Quick take: Iris Corp shares rise on Miti contract news

January 30, 2020 editor Iris Corp, MITI

KUALA LUMPUR: Shares of IRIS CORP Bhd rose in active trading on Wednesday, after the company announced that it won a contract from the Ministry of International Trade and Industry (MITI).

The counter rose 7.69%, or one sen to 14 sen with 12.11 million shares traded.

Iris Corp has secured a RM3.94mil contract from MITI for the provision of control card access meeting rooms for the upcoming Asia-Pacific Economic Cooperation (APEC) summit this year.

It said the one-year contract dated Jan 23 will not have any effect on its share capital and shareholding structure.

“However, the contract is expected to contribute positively to the earnings and net assets per share of Iris for the financial years ending 31 March 2020 onwards until the expiry of the contract,” the group said.

Source: TheStar