KUALA LUMPUR (Jan 5): IRIS Corp Bhd's co-founder and managing director Datuk Tan Say Jim has increased his stake in the company to 5.48% via a direct business transaction.
 
According to a filing on Bursa today, IRIS Corp, which is listed under the ACE Market, said Tan had acquired a block of 10 million shares, which represents a 0.49% stake in the group, at 26 sen on Dec 31, 2014 (last Wednesday).

Following the transaction, IRIS Corp said Tan effectively holds 111,733,233 direct shares in the company, with another 32,625,458 indirect shares that represent a 1.6% stake.

IRIS pioneered the world’s first electronic passport and national multi-application smart card, with the implementation of the Malaysian Electronic Passport in March 1998, and MyKAD — the Malaysian Government Multi Purpose Card — in April 2001.

Its counter saw strong interests in September last year, when it clinched the contract for the implementation of the goods and services tax tourist refund scheme from the Royal Malaysia Customs Department.

It was trading at 37 sen on Sept 18, 2014, but rose to 42 sen on Sept 22, before easing on profit taking. It slipped to an all-year-low of 22 sen on Dec 15.

It closed 6 sen or 22.64% higher at 32.5 sen today.