Highlights
KLSE: IRIS (0010)       IRIS CORP BHD ACE : Technology
Last Price Today's Change   Day's Range   Trading Volume
0.14   0.00 (0.00%)  0.14 - 0.145  3,093,900
Analyze this stock with MQ Trader system

Overview

Market Cap: 415 Million
NOSH: 2,966 Million
Avg Volume (4 weeks):11,102,026
4 Weeks Range:0.14 - 0.155
4 Weeks Price Volatility (%):
0.00%
52 Weeks Range:0.125 - 0.195
52 Weeks Price Volatility (%):
21.43%
Average Price Target: 0.20
Price Target Upside/Downside: +0.06
Stamp duty exempted for year 2019

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2019 [#1]  |  27-Aug-2019
Next QR | Est. Ann. Date: 30-Sep-2019  |  28-Nov-2019
T4Q P/E | EY: 10.66  |  9.38%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.0951  |  1.47
T4Q NP Margin | ROE: 19.28%  |  13.81%

Headlines

Date Subject
27-Sep-2019 艾力斯呈标书·移民系统料年杪开标
13-Aug-2019 Immigration-related Stocks - Anticipate Potential Bidders to Trade Actively
08-Aug-2019 Technical Buy - IRIS (0010)
23-Jul-2019 Daily Market Update - 23 Jul 2019 (EKOVEST, IRIS)
04-Jul-2019 Evening Market Summary - 4 Jul 2019
25-Apr-2019 大马卡合约将招标·艾力斯(IRIS, 0010)具竞争优势
25-Apr-2019 PublicInvest Research Headlines - 25 Apr 2019
23-Apr-2019 [转贴] [IRIS CORP BHD:随着卖掉IRIS教育部门以及食品废物 - 化肥厂的部门和非核心业务的合理化,IRIS将能够从这种合理化所带来的大量成本节约中受益] - James的股票投资James Share Investing
23-Apr-2019 [转贴] [Facebook live:浅谈Iris corp bhd (Iris)] - James的股票投资James Share Investing
22-Apr-2019 Technical Buy: IRIS (0010)
28-Mar-2019 Technical View - Iris Corporation Bhd (IRIS, 0010)
27-Mar-2019 Evening Market Summary - 27 Mar 2019
25-Mar-2019 Iris Corporation Berhad - Identity Reboot
30-Jan-2019 Evening Market Summary - 30 Jan 2019
28-Jan-2019 Evening Market Summary - 25 Jan 2019
23-Jan-2019 Trading Stocks - Iris Corporation
29-Nov-2018 Mplus Market Pulse - 29 Nov 2018

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.
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  66 people like this.
 
Mabel @itch JC so how? U talk so much elsewhere but here, what's your take here?

Ya lor...

I have been waiting for his analysis here for ages. Share lah JC.. Let's make some money here too. :)
17/10/2019 11:03 PM
ezytrader jc is just a tin kosong. cut and paste from here and there
18/10/2019 6:22 AM
speakup u guys still here?
already told u all cabut already
18/10/2019 8:20 PM
Mabel Still here until the SKIN tender is announced..
18/10/2019 9:59 PM
calvintaneng Post removed. Why?
19/10/2019 4:34 PM
Johnchew5 Post removed. Why?
19/10/2019 4:40 PM
Johnchew5 With Tan Sri Vincent Tan n Tun Ling L .S...sons r substantial share holder ..the two r Tun M close buddy..Vincent Tan did hold private birthday for Tun M..

Just slow slow collect on dip.waiting IIS tender award...still far...
19/10/2019 4:48 PM
Johnchew Post removed. Why?
19/10/2019 7:03 PM
wotvr I can wait. When the company was making losses. Share price around this range. Now that making profit should be at least 0.20. So hoping for better things ahead.
20/10/2019 12:50 AM
OngKawKaw This one counter for kantoi not for us
21/10/2019 5:44 PM
OngKawKaw Better ignore
21/10/2019 5:45 PM
John_chew Calvin is banned until 31/10/19..
21/10/2019 10:34 PM
snwong13 .
DO NOT MISS THE BOAT!!

https://www.thesundaily.my/business/small-cap-stocks-are-2020-s-best-investment-options-says-expert-KB1506095
22/10/2019 8:03 AM
OngKawKaw Woi. Pigi lain tempat lah kalau nak tipu orang lagi
22/10/2019 10:16 PM
itch So many John chews :D
23/10/2019 12:23 PM
Davidyeap 陪跑
24/10/2019 11:50 AM
itch Operator very greedy lo...not collected enough meh? What about us???when is the good news???
24/10/2019 4:52 PM
OngKawKaw Useless management. Puih!!!
24/10/2019 7:39 PM
Kido Kikidodo may i know what is acquired via direct business transaction?
25/10/2019 11:08 PM
Shines Is direct deslings, you and I agreed to sell/buy a certain qty of shares at an agreed price, then both will ask their remisers to transac.
28/10/2019 7:30 AM
Kido Kikidodo @ Shines tq.....where can check who dispose to them?
28/10/2019 3:01 PM
Mabel @Johnchew5 With Tan Sri Vincent Tan n Tun Ling L .S...sons r substantial share holder ..the two r Tun M close buddy..Vincent Tan did hold private birthday for Tun M..

