KUALA LUMPUR (May 15): Iris Group Bhd (KL:IRIS), whose share price ended at a seven-month high of 27.5 sen on Friday, told Bursa Malaysia that it is not aware of any corporate development that would have caused the unusual market activity (UMA).
Iris Group said it is not aware of any rumour or report concerning the business and affairs of the group that may account for the unusual trading activity.
The board also said it is not aware of any other possible explanation to account for the spike in its trading.
It added that the group is in compliance with Bursa Securities' listing requirements on immediate disclosure obligations.
The stock jumped 83% to a more than one-year high of 33 sen, before closing the Friday session 52.78% or 9.5 sen higher at 27.5 sen.
It was the third most actively traded stock on the exchange, with 70.43 million shares traded.
At 27.5 sen, the company was valued at RM224 million.
The company, known for its digital identity solutions including electronic passports and MyKad systems, rebranded and transferred its listing from Iris Corporation Bhd to Iris Group Bhd on Jan 7, 2026.
On the same day, executive chairman Dr Poh Soon Sim’s son, Datuk Poh Yang Hong, who previously served as the group managing director from June 2018 to March 2021, was reappointed to the same role.
Soon Sim, 80, who has held the post of executive chairman since Aug 30, 2023 and was once the largest shareholder via Orientalgold Equity Sdn Bhd and Poh Associates Sdn Bhd, has reduced his stake this year to a direct 0.23% and an indirect 2.464%.
Meanwhile, 53-year-old Yang Hong’s stake has gone up to a direct stake of 2.305% and an indirect stake of 10.582%, via Orientalgold Equity and Poh Associates.
For the financial year ended March 31, 2025 (FY2025), the group reported a net profit of RM23.9 million, down 25.8% from RM32.2 million a year earlier, while revenue fell 40.4% to RM221 million due to lower deliveries of ePassports and eID cards across key overseas projects. The group also started supplying Touch 'n Go with smart cards in FY2025.