Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Wednesday, February 3, 2010

Iris JV wins RM259.7m tender in Bangladesh

IRIS Corporation Bhd's joint venture with Data Edge Ltd and Polish Security Printing Works has been awarded a tender for the introduction of Machine Readable Passport and Machine Readable Visa in Dhaka.

In a filing to Bursa Malaysia today, Iris said the company was notified of the tender award to the joint venture by the Bangladeshi government yesterday.

The notification of tender award constituted the formation of a contract with an estimated price of Tk5,261.47 million or US$76.09 million (RM259.70 million), it said.

It said the contract agreement would be binding upon the joint venture furnishing a payment of Tk.101.53 million or US$1.47 million (RM5.02 million) as performance security to the Bangladeshi government within 21 days and upon signing the final contract agreement within 28 days.

The agreement would contribute positively to the earnings and earnings per share of the ICB Group in the future, it added.

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