The announcement of the extension of the National Integrated Immigration System (NIISe) contract has prompted a surge in Iris Corporation Bhd shares today (Thursday).
By increasing 9.52% or 10 sen to 12 sen, Iris became one of the most actively traded counters with a market capitalization of RM358.17 million.
According to a filing with Bursa Malaysia, the company announced that its unit Iris Information Technology Systems Sdn Bhd (IITS) has received a contract extension letter from the Ministry of Home Affairs (KDN).
KDN agreed to grant an extension of the work period for a period of 12 months between 1 September 2025 to 31 August 2026.
For the record, IITS has obtained a contract worth RM1.16 billion in January 2021 for a period of 54 months from 1 March 2021 to 31 August 2025.
Meanwhile, Home Affairs Minister Datuk Seri Saifuddin Nasution Ismail said the project had not made sufficient progress as of March 2023.
