Iris Corporation Berhad

NIISe Bid Race to be Revealed Soon: Who Will Emerge Victorious?

Recent reports suggest that $DNEX / 4456 (DAGANG NEXCHANGE BERHAD) and $THETA / 9075 (THETA EDGE BERHAD) are currently leading the bid for the National Integrated Immigration System (NIISe) project. According to sources cited by The Edge, the tender committee met last week to shortlist the proposed awardees, with an official announcement expected soon.

$IRIS / 0010 (IRIS CORPORATION BERHAD) originally secured the project in 2021 with a bid of RM1.16 billion. However, the contract was terminated in August last year due to delays.

The NIISe project aims to integrate border control systems across various units under the Ministry of Home Affairs, enhancing national border security and improving immigration management efficiency.

DNEX’s bid is higher, ranging between RM1.1 billion and RM1.2 billion, and proposes using the existing government system. In contrast, Theta's bid is lower at RM800 million, suggesting the development of a new border control system. Sources indicate that DNEX’s proposal is more standardized and rigorously tested, while Theta offers a cost advantage but needs to focus more on system development.

Rumors also suggest that Theta is preparing to poach senior executives from $HTPADU / 5028 (HEITECH PADU BERHAD), another shortlisted bidder. The NIISe project bid is highly competitive, with DNEX, Theta, and HeiTech Padu emerging as the final three contenders. Previously, $REDTONE / 0032 (REDTONE INTERNATIONAL BERHAD) was also in the race. BJCORP founder Tan Sri Vincent Tan, who holds a 40.79% stake in REDtone Digital, has acquired 600,000 shares in Theta and 3.2 million shares in DNEX.

Despite REDtone Digital’s active maneuvers, they eventually paused, leaving DNEX, Theta, and HeiTech Padu as the top contenders.

Interestingly, Theta's share price has outperformed DNEX recently. Over the past month, Theta's share price has increased by almost 50%, while DNEX’s share price has decreased by 6%. This performance, coupled with Theta's recent contract awards, suggests that Theta might have a higher chance of winning the NIISe project.

Change of Company Secretary - WONG YOUN KIM

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

OTHERSIRIS CORPORATION BERHAD ("IRIS" OR "THE COMPANY")
- SHAREHOLDERS AGREEMENT BETWEEN IRIS TECH VENTURES SDN BHD AND AITKEN SPENCE INTERNATIONAL PTE LTD

$IRIS / 0010 (IRIS CORPORATION BERHAD)

OTHERSIRIS CORPORATION BERHAD ("IRIS" OR "THE COMPANY")
- SHAREHOLDERS AGREEMENT BETWEEN IRIS TECH VENTURES SDN BHD AND AITKEN SPENCE INTERNATIONAL PTE LTD

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period

OTHERSIRIS CORPORATION BERHAD ("IRIS" OR "THE COMPANY")
PROPOSED DISPOSAL OF 80% EQUITY INTEREST IN IRIS INFORMATION TECHNOLOGY SYSTEMS SDN BHD FOR A CASH CONSIDERATION OF RM70 MILLION ("PROPOSED DISPOSAL") - TERMINATION OF THE PROPOSED DISPOSAL

MULTIPLE PROPOSALSIRIS CORPORATION BERHAD ("IRIS" OR THE "COMPANY")

(I) CAPITAL REDUCTION; AND

(II) SHARE CONSOLIDATION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

MULTIPLE PROPOSALSIRIS CORPORATION BERHAD ("IRIS" OR THE "COMPANY")

(I) CAPITAL REDUCTION; AND

(II) SHARE CONSOLIDATION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

E-INVOICE – Revamp of Malaysia's Taxation System

$ADB / 0276 (AUTOCOUNT DOTCOM BERHAD) $SLIC / 03008 (SL INNOVATION CAPITAL BERHAD) $AGMO / 0258 (AGMO HOLDINGS BERHAD) $IRIS / 0010 (IRIS CORPORATION BERHAD) $APPASIA / 0119 (APPASIA BERHAD)

❓WHAT IS AN E-INVOICE?
A digital invoice (only be in XML and JSON format files) that has to be validated by the IRB. E-invoicing will replace traditional paper and electronic documents – invoices, credit/debit notes, and refunds.
- Purpose: To fight tax evasion and minimise tax leakage.
- It will contain 53 fields, some compulsory, some if applicable.
- Will enable real-time/near real-time validation of invoices, increasing efficiency.
- Caters to B2B, B2C, and B2G transactions.
- E-Invoices will contain the essential information as a conventional invoice (supplier & buyer details, item descriptions, quantities, prices, etc.).
- ESG involves tax transparency (falls under Governance).

⚖️WHEN ARE E-INVOICES NEEDED?
1. As proof of income when seller sells a product/service.
2. As proof of expenses when buyer buys a product/service from entities that are exempted from issuing e-Invoices.

