Iris to partner with US digital security company

KUALA LUMPUR: Digital identity and business solutions company Iris Corp Bhd will be partnering with US authentication and digital security company TruTag Technologies Inc to look into the potential for smartcard and secure label applications globally.
Both parties today signed a letter of intent (LoI) to jointly develop smartcard and secure label applications to help enhance traceability and security document identification, eliminate counterfeit products and improve supply chain visibility.
"This collaboration is actually to build and enhance the current technology that Iris has. So we gonna work together and create more products that are suitable for Malaysian market and we are also targeting Southeast Asia," Iris acting CEO Choong Choo Hock said at the signing ceremony here today.
Felda, which holds a 21.33% equity stake in Iris through Felda Investment Corp Sdn Bhd (FIC), is positive on the partnership between the two companies.
Felda new chairman Tan Sri Shahrir Samad who witnessed the signing event said that the proposal will be discussed by the boards of Felda and FIC to map out the potential markets and sectors to target.
TruTag is the only company in the world with covert and edible optical memory microtags that can be applied to both consumables (pharmaceuticals, food and beverage) and secure documents.