Having been awarded the RM1.12 billion contract for the National Integrated Immigration System back in 2021 by the Home Ministry, the company has today been served with a termination order with immediate effect
In a Bursa filing, Iris Corporation Berhad through its subsidiary Iris Information Technology Sdn Bhd System which won the award has informed that it has on 14 August 2023 received a letter from KDN (Home Ministry) dated 10 August 2023 wherein KDN has served IITS a notice of termination to terminate the NIISe Contract with immediate effect.
Iris said IITS is seeking legal advice from its solicitors in relation to the notice of termination and said it will take necessary actions to protect its interests and exercise its legal rights in relation to the NIISe Contract.
The termination of the NIISe Contract is expected to have an impact on the Group’s financial performance for the financial year ending 31st March 2024. However, the extent of the impact cannot be reliably ascertained at this juncture.
The termination is not expected to have any material operational impact to the Group.
