Posted by sheep > 2023-02-11 10:38 | Report Abuse

Something very very fishy with this company... they quickly sell the project to a private company ... even though it bring more suspicions to the company.. pump to dump on monday? wakakakaka

Posted by momochick > 2023-02-11 13:36 | Report Abuse

iris gonna reach 0.2 soon

Posted by Michael R. > 2023-02-11 14:03 | Report Abuse

Even recently their top bosses leave..

Posted by Michael R. > 2023-02-11 14:04 | Report Abuse

Do they really serious to deliver NIISE ? Is it signs of disaster incoming??

Posted by Jokers2020 > 2023-02-11 14:25 | Report Abuse

as usual dapat tender then sub out to others and others ...easy money in pocket

Posted by Jenggo Jenggo > 2023-02-11 15:05 | Report Abuse

Share sell agreement .. gap up Monday

Posted by Peace99 > 2023-02-11 15:34 | Report Abuse

Group finance Mr H'ng did the calculations, and....

Posted by Hotstuff > 2023-02-11 15:40 | Report Abuse

big red flagged. no way to hide. otak rosak baru ckp gap up. I see no reason to naik pun. so fishy. iris boss wanna cash out and run away. pls tangkap and forfeit his passport

Posted by BLee > 2023-02-11 16:17 | Report Abuse

https://www.klsescreener.com/v2/announcements/view/4316567

From the attachment of above link, info summarize for IITS as below:-

- As at the date of SSA, the total issued and paid-up shares capital of IITS is Six Million (6,000,000-00) ordinary shares and Ringgit Malaysia Six Million (RM6,000,000-00) respectively.

- the net profits attributable to the Company and net assets value are RM0.48 million and RM37.50 million respectively.

- As at the date of SSA, the Company had advanced a total amount of Ringgit Malaysia Thirty Three Million Four Hundred Four Thousand Eight Hundred Fifty Nine And Sen Fifty Three (RM33,404,859.53) only to the IITS as Shareholder’s Advances, which forms a debt owing by IITS to the Company.

- Upon completion of the Proposed Disposal, the Company is expected to realize a gain of RM7.22 million in the financial year ending 31 March 2024.

Based on the above details, just monetize investment in IITS which is 'draining' cash flow with still 20% ownership and RM7.22 million gain. Other than that, it will most likely supply manpower to support IITS projects…up or down will be control by Mr Market, Happy Trading and TradeAtYourOwnRisk.

Posted by speakup > 2023-02-11 17:30 | Report Abuse

who says IITS owns NIISe?

Posted by Hotstuff > 2023-02-11 17:33 | Report Abuse

ma geh hai speakup can you not ask stxpid question or not

Posted by Income > 2023-02-11 17:35 | Report Abuse

Crita dongeng

Posted by speakup > 2023-02-11 17:45 | Report Abuse

iris got about rm100mil net cash in bank
after sale, +rm70mil, net cash in increase to rm170mil which is about 5sen/share!

Posted by Abba84 > 2023-02-11 18:56 | Report Abuse

Based on my past experience in putra jaya contractors will be asked t submit a number of documents comprising of finance,technical capability,organisations & structure,human resources,safety policy, procurement capability,bank guarantee s ,most important its price estimate for the project.Securing a contract is no easy task as we look into various factors after RFP,clarifications due process done.After that we rank them according to their performance based submission.
In a nutshell i tend to agree that the award to iris was via proper process no hanky panky or,pushovers,knowing very well on iris experience, technical capabilities before.
Currently MACC is investigating the case n if they found out that iris price is reasonable compounded by past tech.experience notably its past passport jobs then no reason iris is involved in those allegations.

Posted by Peace99 > 2023-02-11 19:47 | Report Abuse

@Abba84 Thanks for sharing your personal experience. I don't know IRIS in details, but from googling around, it looks quite impressive for me, at least considering its beginning.
https://www.theedgemarkets.com/article/ey-world-entrepreneur-year-ey-helps-entrepreneurs-take-leap-world-stage

Posted by Peace99 > 2023-02-11 20:02 | Report Abuse

@BLee, Just wondering how the figure gain 7.22 mil comes about. Is it possible to get this number out of the other figures in the announcement?

Posted by Goodprofit > 2023-02-11 20:03 | Report Abuse

iris cash king lio

Posted by Jenggo Jenggo > 2023-02-11 20:25 | Report Abuse

In share sale agreement feasibility study would be done people don’t simply buy..must be good for both parties .. will gap up Monday go go Iris

Posted by Hotstuff > 2023-02-11 20:28 | Report Abuse

no big funds no institutions interested in iris some more in the middle of big scandal gap up on Monday? daydream??

