Malaysian identity solutions firm IRIS Corporation Berhad (IRIS) has formulated a corporate restructuring plan.
In a statement, the company said the plan aims to deliver sustainable, profitable sales growth and long-term value creation for shareholders.
The plan was discussed with Felda Investment Corporation (FIC), which is holding 21.33% shares in IRIS, and the Felda Board at the request of its chairman, Tan Sri Shahrir Abdul Samad. It was positively received and endorsed by both FIC and Felda Board.
The company noted that it plans to to refocus on core business: Since 81% of IRIS revenue is presently from Trusted Identification division, the CRP will refocus on the core of what has made IRIS the technology company it is today an…
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