Wednesday, June 1, 2016

IRIS BAGS RM346 MILLION SENGAL ID CARD CONTRACT

Iris Corporation a digital identity and business solutions company, has clinched a RM346.2 million contract from the Senegal government for the supply of 10 million identification biometric cards over five years.

According to the terms of the contract, the total contract price of EUR76.2 million (RM346.2 million) will be sub-divided over five annual payments of about EUR15.2 million each.

In a separate report, the group said it returned to the black with a net profit of RM6.3 million in FY16, on the back of better margins derived under the trusted identification division on its projects overseas, as well as lower operating expenses.

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