Posted by bsinvestor > 2023-02-11 21:17 | Report Abuse

like that also can?

Posted by Bradar > 2023-02-11 22:06 | Report Abuse

Whats the exciting news bro. Can share a bit or not?

Posted by Henryjohny > 2023-02-11 22:35 | Report Abuse

better wait and see .. not dare to touch

Posted by speakup > 2023-02-11 22:48 | Report Abuse

Robin Tan, Paul Poh, Ling Hee Keat, Ralph Marshall all masuk Iris by subscribing private placement 20¢. All trapped at high floor.
Now they all must call their fathers/bosses Vincent Tan, Quek Leng Chan, Ling Leong Sik, Ananda Krishnan to rescue them.

Posted by BLee > 2023-02-11 23:25 | Report Abuse

"Peace99 > @BLee, Just wondering how the figure gain 7.22 mil comes about. Is it possible to get this number out of the other figures in the announcement?"

Hi @Peace99, I am also wondering how this RM7.22 mil projected profit calculated as book value and expenses won't be known until a certain cutoff date?? I presume this RM70 mil minus all the known obligation and book value will be the projected profit; bear in mind the Shareholder’s Advances of RM33,404,859.53 shall be waived and/or written off in two (2) stages subject to and only if payments towards the Disposal Consideration are made by the Purchaser to the Company. Therefore it seems NOT a clean RM70 mil cash into account balance sheet?? All these details can be found in the announcement attachment..

Posted by Income > 2023-02-12 05:23 | Report Abuse

Buying big Iris to be millionhaire

Posted by jack2 > 2023-02-12 06:30 | Report Abuse

dont count your profit before the project is completed,
may end up in red if any delayed and cost overrun

at the start of project, can forecast big profit but reality is at the end of contract...

Posted by jack2 > 2023-02-12 08:12 | Report Abuse

Hpadu have many gov projects, check their P&L

Posted by Peace99 > 2023-02-12 09:16 | Report Abuse

hi @BLee, Thanks for your reply. I don't know proper accounting way, so i just hantam, haha: 80% of (6mil+NAV 37.5+Advances 33.4)=0.8*76.9=61.5mil, so profit 70-61.5=8.5mil?

Posted by bjgdila123 > 2023-02-12 11:40 | Report Abuse

aai8k nak kena ....... ini lah politik punya kerja

Posted by shortinvestor77 > 2023-02-12 12:05 | Report Abuse

https://www.enanyang.my/%E8%A6%81%E9%97%BB/%E5%8D%B7%E5%85%A5%E7%A7%BB%E6%B0%91%E7%B3%BB%E7%BB%9F%E5%90%88%E7%BA%A6%E4%BA%89%E8%AE%AE-%E8%89%BE%E5%8A%9B%E6%96%AF%E5%94%AE%E5%AD%90%E5%85%AC%E5%8F%B880%E8%82%A1%E6%9D%83

Posted by wbgov2023 > 2023-02-12 12:53 | Report Abuse

Selepas pendedahan siasatan SPRM kes salahguna kuasa melibatkan mantan PM dan mantan Menteri Dalam Negeri dalam anugerah projek NIISE (sistem IT utama Jabatan Imigresen bernilai rm1. 1billion) , sykt Iris kini telah jual Iris Tech (sykt yg mengendalikan projek NIISE) kepada TassTech. Siapakah TassTech dan kenapa Iris jual?

Posted by wbgov2023 > 2023-02-12 12:55 | Report Abuse

1. Projek NIISE telah diiktirafkan sebagai projek Sakit oleh projek Steering Committee sebab sampai sekarang selepas hampir 3 tahun, Iris masih tak boleh melaksanakan Fasa 1 iaitu Bahagian Analisa Keperluan dan Rekabentuk. Jelasnya Iris tidak berupaya melaksanakan projek ini.

Posted by wbgov2023 > 2023-02-12 12:56 | Report Abuse

2. Kenapa Iris jual? Memang lah Iris akan jual sekarang kerana Iris tak berkeupayaan untuk laksanakan projek dan dibawah pimpinan baru, semua fakta akan terdedah.

