LIMELIGHT GOES TO IRIS THIS WEEK!

Blogs Headlines

Follow Kim's Stockwatch!

LIMELIGHT GOES TO IRIS THIS WEEK!

sparta

Publish date: Mon, 22 Oct 2018, 02:28 AM

WANT TO BE A SPARTAN?

Click here https://www.telegram.me/kimstock for more details.

DATE: 22 OCTOBER 2018

----------------------------------------------------------

THE STOCK : IRIS

IRIS CORPORATION BHD

----------------------------------------------------------

Current Price : 0.175 cts

Target Price : 0.25 cts & 0.40 cts

Another stock on Kim's eyes.

-------------------------------------------------------

WHY IRIS? NOT MYEG & DATASONIC.

I assume Myeg & Data investor is ready to dump more after discussion on weekend. News from MACC confirmation to investigate them after they denial the wrongdoing. MYEG will become "stock on radar" only for time being. Investor will pull out their shares and wait the case is clear and it will take more time or months.

IRIS current investors and new investor will come in on Monday. TA breakout at 18c. Price should be 23c - 28c till next friday. 2nd signal will start once 19c come to be new support. If that happen, so my personal TP is : 0.35 & 0.40 cts in immediate term. Buy or not? The choice is yours.

E-government service providers could be seeing more jobs in the pipeline as the government intends to pursue digitalisation agenda “aggressively” for higher digital adoption in the public service. In addition, the Government Online Services Gateway will be expanded to offer access to a wider range of online government services through a single portal. At the same time, various digital tools will be utilised in undertaking the government’s digitalisation agenda.

In short, the government’s digitalisation agenda would be a strong growth catalyst to drive the domestic technology industry, especially if there is local content requirement in the public project. Among the public-listed companies that are involved in provision of e-government service are MyEG Service Bhd, Datasonic Group Bhd, Prestariang Bhd, Dagang Nexchange Bhd (DNex), Kumpulan Fima Bhd, and Iris Corp Bhd.

Meanwhile, the Mid-Term Review states that the government wants to intensify and expand e-payment platforms with an emphasis on government transactions “for good governance and reducing corruption”.

MYEG & DATASONIC IN THE SPOTLIGHT?

Both Datasonic Group Bhd and My EG Services Bhd (MyEG) issued clarifications denying making payment to former Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi or anyone to secure projects from the Government.

Both companies denied being a party to the charges that had been filed against Zahid, who earlier today was slapped with 45 charges related to criminal breach of trust, graft and money laundering.

MyEg also said that it received a confirmation from Malaysian Anti-Corruption Commission that neither the company nor its board of directors are under investigation in relation to the charges. Datasonic also clarified that neither the company nor any of its directors had made any payment to Zahid in relation to the supply of chips for passports.

OK, but in my view both parties can denied any allegation has been made just for now. MACC said :

The Malaysian Anti-Corruption Commission (MACC) will investigate all the companies involved in the case of Umno president Datuk Seri Dr Ahmad Zahid Hamidi who was charged with abuse of power and corruption on Friday (Oct 19).

MACC deputy chief commissioner (operations) Datuk Seri Azam Baki said any company and person involved in corrupt activities will not escape investigation.

"We investigate whoever is involved in corruption, so far one company has said they are not involved... it is up to them to say. The clarification will come from MACC, if our investigation shows that the company is not involved in any corruption, they are not guilty,"

https://www.thestar.com.my/news/nation/2018/10/20/macc-companies-involved-in-zahids-case-will-be-probed/

So I dont think both will be back the previous price before its dropped for short or mid term time frame.

---------------------------------------------------------

THE PROFILE

---------------------------------------------------------

IRIS Corporation Berhad is engaged in technology consulting, and implementation research and development in Malaysia. The company, through its subsidiaries, is engaged in the development and manufacture of hardware and software products; marketing and development of airline and airport security systems; research, development, and manufacture of contact and contactless smart technology based products; design, construction, and maintenance of automatic watering and feeding system for agricultural ,horticultural and other purposes. It is also involved in maintaining and servicing autogate, image retrieval identification system; the manufacture, supply, and trade of power and energy related equipment; and the manufacture and supply of incinerators and desalination equipment. In addition, the company provides a range of smart card readers, integrated terminals, card personalization equipment, and biometrics scanners to complement the application of its smart card solutions, as well as offers Digital Conferencing System and Immigration Autogate. IRIS Corporation was incorporated in 1994 and is based in Kuala Lumpur, Malaysia.

Regards,

Kim Stockwatch

Telegram : https://www.telegram.me/kimstock (Real live time trading)

Or Join Spartan Group Traders (SGT) Just PM via telegram @spartatrader for details.

Featured Posts

MQ Trader

Introducing MY's First IPO Fund for Sophisticated Investors!

MQ Chat

New Update. Discover investment communities that resonate with your ideas

MQ Trader

M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a

Latest Videos