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Bangladesh woes weigh down on Iris Corp

Iris Corporation Bhd, which had been recently contracted to issue machine readable passports (MRP) in Bangladesh, has posted a pretax loss of RM17.04 million for the year ended March 31, 2015 – down from a pretax profit of RM35.09 million last year. Alongside the heavy decline in profit, its revenue fell to RM564.49 million from RM573.24 million previously. passport BdAccording to its Bursa filings, the weak performance was due to the pre-operating costs in relation to its Bangladesh MRP outsourcing project – which faced challenges earlier thi...
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