlier inline with Economy Ministry written reply in Parliament?... "Saifuddin said the Home Ministry was committed to the success of the NIISe project and protecting the interest of users, including the Immigration Department, to ensure that the delivery of services to the people is not affected. https://www.theedgemarkets.com/node/658765 17/03/2023 4:08 AM Bettyem We doubt Malaysian government will cancel Niise project and these are the reasons why; NIISe is an initiative of the Ministry of Home Affairs to replace the Malaysian Immigration System (MyIMMs), which has been operating for more than 20 years. Iris, which has been working with the Immigration Department since 1998, introduced the first ePassport, enabling the deployment of e-Gates to read and verify ePassports using travellers’ thumbprints. 17/03/2023 2:58 PM Bettyem The NEC ABIS and NEC e-Gate systems, which are expected to be rolled out by 2024. NEC has pioneered the concept of digital identity, create a touchless and seamless airport experience using its biometrics platform at Frankfurt and Munich airports since November 2020. Additionally, travellers at Narita International Airport in Japan have been using “Face Express”, its face recognition technology, since last year. 17/03/2023 2:58 PM Bettyem The system will consist of 13 main and six support modules that cover various areas of the Immigration Department, including passport and travel documents, immigration control, enforcement, intelligence, security management and advanced passenger screening, among others. 17/03/2023 2:59 PM Bettyem You need to look into Niise project organization. 1 OWNER - Home MInistry 2 Contract Holder - A consortium IRIS + 3rd Party Company. Purpose; Qualify for Bumiputra status; technical / financial criteria 3 Subcontractor - Technology / technical provider; NEC This consortium has met all requirements above. If there is political connection, there is no evidence so far. This consortium already declared that no one in their organization has any interest or relatives in Home Ministry. 17/03/2023 2:59 PM Bettyem Thus, this consortium has fulfilled its contractual requirements. The only thing that can terminate this consortium from this contract is when this consortium unable to fulfill and meet Home Ministry requirements which is to deliver Niise on time in full in 2025 We rest our case. Hahahahaha 17/03/2023 3:00 PM AlexChiaWS I thought Iris were awarded the Niise project with S5 participation in the project as a term and condition. Then, why Iris is being drag into the so called "son-in-law" chaos? I thought this guy only relates to S5 not Iris? https://www.thevibes.com/articles/news/11037/muhyiddins-son-in-laws-shadow-looms-over-rm1.2-bil-immigration-project 18/03/2023 1:34 AM sailang_now We think you need to look at the dates in event in the article for a better perspective? We think S5 never put in a bid for the contract? They were supposed to be a subcontractor but things didn't worked as planned and they tried to file an interim injunction against Iris...so much about Biz revenge... https://www.theedgemarkets.com/article/s5-systems-clears-air-political-links https://www.klsescreener.com/v2/announcements/view/3486357 18/03/2023 4:04 AM sailang_now Vibes article dated 24 December 2020. Award of Niise contract by KDN in March 2021? 18/03/2023 4:11 AM sailang_now Article in theedgemarkets dated 21 March 2021? https://www.theedgemarkets.com/article/s5-systems-clears-air-political-links 18/03/2023 4:16 AM shiningmoon Some MP brought over nuisance into parliament for a purpose of content. Look at what happened to MP Lim Lip Eng now. I seriously think new gov is arming themselves to end the PN's power once and for all by raising a political contract issue under MY's reigned. On top, the next person to end his political career is those at Sheraton 2020. Iris is used as scapegoat. Hope AI will give way to the innocent during this internal war. 18/03/2023 4:41 PM shiningmoon Bettyem You need to look into Niise project organization. 1 OWNER - Home MInistry 2 Contract Holder - A consortium IRIS + 3rd Party Company. Purpose; Qualify for Bumiputra status; technical / financial criteria 3 Subcontractor - Technology / technical provider; NEC This consortium has met all requirements above. If there is political connection, there is no evidence so far. This consortium already declared that no one in their organization has any interest or relatives in Home Ministry. 1 day ago Who was the HM at that time? Ask him then. During the transition, whoever dare to go hanky panky have to join fate with the 0nemdb bossku...didn't these ministers learnt? 