KUALA LUMPUR: Iris Corp
Bhd announced that the Ministry of Home Affairs has cancelled its RM1.12bil contract for the National Integrated Immigration System (NIISe) with immediate effect.
It said in a filing with Bursa Malaysia its wholly-owned subsidiary, Iris Information Technology Systems Sdn Bhd (IITS), which was contracted as a developer for the new immigration system, today received a notice from the Ministry dated Aug 10, 2023, terminating the contract
Iris said it is seeking legal advice from its solicitors and will take necessary action to protect its interests and exercise its legal rights in relation to the contract.
"The termination of the NIISe Contract is expected to have an impact on the Group’s financial performance for financial year ending March 31, 2024.
"However, the extent of the impact cannot be reliably ascertained at this juncture," said Iris.
It added that the termination is not expected to have any material operational impact on the group.
At the close of trading, Iris was trading unchanged at 8.5 sen a share with 2.53 million shares done.
