IRIS CORP DEPUTY MD SUSPENDED FOLLOWING ARREST BY MACC

PETALING JAYA – Iris Corp Bhd deputy managing director Datuk Hamdan Mohd Hassan’s executive powers have been suspended following his arrest by the Malaysian Anti-Corruption Commission (MACC) yesterday.

In a filing with Bursa Malaysia today, the company said that Hamdan was arrested for alleged abuse of power and involvement in corrupt practices in the e-passport project for the government of the Republic of Guinea.

MACC obtained a remand order for six days at the Magistrates Court at Putrajaya today, to facilitate their continued investigations.

Pending the finalisation of the investigations, COO Choong Choo Hock will take over Hamdan’s duties and responsibilities as acting CEO of Iris Corp.

“In the meantime, Iris Corp will extend its complete cooperation to the MACC in its investigations,” the company said.

Iris Corp had signed a 15-year contract with the government of the Republic of Guinea for the implementation of the e-passport facility in that country.

It does not expect the remand of Hamdan to have any implications on the validity of the contract and the e-passport project nor any material effect on the earnings and net assets of the company for the financial years ending March 31, 2017 and 2018.

– Sundaily

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