IRIS side-steps MyEG to land RM1.16 bil immigration system project

IRIS Information Technology Systems Sdn Bhd (IITS), a wholly-owned subsidiary of Iris Corp Bhd, has received a letter of award (LOA) from the Home Ministry today with regard to the RM1.16 bil National Integrated Immigration System (NIIS) project.

In a filing to Bursa Malaysia, Iris said the contract is valid for a period of 54 months commencing from March 1 this year till Aug 31, 2025.

“IITS is required to furnish a performance bond for the sum of RM12.88 mil to the Home Ministry within 30 days from the date of the LOA with validity period commencing from March 1, 2021 to Aug 31, 2026,” Iris pointed out.

“The project will not have any effect on the issued and paid-up share capital, gearing and the shareholding of the substantial shareholders of Iris as it does not involve the issuance of ordinary shares in Iris.”

Apart from Iris, MyEG Services Bhd was also deemed among the frontrunners for the project to replace the existing Malaysian Immigration System (MyIMMS).

The LOA is not subject to the approval of its shareholders, added Iris.

FOCUS MALAYSIA

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