January 14 2006

IRIS Corp Bhd has secured a US$25 million (US$1 = RM3.74) order from Just Solutions Ltd for the supply and implementation of a complete E-Passport and E-Identification system for Somalia .

Just Solutions is a company incorporated in the United Arab Emirates .

Iris will design, develop and implement the hardware and software to enable the enrolment, production and issuance of up to 2 million each of e-passport books with inlays and e-Identification cards respectively over a five-year period.

Iris is confident that the Somalian order will create more opportunities for the company in the African continent and will enhance its strategic vision in strengthening its marketing resources and partnership distribution channels.

Meanwhile, Iris’s shares rose to an almost one-year high yesterday on talks that its earnings are expected to recover and a new major shareholder may emerge in the firm.

Iris rose 1.5 sen, or 8.11 per cent, to close at 20 sen. It was the most active counter of the day with 52.9 million shares traded.

Iris is the system provider for Malaysia ’s e-passport system and is also the sole manufacturer for the country’s MyKad identification cards.

Apart from that, the talk extends further that a new investor may step into the firm to add strength to its businesses.