Just slow slow collect on dip.waiting IIS tender award...still far...
19/10/2019 4:48 PM
----

https://www.thestar.com.my/business/business-news/2019/06/11/system-to...

Three listed companies are among the front-runners to bid for the multi-billion-ringgit Sistem Kawalan Imigresen Nasional (SKIN) replacement project, which will see a new integrated immigration system for Malaysia.

Does anyone knows when we can expect some decision on this tender?
28/10/2019 11:44 PM
lilychan Mabel you means Tun Ling L .S buy iris ?
29/10/2019 4:33 PM
itch Yes, both sons of Tun Ling LS and TS Vincent Tan bought
29/10/2019 5:16 PM
kingstock007 know this company for many years, few time bet on this counter, and all ended with disappointment..
29/10/2019 5:25 PM
OngKawKaw Don’t waste your time. Useless management puih
29/10/2019 8:41 PM
itch https://malaysiastock.biz/Company-Announcement.aspx?id=1180211

Mr. Ling acquired bought more shares on the 25/10. Something brewing?
30/10/2019 9:36 AM
OngKawKaw Brewing coffee ke?
30/10/2019 1:44 PM
Mabel Obviously.. It has to do with the upcoming skins
30/10/2019 4:51 PM
OngKawKaw Mana ada skin lagi? Sudah tukar nama KAN?
30/10/2019 8:11 PM
Mabel Really?

What do they call now?
31/10/2019 10:32 PM
OngKawKaw Kulit wayang 1malaysia
01/11/2019 10:48 AM
kingstock007 股价和量都没有,你当我们散户没读书吗?
02/11/2019 3:55 AM
lsyiat 30.8 million queuing buy at RM0.14, good news announce soon?
04/11/2019 11:01 AM
skyrocket They'll buy and not queue there if really got good news.
04/11/2019 12:11 PM
itch Hehehe, u are right skyrocket
04/11/2019 12:48 PM
lobangking Dgb,Netx,Cuscapi,Mtronic,Jadi potential reach TP 20sen
04/11/2019 3:17 PM
sheep 0.12 coming
04/11/2019 3:28 PM
andychay6124 Tekan tekan jgn tak tekan
05/11/2019 6:04 PM
andychay6124 Wa tunggu 12 sen
05/11/2019 6:06 PM
OngKawKaw Life is short! Don’t waste your time here. Useless management puih
05/11/2019 6:38 PM
andychay6124 I believe iris will shoot up before Tun M step down
05/11/2019 7:54 PM
itch Ling still buying
05/11/2019 11:18 PM
Mabel @sheep 0.12 coming

if it comes we buy lor...
06/11/2019 8:57 AM
Shines Sure, 14 also waiting to in
06/11/2019 7:19 PM
andychay6124 Bullet in ready, waiting you to come down
08/11/2019 11:13 AM
itch This Kenanga report dated 25th March 2019 seems a bit far fetch...