3. Siapa TassTech dan kenapa beli? TassTech adalah syarikat miliki Dato Seri Amin atau lebih dikenali sebagai Amin Bangla, warga Bangladesh dan pemilik Bestinet yang telah monopoli pemerdagangan hamba dari Bangladesh ke Malaysia. Dia telah menelan berbillion ringgit dengan caj Rm20ribu seorang hamba dan mengakibatkan kerugian besar kepada syarikat Malaysia seperti Sime Darby dan Top Glove apabila produk syarikat kita di tahan di Amerika Syarikat. Patutlah Amin Bangla nak beli sebab dengan menguasai projek NIISE dan sejurusnya sistem Jabatan Imigresen, dia bole menguasai kemasukan warga asing dan monopoli berniaga hamba sekali lagi.

Posted by wbgov2023 > 2023-02-12 12:56 | Report Abuse

Adakah kerajaan kita akan biarkan seorang warga asing yang terbukti terlibat dalam 'human traficking' menguasai projek sekuriti negara yg paling mustahak???

Posted by speakup > 2023-02-12 14:40 | Report Abuse

Robin Tan, Paul Poh, Ling Hee Keat, Ralph Marshall all masuk Iris by subscribing private placement 20¢. All trapped at high floor.
Now they all must call their fathers and bosses Vincent Tan, Quek Leng Chan, Ling Leong Sik, Ananda Krishnan to rescue them. Their fathers and bosses probably give them a good kaw kaw scolding

Posted by bjgdila123 > 2023-02-12 14:47 | Report Abuse

2x5 dgn MQtech sakit

Posted by Income > 2023-02-12 15:48 | Report Abuse

Posted by speakup > 16 hours ago | Report Abuse

Robin Tan, Paul Poh, Ling Hee Keat, Ralph Marshall all masuk Iris by subscribing private placement 20¢. All trapped at high floor.
Now they all must call their fathers/bosses Vincent Tan, Quek Leng Chan, Ling Leong Sik, Ananda Krishnan to rescue them.


^^^ the Big bosses said eat this…
https://www.facebook.com/reel/573665827553223?mibextid=0NULKw&fs=e&s=TIeQ9V

Posted by Income > 2023-02-12 19:03 | Report Abuse

This is…
https://www.facebook.com/reel/1563720487435627?mibextid=0NULKw&fs=e&s=TIeQ9V

Posted by joyvest > 2023-02-12 19:43 | Report Abuse

LD is expected tomorrow

Posted by BobAxelrod33 > 2023-02-12 19:53 |

Post removed.Why?

Posted by Investgaogao > 2023-02-12 20:11 | Report Abuse

I m here to look for comments only... Welcome to bursa malaysia hahaha....

Posted by joyvest > 2023-02-12 21:31 | Report Abuse

A hotdog is not literally taken as the" dog is hot". likewise, LD here is not literally taken as the normal one but limit is down to the maximum.

Posted by speakup > 2023-02-12 21:37 | Report Abuse

Billionaires Vincent Tan, Quek Leng Chan & Ananda Krishnan gonna come to rescue their son and henchmen

Posted by warchest > 2023-02-12 21:46 | Report Abuse

NIISE is a game changer for IRIS and the company has been investing time and effort for this for many years to get this contract and now they are selling the stake of 80% for RM70 million? This is a dubious deal as it proposed to sell it for an insignificant amount. Bear in mind beside the cost of developing and implementing of the new immigration system, it has a component of maintenance which is highly lucrative and with recurring income

Posted by nicholas99 > 2023-02-12 21:47 | Report Abuse

maybe because investigated already. so just sell it.. this also proved din got things to hide.

Posted by warchest > 2023-02-12 21:48 | Report Abuse

The stakeholders including shareholders and Bursa need to question on this dubious deal. Is Tass Tech sold to the related parties ?

Posted by warchest > 2023-02-12 21:49 | Report Abuse

The right way if is under investigation is to get it investigated and subsequently revoke its contract by immigration. Then to do a re-tender again to other providers

Posted by nicholas99 > 2023-02-12 21:50 | Report Abuse

insider already move before share price reflected.

Posted by warchest > 2023-02-12 21:54 | Report Abuse

Anyway, this development will have negative impact to Iris in the mid term, like it or not. First, on the reputation and its financial position as they have deployed many staff and capex on this. With RM70 million it is too little. Investigation by MACC on both parties is a must

Posted by warchest > 2023-02-12 21:59 | Report Abuse

This is hard hit to its credentials, especially to bid new projects in the region. Hence, we need to seek the Board of Directors to seek an explanation on this. IRIS would not left unscathed with this negative development