Govt cancels RM1bil NIISe contract 19m ago Comments
PETALING JAYA: The government has cancelled RM1bil worth contract for the National Integrated Immigration System (NIISe) project that was awarded to IRIS Information Technology Systems Sdn Bhd.
so bad, anyway IRIS still a company possess leading technology in TrustID solution, hopefully one day the price can jump and become the star lol. Malaysia only contribute less then 30% of their total revenue, the impact still acceptable, just not sure how much revenue generated from NIISE
Feel tired to those political project. How many donkey years to complete one key project in malaysia? I guess need 20 years..because it will start and cancel each term of PM. Vietn and Thailand are running full speed ahead of us
Belum lagi (untuk batalkan kontrak syarikat), benar mesyuarat Kabinet ada membincangkan kertas saya angkat untuk tujuan perbincangan (projek NIISe) iaitu kertas bernama nota Jemaah Menteri yang bermaksud hanya bersifat pemakluman bukan hanya memo.kat-kendalikan-projek-niise-diketahui-april-ini-saifuddin/
IF every term proposed by cabinet to cancel project, this will CHASE OUT MANY INVESTORS AND LOCAL COMPANIES FROM investing in Malaysia. POLITICIANS WILL TAKE THE RESPONSIBILITIES FROM CANCELLING THE PROJECTS and hope they will be brought to court for doing so.
The NIISE project have already running in a year time and IRIS ALREADY IN TAlKING TO SELL OFF NIISE PROJECT TO TTSB. They understand that they IRIS are unable to complete NIISE. so what now?
will gov paid the compensation for suddenly cancelling the project?
From TheStar "Govt cancels RM1bil NIISe contract with IRIS Information Technology Systems NATION Saturday, 11 Mar 202312:57 PM MYT…According to sources quoted by MalaysiaGazette, the company had been facing delays in completing the project." and 11 hours later..again from TheStar "NIISe project: Company to know its fate in April, says Saifuddin By ALLISON LAI NATION Sunday, 12 Mar 202312:00 AM MYT" Link: https://www.thestar.com.my/news/nation/2023/03/12/niise-project-company-to-know-its-fate-in-april-says-saifuddin
Lesson Learnt: Only read News from known "Source" and NOT from According to sources. Happy Trading and TradeAtYourOwnRisk(Source)
Don't think it has any bearing considered Iris having sold project in advance for the cash and price already discounted by market.
What people are more interested in is how they plan to use the cash on hand to generate more upstream revenue for the corporation's future sustainable outlook. This, is the reason why people invested in IRIS in the first place.
"iris contract bukan niise saja contract luar negara ada lagi takut apa ..aiya"
"Bettyem> Don't think it has any bearing considered Iris having sold project in advance for the cash and price already discounted by market."
The problem is "bad news" sticks longer in mind than "good news"?? Prices are always reacting (falling) faster for any rumors/bad news?? People tend to ignore the latest QR performance and proven track record especially NEC is part of this "sick" project progress?? Iris still holds 20% after the transaction..so time will tell the right from the wrong.
@BLee a very rational observation from you. Anyway market already priced in current news on Niise project as already dropped from 0.165 in February to all time low now.. Even Dr. Poh bought from market at 0.115 lately and most substantial shareholders subscribe for Iris at 0.12, so downside risk already mitigated..but if people wants to sell low on rumours..many are waiting to grab cheap bargains as Iris still profitable biz as only 30% income from Malaysia, majority of 70% derived from overseas contracts?
Saifuddin emphasised that the Home Ministry was committed to the success of the NIISe project and protecting the interests of the users, including the Immigration Department, to ensure that the delivery of services to the people is not affected. https://www.theedgemarkets.com/node/658765
Who is spinning? Saiful or IRIS? as IRIS has given an update on Niise before...mmm mmm...
"Group chief executive officer of IRIS Corporation Berhad, Shaiful Zahrin Subhan said they have worked side by side with Immigration Department officers on a daily basis to ensure the project which started in March last year is successfully delivered.
“We are now deep into the project and work closely hand-in-hand with the Ministry of Home Affairs especially the Immigration Department and also other related government agencies that will method to the system once it is ready.
“We are looking very much forward to the project. We have our project team…to specifically manage this project together with all our partners. The prototype (NIISe) is ready and what we have to do (now) is develop the software for the system.
“So we are confident to deliver the system by the time given which is in the next two years,” he told a press conference after the Automated Biometric Identification System (ABIS) and Border Control Solution (e-Gate) subcontract handover ceremony between IRIS and NEC Malaysia here today."
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CyrusQ
2,055 posts
Posted by CyrusQ > 2023-03-07 17:11 | Report Abuse
Heading to the south ? can reach 3 cent ?