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NIISe is 66% cheaper than SKIN.What interesting now whether they can deliver or not.If yes,government save 2.3 Billion Ringgit.Otherwise,re-tender back to original SKIN price.Hahaaaa
People have forgotten that the company is in possession of MYR 70 million in cash. If you do the math, it's LIQUID that MATTERS. Most investors would regret selling it the minute it rise above 0.30cts per share (I presume maybe by this month).
If people wanted to argue... please enter the discussion with rationale mind. If IRIS hold onto the NIISE project, it'll do them no good at ALL. Phase by phase allocation, do the math = how much per quarter and how much per year till final fulfillment? The 70 mil MYR cash exit is a display of bull strength in its fundamentals!
Debt would not be paid off in the early phase I assume, since many companies are offloading it through long-term working capital and not the short-term. My view is that something of a long-term prospect are brewing. I don't know what it is but I've got a feel that the management might be eyeing for some sort of merger/acquisition/expansion. If that happens, the share price would reflect more than 0.30cts in a few months time....
For me, I don't see NIISE as the mainstream portal for the company to cash in. If NIISE were part of its major project prospectus, IRIS would not sell 80% of its stake for 70 million in cash. Therefore, the company might have something "better" to offer which is why they made a move to finance it with this selling. Otherwise, they could have finance it to stake through the entire NIISE ordeal for the 1.0 billion payback through years of working. This is just my few cents, I think people really underestimated IRIS for who they are and what they did. It wouldn't surprise me if IRIS made past 0.30cts very soon
@NG It's a nice view from an asset POV, however, it's a tech company not an asset fielded company in this case. I value its cash on prospectus of growth not towards the assumption of them having assets on hand. Most of the tech comps had more intangibles than tangibles. Something that I gave a different eye ball on