IRIS Corp Bhd has snagged the much sought after contract for the RM1.16 billion National Integrated Immigration System (NIIS).
The contract, which has a tenure of 4½ years or 54 months, is likely to be a game changer for the company.
In a brief conversation with The Edge, CEO Shaiful Subhan clarified earlier speculation that the contract would be awarded to a consortium.
“It (the award) is just to us, Iris, but of course, we will have subcontractors and we are open to partnerships,” he says.
Shaiful was tight-lipped on the contract’s impact on Iris’ bottom line, saying only that, “It’s decent, we are still working on it”. Market talk, however, has it that the contract will mean margins of at least double digits for the company.
At 12.30pm, the FBM KLCI was down 3.67 points to 1,581.23.
Losers edged gainers by 369 to 364, while 687 counters traded unchanged. Trading volume was 3.39 billion shares valued at RM1.98 billion.
The top losers included Nestle (Malaysia) Bhd, Computer Forms (Malaysia) Bhd, Kuala Lumpur Kepong Bhd, Heineken Malaysia Bhd, KESM Industries Bhd, Fraser & Neave Holdings Bhd, Khind Holdings Bhd and Hong Leong Financial Group Bhd.
Index-linked glove makers Top Glove Corp Bhd, Supermax Corp Bhd and Hartalega Holdings Bhd also retreated.
The actively traded stocks included i-Stone Group Bhd, Luster Industries Bhd, Trive Property Group Bhd, QES Group Bhd, Iris Corp Bhd, Metronic Global Bhd and Aemulus Holdings Bhd.
KUALA LUMPUR (Feb 5): Businessman Datuk Seri Robin Tan son of tycoon Tan Sri Vincent Tan has trimmed his stake in Iris Corp Bhd notwithstanding the group’s success in clinching an RM1.16 billion government contract for an immigration system.
According to a filing with Bursa Malaysia today, Robin disposed of 45 million shares or a 1.72% stake in the group via a married deal on Feb 2.
Checks on Bloomberg data showed that the substantial shareholder had sold the stake in a block at 41 sen per share, a 5.13% premium to the closing price of 39 sen on Feb 2.
With a remaining shareholding of 245.69 million shares or 8.079% in Iris, Robin is still the company’s second largest shareholder.
KUALA LUMPUR (Feb 5): The main index of Bursa Malaysia reversed its earlier gains and dipped in the mid-morning as glove makers and plantation stocks dragged against a backdrop of mixed regional markets.
At 10am, the FBM KLCI had fallen 2.82 points to 1,582.08. The index earlier rose to a high of 1,590.47.
Gainers edged losers by 399 to 361, while 415 counters traded unchanged. Trading volume was 1.56 billion shares valued at RM850.08 million.
The decliners included Nestle (Malaysia) Bhd, Kuala Lumpur Kepong Bhd (KLK), Supermax Corp Bhd, Unisem (M) Bhd, Top Glove Corp Bhd, PPB Group Bhd, United Plantations Bhd and Batu Kawan Bhd.
The actively traded stocks included i-Stone Group Bhd, Trive Property Group Bhd, Luster Industries Bhd, QES Group Bhd, Iris Corp Bhd and Fintec Global Bhd.
KUALA LUMPUR (Feb 4): The main index of Bursa Malaysia reversed its earlier loss and climbed in the mid-morning today, but gains were seen capped against a backdrop of lacklustre regional markets.
At 10am, the FBM KLCI had risen 1.61 points to 1,584.60. The index earlier slipped to a low of 1,581.36.
Gainers led losers by 469 to 282, while 397 counters traded unchanged. Trading volume was 1.6 billion shares valued at RM884.42 million.
The top gainers included Malaysian Pacific Industries Bhd, See Hup Consolidated Bhd, Kobay Technology Bhd, Genetec Technology Bhd, ViTrox Corp Bhd and Khind Holdings Bhd.
The actively traded stocks included Luster Industries Bhd, KNM Group Bhd, Sanichi Technology Bhd, Dagang NeXchange Bhd (DNeX), AbleGroup Bhd, Iris Corp Bhd and PA Resources Bhd.