Malaysian secure identity solutions firm Iris Corp has won a contract worth 346.2 million Malaysian ringgit (US$83.9 million) from Senegal for the supply of 10 million identification biometric cards over five years.Senegal has an estimated population of 13 million."The contract is expected to contribute positively to Iris' earnings for the financial year ending March 31, 2017 (FY17) and the FYs thereafter," the company said yesterday in a filing with Bursa Malaysia.The company said it had entered into a contract with the Interior and Public Security Ministry of Senegal to produce and supply new multi-application identity biometric cards based on contactless chip technology and 10 fingerprint biometry on May 2."The ministry's consent or approval was duly received by Iris on May 27," it said.The total contract price of 76.2 million euros (RM346.2mil) will be sub-divided over five annual payments of 15.24 million euros each.Earlier this month, Iris had said it was selling non-core assets to realign focus on core businesses that included identification solutions and systems, education, construction and the property development division.In a separate statement, Iris said despite lower revenue, it returned to the black with a net profit of RM1.79mil for its fourth quarter ended March 31, from a net loss of RM26.34mil in the corresponding quarter last year, thanks to lower cost of sales.
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