🔨 IMPLEMENTATION?
PHASE 1 – Taxpayers with over RM100M annual revenue/turnover (implementation 01/08/2024).
PHASE 2 – Taxpayers with over RM25M-RM100M annual revenue/turnover (implementation 01/01/2025).
PHASE 3 – All businesses (01/07/2025).

🗒️TYPES OF E-INVOICES (that you have to upload)?
1. Invoice
2. Debit Note
3. Credit Note
4. Refund Note
~ Only within the scope of sales & purchases.

🧑‍💻E-INVOICE SYSTEM (process):
1. Two ways of issuance of invoice – MyInvois Portal (IRB website, on cloud not server for real-time validation) & API (for larger companies).
2. Then, IRBM validates invoice in real-time (however, there is the possibility of human error).
3. After it has been validated, a notification will be sent to the supplier and buyer.
4. Supplier has to notify the buyer that the invoice has been validated.
5. 6. 7. In the case where information of invoice is wrong, either supplier or buyer has to cancel/request for rejection within 72 hours, then pull back the invoice and redo it.
8. Data of invoice in IRBM cloud will be stored in IRBM database.
9. Supplier and buyer can retrieve invoice data from IRBM cloud.

🌐HOW WOULD BUSINESSES HAVE TO READY THEMSELVES FOR THIS CHANGE?
1. Personnel
- Equip personnel with necessary capabilities to oversee the implementation of e-invoice.
2. Software
- Determine current IT capabilities to support system readiness and processes to comply to e-Invoice requirements (current accounting system, POS, ERP).
3. Review current processes in issuing transaction documents.


Sources: LDHN Malaysia, eStreamSQL, PWC

IRIS - Notice of Book Closure

Share Consolidation

MULTIPLE PROPOSALSIRIS CORPORATION BERHAD ("IRIS" OR THE "COMPANY")

(I) CAPITAL REDUCTION; AND

(II) SHARE CONSOLIDATION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

MULTIPLE PROPOSALSIRIS CORPORATION BERHAD ("IRIS" OR THE "COMPANY")

(I) CAPITAL REDUCTION; AND

(II) SHARE CONSOLIDATION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

Quarterly rpt on consolidated results for the financial period ended 31/12/2023

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period

Writ of summons and statement of claim received by Iris Corporation Berhad (ICB) and its wholly-owned company, Iris Information Technology Systems Sdn Bhd (IITS) from Tec D Distribution (Malaysia) Sdn Bhd ("Writ of Summons and Statement of Claim")

MATERIAL LITIGATIONMATERIAL LITIGATION PURSUANT TO RULE 9.04(F) OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD IN RESPECT OF WRIT OF SUMMONS AND STATEMENT OF CLAIM FROM TEC D DISTRIBUTION (MALAYSIA) SDN BHD

Quarterly rpt on consolidated results for the financial period ended 30/09/2023

MULTIPLE PROPOSALSIRIS CORPORATION BERHAD ("IRIS" OR THE "COMPANY")

(I) CAPITAL REDUCTION; AND

(II) SHARE CONSOLIDATION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period

General Meetings: Outcome of Meeting

Quarterly rpt on consolidated results for the financial period ended 30/06/2023

Change in Boardroom - DR POH SOON SIM

CIRCULAR TO SHAREHOLDERS IN RELATION TO: (I) PROPOSED CAPITAL REDUCTION; AND (II) PROPOSED SHARE CONSOLIDATION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

MULTIPLE PROPOSALSIRIS CORPORATION BERHAD ("IRIS" OR THE "COMPANY")

(I) PROPOSED CAPITAL REDUCTION; AND

(II) PROPOSED SHARE CONSOLIDATION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

General Meetings: Notice of Meeting

Starting next year, IRB is making mandatory the use of e-services. I suppose this includes e-invoicing as well.

Which companies are doing this?

On top of my head I think the potential related companies are

$CENSOF / 5195 (CENSOF HOLDINGS BERHAD)
$IFCAMSC / 0023 (IFCA MSC BERHAD)
$IRIS / 0010 (IRIS CORPORATION BERHAD) ?
$DSONIC / 5216 (DATASONIC GROUP BERHAD)
$MYEG / 0138 (MY E.G. SERVICES BERHAD)

htpadu, and so on.

Anyone heard anything?

OTHERSIRIS CORPORATION BERHAD ("IRIS" OR THE "COMPANY")
- NATIONAL INTEGRATED IMMIGRATION SYSTEM ("NIISE") CONTRACT BETWEEN IRIS INFORMATION TECHNOLOGY SYSTEMS SDN BHD ("IITS"), A WHOLLY OWNED SUBSIDIARY OF IRIS, AND KEMENTERIAN DALAM NEGERI ("KDN")