Iris enters into MoU with Trigyn Technologies for projects in India, Malaysia

PETALING JAYA: Iris Corp Bhd had on Tuesday entered into a memorandum of understanding (MoU) with Trigyn Technologies Ltd, a software solutions and consulting services firm, to engage in several projects in India and Malaysia.
In a stock exchange filing yesterday, Iris said that the MoU inked with Trigyn is in relation to a collaboration between the two parties for the implementation of Smart Card Solutions for transportation and logistics, joint product development and go-to market for enterprise mobile solutions.
The MoU also entails system integration via collaboration with original equipment manufacturers (OEMs) for turnkey project implementation, software support for the automated fare collection for rail in India and passenger baggage verification system for Malaysia Airlines Bhd and Malaysia Airports Holdings Bhd in Malaysia.
The collaboration also includes the building of IRIS Industrialised Building System for energy efficient homes in India.
“Pursuant to the Indian government’s aspiration to introduce the proposed projects in India, Trigyn approached Iris to be its collaborative partner with a view of creating a positive and productive synergy in India,” it said.
Iris is of the opinion that the successful implementation of the proposed projects under the MoU will contribute positively to the group’s earnings in the future.
In a separate announcement, Iris said its net profit in the second quarter ended Sept 30, 2015 fell 16.3% to RM4.76 million from RM5.68 million a year ago, while revenue fell 8.1% to RM144.71 million from RM157.49 million.