Who supposedly is the front runner?

Today is the last day of PP if no extension given.

Big Shark sudah kena tangkap. Sekarang fundamental play. Slow but sure.

Syndicaters of Vun Stock Rigging Crime coffin?" https://kennethvunyunlun.wordpress.com/category/criminal-trail/

All counters limit up today! Then.....APRIL FOOL!

I have a gut feeling that BJ corp or people related to it may be a party to the remaining PP subscriptions.

Can fall but at 33 sen, PP not attracive at 0.314 unless they want the price to be lower than 0.314 sen. If it does, then the CFO has to be sacked for incompetency.

4 tranches issued to date, total 205 mill shares.
91.5 million PP Shares need to be offered to subscribers before 6 July 2021 new expiry date, extension given by Bursa.

Learn the way they play. If the PP not completed, it will ding dong between 34 ton36 sen. Below 34 sen can sapu, above 35 don't touch and 36 sen can sell.

Married deal 45 M shares, PP trache 1-3 190 M shares, changes at senior board level. It simmering ready to explode but when?

Is it when the remaining PP is fully subscribed or cancelled, is it when they announce the new senior management and the shareholding or is it when they annouce the India Project to be the catalyst for the market bull run?

Unless the remaining PP shares are not cancelled the shares will be traded around 34.5 to 36 sen, to wait for the remaining PP to be subscribed.

It the share prices goes up higher than expected, other new subscribers may not want to subscribed at higher price compared to the earlier subscribers subscription and if they got the same price, the earlier subscribers may not be too happy for not getting similar discounts like the new subscribers. Unless they know how to please the others, it going to be a dull market for Iris shares until the remaining PP share has been resolved.

Getting big project has it cost. The PP is meant to share the cake. Until this is sorted out, all parties has boarded the bus, we have to wait. The fundamentals and fiancials are there, its the sharing commitment have not.

When the pressure is kept building, imagine the intensity of the explosion when it is released.

It.may be it will take another 2 more weeks or more before the whole PP is exhausted. Now only 3 tranches totalling 190 mill shares has been issued with 105 pp shares remaining to be subscribed.

Maybe they will start playing when its fully subscribed.

If not mistaken the 296 mill shares made up of 10% of total shares and out of that, 2 tranches of 10% each from the 296 mill shares were issued to the subscribers whilst the remaining has not been priced yet. Possibly it has moratorium restriction on those that has been issued and subscribed.. Simply said, I reckoned the shares are not in play yet.

Thanks for the info. However, generally the Performance Bond is 5% of Contract value, but negotiable for large amount to be about 2.5%. If IRIS has margin facility, they may have just to provide about 20% or less of the performance bond value.

Anyway, I believe the performance bind is a non issue as they have raised funds.via the recent private placements exercise.

KinSung Lee How do you derive the Performance Bond to be RM 12.9 million only for RM 1.16 Billion Govt contract?

Nonetheless I think the Performance Bins is now a non issue.

When there is changes at the Board Level, Senior Managment due to a big contract that had been recently being awarded reflects that the people behind the company is getting ready to execute the next stage of the scheme.

When all in place, the game starts.

Since nothing mentioned on the unfulfilment of the Perfomance Bond, it is a none issue and the contract is therefore deemed secured.

Possibly this refer to the long due announcement from the Indian Government accepting the passport chips. It was a 3 months trial issued in Sept 2020 so the result is due anytime. Perhaps this is the announcement.

BigWhiteSand: Anybody heard Iris will have an announcement today? Something to do with distribution?

To make the private placement attractive for the subscribers, they have to supress the share price to within desired price as the pricing of the Private Placement are based on the 5 day average of the market price. By surpressing the Private Placement prices, the subscribers will pay less for more shares. So when the market price being pushed upward, the subcribers will gained handsomely.

The Private Placement shares may have been offered to Corporate Partners, KWSP, KWAP, Local and International Fund Managers to subscribe.

We just wait and see how the game will be unfold.

When Govt awards a contract, they will issue the Letter of Aceeptance for the winning Bidder to accept , based on the terms. Generally a standard 5% performance bond is required condition to seal the deal and the Govt will give 1 month to consider.

If the winning bidder do not accept the terms or can't come up with the performance bond, the offer lapse and the Govt will offer to the next


Iris 1 month end dead line by end of the month, and perhaps they will raise the portion of the margin facility or raise in full through the Private Placement and proceeds from the married.deals to come up the money for the performance bond.

Once the performance bond and the Acceptance Letter (SST) is complete, the Govt contract is firmly sealed.

Surat Setuju Terima SST received 29 th January and by 1 month, must accept with performance bond, otherwise offer cancelled. Performance Bond non issue due to Private Placement and Married deals. So before end of month, the game starts. Watch the trend as it gets closer to the dead line.

Rally starts, meant PP Subscription 5 days weighted average Price has been locked in. Let the Game begins.

Fundamental. No bond no contract. Only smoke.

Let's work backward. Performance Bond of 5% or less will expire on end of February, based on month basis or 2nd Mac on 30 days basis.

Assuming a 70% margin facility is taken from the financial institution, the shareholders need to raise 30% from the market for the intended funds

If it takes 3 days for the sale proceed to be converted to cash for use to purchase PP shares. This may be the trigger for the rally .

Then we can have an estimate, when the rally is going to start because we know there is a deadline to meet.

Advise me if I am incorrect. IRIS has to come up with performance bond for a Government contract, normally within 1 month after letter of award has been issued.

Perhaps, to fund the performance bond IRIS will raise it through Public Placement PP share issues and the PP pricing is based on the weighted average of 5 market days. So, to raise cheap capital, the shareholders and the syndicateurs will push the price down to get to the desirable market price, and once the PP price has been locked in, they will rally the price up and sell at their target price, making tons of profit to reimburse themselves the funds injected through the PP. To rally now and limit up on announcement would be detrimental to fund raising and profit objectives as the price will be high and they get less shares for the same amount.

We saw how the 10% PP subscription in play when it was push down to 26.5 sen before it rally up again. Today should be the 5th day of average market price computation and should be enough time to for IRIS to raise funds for Performance Bonds within the deadline 2nd March.

Then all hell will let loose. The IRIS share price is ripe for the game. Quadruple limit up over time to get to its realistic market value for such a big Government Project. Then followed with Maintenance contract, thereafter the Indian Project.

So it boils down to PP subcriptions and Performance Bond to meet the forthcoming rally.