KDN terminates the NIISe contract operated by Iris Corp with immediate effect
August 15, 2023 09:00 MYT
Iris said it is seeking legal advice and will take the necessary actions to protect its interests and exercise its rights in relation to the contract. - DagangNews photo
KDN terminates the NIISe contract operated by Iris Corp with immediate effect
Iris said it is seeking legal advice and will take the necessary actions to protect its interests and exercise its rights in relation to the contract. - DagangNews
KUALA LUMPUR: Iris Corp Bhd announced that the Ministry of Home Affairs has canceled its contract for the National Integrated Immigration System (NIISe) with immediate effect.
In a notification to Bursa Malaysia, Iris said its wholly-owned subsidiary, Iris Information Technology Systems Sdn Bhd (IITS), which was contracted as a developer for the new immigration system, yesterday received a notice from the Ministry dated 10 August 2023, regarding the termination of the contract.
Iris said it is seeking legal advice from its solicitors and will take the necessary actions to protect its interests and exercise its legal rights in relation to the contract.
The termination of the NIISe Contract is expected to impact the Group's financial performance for the financial year ending 31 March 2024.
"However, the extent of the impact cannot be determined with certainty at this time," said Iris.
The company added that the termination is not expected to have any material operational impact on the group.
As the stock market closed yesterday, Iris traded unchanged at 8.5 sen per share with 2.53 million shares traded
