KUALA LUMPUR – The on-again, off-again National Integrated Immigration System (NIIS) looks set to sizzle the stock market this week, ending the year with a bang.
Speculation is rife that after five months of anticipation, the government is finally ready to award the RM1.5 billion project to the winning company in the next five days.
“If this materialises, it will be an injection to a stock market that has been somewhat flat for the past week,” a trader from Maybank Securities told The Vibes recently.
“It would be a boon to traders as they look forward to the new year, and reflect well on the government’s initiative to improve its delivery system.”
It was reported that Iris Corp Bhd and MyEG Services Bhd are among the front-runners for the project to replace the existing Malaysian Immigration System (MyIMMs).
The contenders for the contract are said to total 25, including HeiTech Padu Bhd and DagangNeXchange Bhd.
The companies have put in bids of between RM1 billion and RM1.8 billion for the government to consider.
NIIS is the newly revamped version of the National Immigration Control System (SKIN).
It was awarded to Prestariang Bhd in 2017 under a 15-year concession at a contract value of some RM3.5 billion.
The Home Ministry under the Pakatan Harapan administration terminated the SKIN contract in December 2018 due to rising costs, and fresh tenders were called in May last year.
Prestariang sued the government in April 2019 for RM732.8 million in damages.
According to news reports, NIIS includes elements of facial recognition using artificial intelligence and the use of big data analytics, such as information on people’s travel history being available to officers at the touch of a button. – The Vibes, December 28, 2020
