The HSR project retender again which incured higher construction cost and longer time. Hopefully, PH can stop the nonsense and move faster to roll out the project
Home minister should explain on the extension in the 1st place. It wasted more tax payer money.
Regardless what, iris is in deep shit tmr..their office will be surrounded by creditors demanding for payment. Already struggling for cash flow and debts.
Only hope they don't default debts. If yes there would fall into PN17 and risk delisting. They very obvious struggling with debts and cash flow issue. Now without 70 cash from sale of the company that got the Project. That is huge blow
So with so healthy balance sheet, why need to sell 80% of the NIISe for just 70m? Now without this 70m, without the project, all the expenditure spent on this project, how big the impact on their cash flow? Not to mention the court case against government would be burning money too
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") We refer to the Company's announcements dated 14 July 2023, 25 July 2023, 28 August 2023, 29 August 2023 and 20 September 2023 in relation to the Proposals. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.
On behalf of the Board, RHB Investment Bank wishes to announce that the Company, had, via its legal counsel, filed an application to the High Court of Malaya in relation to the Capital Reduction pursuant to Section 116 of the Act.
============== (i) proposed reduction of the issued share capital of IRIS pursuant to Section 116 of the Companies Act, 2016 ("Proposed Capital Reduction"); and
(ii) proposed consolidation of every 4 existing ordinary shares in IRIS ("IRIS Share(s)") into 1 IRIS Share upon completion of the Proposed Capital Reduction ("Proposed Share Consolidation").
Further details of the Proposals are set out in the attachment below.
MIMOS and IRIS have collaborated on various projects, such as the development of the Malaysian passport, the electronic national identity card, and the biometric verification system. MIMOS get 80M to expedite MYDigital ID. you think iris will not get benefit? iris will do capital reduction to pay all their debt. then do share consolidation. look at AAX they did it similar thing
To trap ikan bilis to sell lor Imagine u bought 15sen long time ago. Then suddenly now u see 32sen. First thing u will do is fast fast sell all cos u thought u doubled your money.
Buy call 33.5 cents Please consider early april Support 28 cents not break many times Tp 50 cents range in 6 month time.Provided no right issues before 6 month(Tp 50 cents range) 22/3/24 6.04pm
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
pang72
47,372 posts
Posted by pang72 > 2023-08-14 21:45 | Report Abuse
The HSR project retender again which incured higher construction cost and longer time.
Hopefully, PH can stop the nonsense and move faster to roll out the project