18/03/2023 4:45 PM sailang_now If we know PMX & PH, there will be probably a review of the Project with the view to reduce the cost & cut out the potential political influence? As the Niise is build in a modular system comprising of 13 main & 6 support modules. KDN can determine which modules has been completed by IRIS & NEC? We think S3 currently has 3 existing contracts with KDN which could also reviewed i.e. oniKad (foreign workers’ ID); ISC (Immigration Security Clearance) where we do biometric background screening of all the foreign workers who want to come into Malaysia before they process their documents to get their visas; and NERS (National Foreigners Enforcement and Registration System) where we capture the biometrics of all foreigners who come into Malaysia and provide a complete suite of enforcement technologies to assist the Immigration Department. The NERS system is being implemented across all borders as well as all immigration offices and depots in Malaysia,” "The system will consist of 13 main and six support modules that cover various areas of the Immigration Department, including passport and travel documents, immigration control, enforcement, intelligence, security management and advanced passenger screening, among others." “When I took over, the S3 company was profitable and had three contracts — iKad (foreign workers’ ID); ISC (Immigration Security Clearance) where we do biometric background screening of all the foreign workers who want to come into Malaysia before they process their documents to get their visas; and NERS (National Foreigners Enforcement and Registration System) where we capture the biometrics of all foreigners who come into Malaysia and provide a complete suite of enforcement technologies to assist the Immigration Department. The NERS system is being implemented across all borders as well as all immigration offices and depots in Malaysia,” he says. 20/03/2023 12:46 PM speakup If take back, all govt projects are at risk. U think Iris the only company got govt project ke? Many companies got govt contracts, of various sizes 20/03/2023 12:59 PM Bettyem Well spoken! Govt. will review all projects including Myeg & Datasonic as well. In this coming 4QFY23, IRIS could wrap FY23 with min MYR300mil. IRIS business is improving after Covid19 pandemic. Their business is not limited to Malaysia as only 30%. They can market their services overseas.. And their ID technology is new and in demand. Future prospects looks good. 20/03/2023 1:43 PM speakup Iris already new management since a few years ago. Old team all kick out already 23/03/2023 12:48 PM nicholas99 In another case announced by SC[9] in 2017 pertaining to the shares of Iris Corporation Berhad (“Iris”), the High Court had declared in favour of SC against defendants for their role in the manipulation of Iris shares in 2006. All 7 defendants were declared to have conspired to manipulate the share price of Iris. The manipulation was conducted through a complex layering of the origination of the orders and transactions via foreign intermediaries. The defendants collectively used numerous trading accounts to create an artificially strong demand for Iris shares. It had caused the price of Iris shares to rise from RM0.08 to a closing high of RM1.36 per share with an average of 200 million shares being traded daily over that period. In 2012[10], SC charged a former remisier in the Kuala Lumpur Sessions Court and another individual for abetting the manipulation of shares in Lii Hen Industries Bhd (“Lii Hen”) by creating a misleading appearance of active trading of Lii Hen shares by being involved in the sale and purchase of Lii Hen shares that did not result in any change of beneficial ownership. The trades were executed through 42 accounts at nine stockbroking companies between March 2004 and October 2004. In 2010[11], SC obtained convictions against 2 individuals for their involvement in the manipulation of Fountain View Development Bhd (“FVD”) shares. The first defendant, a former director of FVD, pleaded guilty to the offence of creating a misleading appearance of active trading of FVD shares on Kuala Lumpur Stock Exchange (now known as Bursa) through at least 20 CDS accounts which were beneficially owned by the accused through the companies that he controlled. The second defendant pleaded guilty for abetting the first defendant whereby he was responsible for executing and relaying orders for the sale and purchase of the shares during the material time to various stockbroking firms. 24/03/2023 3:02 PM sailang_now Agreed...anyway already new team so old news is as good as no news? speakup Iris already new management since a few years ago. Old team all kick out already 24/03/2023 3:37 PM Bettyem Bad news for Myeg , Good news for IRIS? https://www.theedgemarkets.com/node/660711 25/03/2023 8:55 AM hhhiii123 @Bettyem Only Iris pass the test of Niise, then will be able to get more projects in the future. Let's wait another week then we can know its fate.... 25/03/2023 9:59 AM  | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
