"KUALA LUMPUR: The government does not intend to review or restructure projects implemented by the previous administration, the Economy Ministry said.
In a written reply posted on Parliament's website today, the ministry said all projects would continue to be implemented in line with the procurement procedures that are profitable to the government."
Does this include NIISe project, or does it still have to wait until next month??
I thought Iris were awarded the Niise project with S5 participation in the project as a term and condition. Then, why Iris is being drag into the so called "son-in-law" chaos? I thought this guy only relates to S5 not Iris?
Some MP brought over nuisance into parliament for a purpose of content. Look at what happened to MP Lim Lip Eng now. I seriously think new gov is arming themselves to end the PN's power once and for all by raising a political contract issue under MY's reigned. On top, the next person to end his political career is those at Sheraton 2020. Iris is used as scapegoat. Hope AI will give way to the innocent during this internal war.
1 OWNER - Home MInistry 2 Contract Holder - A consortium IRIS + 3rd Party Company. Purpose; Qualify for Bumiputra status; technical / financial criteria 3 Subcontractor - Technology / technical provider; NEC
This consortium has met all requirements above. If there is political connection, there is no evidence so far. This consortium already declared that no one in their organization has any interest or relatives in Home Ministry.
1 day ago
Who was the HM at that time? Ask him then. During the transition, whoever dare to go hanky panky have to join fate with the 0nemdb bossku...didn't these ministers learnt?
In another case announced by SC[9] in 2017 pertaining to the shares of Iris Corporation Berhad (“Iris”), the High Court had declared in favour of SC against defendants for their role in the manipulation of Iris shares in 2006. All 7 defendants were declared to have conspired to manipulate the share price of Iris. The manipulation was conducted through a complex layering of the origination of the orders and transactions via foreign intermediaries. The defendants collectively used numerous trading accounts to create an artificially strong demand for Iris shares. It had caused the price of Iris shares to rise from RM0.08 to a closing high of RM1.36 per share with an average of 200 million shares being traded daily over that period.
In 2012[10], SC charged a former remisier in the Kuala Lumpur Sessions Court and another individual for abetting the manipulation of shares in Lii Hen Industries Bhd (“Lii Hen”) by creating a misleading appearance of active trading of Lii Hen shares by being involved in the sale and purchase of Lii Hen shares that did not result in any change of beneficial ownership. The trades were executed through 42 accounts at nine stockbroking companies between March 2004 and October 2004.
In 2010[11], SC obtained convictions against 2 individuals for their involvement in the manipulation of Fountain View Development Bhd (“FVD”) shares. The first defendant, a former director of FVD, pleaded guilty to the offence of creating a misleading appearance of active trading of FVD shares on Kuala Lumpur Stock Exchange (now known as Bursa) through at least 20 CDS accounts which were beneficially owned by the accused through the companies that he controlled. The second defendant pleaded guilty for abetting the first defendant whereby he was responsible for executing and relaying orders for the sale and purchase of the shares during the material time to various stockbroking firms.
The update by KDN seems positive, mentioned progress though is slower than expected due to some labor bottleneck. Doesn't seem to have any wrong doing in rewarding the contract.
I posted the below abt 2 wks ago and now seems like iris holders may hear some good news soon.
pinetree88
The update by KDN seems positive, mentioned progress though is slower than expected due to some labor bottleneck. Doesn't seem to have any wrong doing in rewarding the contract.
Better going up with silent(when the price going up with no any news publish,maybe Iris can going up 100%),if good news come out,that's mean can sell already。
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MQ Trader 2909 views | 2 d ago
0:17
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BLee
857 posts
Posted by BLee > 2023-03-16 23:17 | Report Abuse
"KUALA LUMPUR: The government does not intend to review or restructure projects implemented by the previous administration, the Economy Ministry said.
In a written reply posted on Parliament's website today, the ministry said all projects would continue to be implemented in line with the procurement procedures that are profitable to the government."
Does this include NIISe project, or does it still have to wait until next month??
News as per link:
https://www.nst.com.my/news/nation/2023/03/889946/govt-does-not-intend-reviewing-projects-implemented-previous?utm_source=nst&utm_medium=mostpoplatest
Happy Trading and TradeAtYourOwnRisk..