Reference is made to the Company's announcements dated 4 January 2022, 27 January 2022, 18 February 2022, 1 March 2022, 22 March 2022, 5 April 2022 and 5 May 2022 on the above matter.
Unless otherwise defined, the terms used herein shall have the same meanings as defined in the earlier announcements.
Further to the filing of S5’s Notice of Appeal dated 3 May 2022, S5 has written to the Court of Appeal to withdraw their appeal and a hearing date was fixed on 19 May 2023.
IRIS wishes to inform that at the hearing on 19 May 2023, S5 withdrew the appeal and the Court of Appeal awarded cost of RM2,000.00 to IRIS subject to allocator fee.
@justinyeoh:>Bad news they are going to face more cash flow issue and myeg will continue to intact until 2026.
BLee: Quite true as one more year added to the contract; profit if any will be spread out further. I think that is the reason 80% of the contract/holder was encashed to raise $ for further project financing. Judging from the few good news recently, the sale of this 80% should go through. Hope no more hindrance, TradeAtYourOwnRisk..
Sorry, just stating the obvious: Since the gov extended the contract by 1 year, this not only means that the contract was correctly awarded but also the delay was reasonably for whatever the reason. It seems very reasonable the delay was due to various covid-related interruptions.
Previously the govt said will announce investigation into NIISE contract awarding allegations by end Apr? If the govt did not find any wrongdoing, they should issue an official statement on the conclusion. Did they?
Wow... Let s see who is back :) This Qr can view from some added points. First, negative cash flow implies company not well manage cost and receivables and second
Iris Qr, without taking much progress in NIISE can achieve this kind of revenue from card and security paper oversea. Is a matter on long term how the company can manage their cost effectively
Just want to share my last week experience of clearing immigration at Melbourne. I just inserted my passport into the auto gate and keyed in a few answers, and it printed out a small slip which i took to the custom, and the clearance was easy (I carried no plant or fruit). Thank you IRIS, as the 1st inventor of e-passport! When IRIS won the NIISE, it went up to about 40sen. Well, now contract no issue, so why it can't recover back to at least >25sen? Topping up and waiting :)
@CalculatingAbbey Thank you. I believe the payoff will come. Am enjoying my moka pot coffee too. One more piece of info: The average private placement is 23sen.
Sell next month below 8sen. When you're forced to sell 80% of a lucrative contract.. What does that tells you? Especially when all our eyes are on the issue?
If you want convince ppl buy must tell when the share price push to this level even lower than the presune price of substantial holders. What is the rationale they do this behind :)
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hhhiii123
824 posts
Posted by hhhiii123 > 2023-05-22 20:18 | Report Abuse
another court case appeal withdraw, something big coming?