Source from: The Star
By SABRY TAHIR |
Date: Friday, July 26, 2002 |
IRIS Corp Bhd made its debut on the KLSE Mesdaq market yesterday with
an 11-sen premium over its initial public offering price of 30 sen.
It traded to a high of 42 sen and a low of 35 sen before closing
at 35.5 sen with 281,837 lots changing hands.
Commenting on the stock’s performance after the listing ceremony
in Kuala Lumpur yesterday, Iris chairman Tan Sri Razali Ismail said:
“It was an impressive start.”
Noting that the counter opened with a 36% premium over the offer
price, he said he expected it to gain weight over time.
Iris managing director Tan Say Jim said the performance of the
counter was impressive but was way below the company’s expectations.
Iris is the provider of electronic travel document and multi-purpose
identification smart card, MyKad, for the Government.
The company specialises in an electronic identification system
that integrates several proprietary and generic technologies to
produce a fully operational computing solution for high security
applications.
On the company’s performance for the current financial year
ending Dec 31, 2002, Tan said sales were “picking up”.
Iris reported a net profit of RM2.26mil last year, compared with
a net loss of RM20,000 in 2000. Turnover increased from RM16.01mil
to RM18.86mil.
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