With its technical knowhow, we believe IRIS is a strong
contender for a possible IC contract tender. The group has
been divesting non-core assets to re-align its business focus
on Trusted ID. Based on Trusted ID’s earnings per se, the
stock is only trading at 7x FY19E PER, even before factoring
in any IC contract. The share overhang situation caused by a
GLC shareholder is likely to blow over soon. Trading Buy with
a FV of RM0.200.
Strong contender for upcoming government contracts. We believe
the tender for the supply of MyKads could possibly be opened up
soon, given that the existing RM260m contract (carried by a competitor
currently) is expiring end-2019. Although MyKads have not been fully
delivered under the existing contract, we understand that there are no
ramifications upon the expiry. We believe it is also in the Malaysian
government’s best interest to open up the tender to ensure fairer
competition and better pricing, and IRIS’ technical knowhow and
capabilities in digital ID render it a strong contender for the contract.
Based on our back-of-envelope calculation and assuming 15% lower
contract value, we estimate that the IC contract could generate
c.RM15m PAT (c.30% of FY20 CNP) annually from FY21 onwards.
Out with the old, in with the new. It is interesting to note that there
has been a change in substantial shareholders, which saw Dato'
Rozabil Abdul Rahman (executive director of IRIS) rapidly paring down
his stake in IRIS, from a peak of 320m shares (10.8%) on 21 Sep 2018
to 117m shares (3.9%) on 25 Jan 2019. Interestingly, Dato’ Sri Robin
Tan (eldest son of Tan Sri Vincent Tan) has emerged as a substantial
shareholder with 247m shares (8.3%) on 21 Sep 2018, and has
subsequently upped his stake to 271m shares (9.1%) at present.
Starting with a clean slate. The group has been divesting non-core
assets to realign its business focus on Trusted ID, which involved
kitchen-sinking impairments and write-offs of c.RM316m over FY17
and FY18. The exercise, which is almost concluded, has helped stem
the bleeding from the non-core assets and brought the group back into
profitability in the past three quarters. We believe the few remaining
non-core assets, which are still dragging earnings with aggregate
losses of >RM40m annually, could be disposed of this year. Based on
Trusted ID’s earnings per se, the stock is only trading at 7x FY19E
PER, even before factoring in the IC contract (refer overleaf for
details).
Overhang to be over soon. The continuous share disposals (likely
due to non-fundamental-related reasons) by a GLC shareholder have
probably been the impediment to IRIS’ share price improvements since
2018. Thankfully, the shareholder has ceased to be a major
shareholder on 21 Feb 2019 (from c.21.3% stake in early-2018).
Currently, we believe the shareholder has only 3-4% stake left in the
company, signifying that the share overhang will likely blow over soon.
Project FY19-20E CNPs at RM24.7-48.9m. The sturdy growth
expected in FY20 is largely fuelled by the discontinuation of non-core
businesses and 10% top-line growth in Trusted ID (vs.10-15% guided).
Trading Buy with a FV of RM0.200, based on FY20E PER of 12.0x, a
discount to its peers’ 18x given its ACE market status and smaller
earnings base. Although IRIS’ market capitalisation is c.40% smaller
than that of DSONIC’s, its superior earnings growth warrants a slightly
smaller discount rate of 30%. Post-disposals of non-core assets, IRIS’
earnings are expected to bounce back with a vengeance in FY20
(+98%). In addition, the stock only trades at FY20E PER of 8.5x, which
limits its share price downside, while providing investors with opportunities to buy into its potential to win the IC contract.

Continue...
11/11/2019 3:04 PM
itch OTHER SALIENT POINTS
Commendable visibility. IRIS is touted as the pioneer of multi-application electronic national ID. It currently serves a
diversified customer base across 38 countries, with a total order-book of RM2b, offering commendable visibility in the
Trusted ID segment for the next 5 years.
Starting with a clean slate. Since Dato’ Paul Poh joined IRIS as the new management in 2017, the group has been
divesting non-core assets to re-align its business focus on Trusted ID. To this end, the group has conducted a major kitchen-
sinking exercise involving impairments and write-offs of c.RM316m over FY17 and FY18. This has helped to stem the
bleeding from the non-core assets and brought the group back into profitability in the past three quarters. The exercise is
almost concluded, with only a few more non-core assets remaining such as its Food and Agro (Rimbunan Kaseh) and
mining (Plaman Resources) businesses, which are still dragging its profitability. We believe that the Rimbunan Kaseh project
could be handed over back to state government by the end of 1HCY19, while the intended disposal of its mining business in
New Zealand could potentially be concluded this year as well, pending approval from local authority.
Under the Trusted ID segment, we understand that its contract to supply 2.5m units of 32-page Nigerian electronic passports
(contract value: c.RM170m) is expiring in August this year while the contract from the Senegalese government to supply
10m multi-application ID biometric cards (contract value: c.RM346m) is being fulfilled (>80%) well ahead of expiry in mid-
2021. Again, given IRIS’ technical knowhow and capabilities in the digital ID space, we believe the contracts could possibly
be renewed as soon as this year. Based on Trusted ID’s earnings per se, the stock is only trading at 7x FY19E PER, even
before factoring in the IC contract. Currently, the bulk of Trusted ID revenue comes from the African continent (70-80%),
while Malaysia contributes less than 10% of total revenue.
Risks include unexpected cancellation of contracts, failure to renew contracts before expiry and cost overruns.
11/11/2019 3:06 PM
itch Still waiting for that 0.20c ...
11/11/2019 3:06 PM
Mabel @itch Still waiting for that 0.20c ...

Sound good to me itch!

Thanks for sharing the above reports.

Cheers!
11/11/2019 4:05 PM


 

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