Datuk Hamdan Mohd Hassan

KUALA LUMPUR (Sept 7): Iris Corp Bhd announced that its deputy managing director (MD) Datuk Hamdan Mohd Hassan (pictured) has relinquished his position in the trusted identification (ID) company amid an ongoing graft probe in connection with the company’s e-passport contract with the Republic of Guinea.

In a filing yesterday, Iris cited retirement as the reason for the 58-year-old’s departure. Hamdan had been deputy MD of Iris for four years since Aug 27, 2013.

Between November 2016 and January 2017, Hamdan also served as acting chief executive officer (CEO) of Iris, after Iris group MD and CEO Datuk Tan Say Jim went for an indefinite leave of absence on Nov 7, 2016 for personal reasons.

On Jan 20 this year, Hamdan was nabbed by the Malaysian Anti-Corruption Commission following allegations of graft relating to the Guinea contract, which was reportedly valued at RM739.21 million.

Hamdan allegedly demanded bribes to supply and implement secure chip technology solutions in the country. The 15-year contract was inked in February 2014.

In March, the group was hit with a lawsuit by Roxwell Group Sdn Bhd claiming for RM169.48 million in alleged unpaid commissions over the same project.

Hamdan’s role as acting CEO was subsequently taken over by chief operating officer Choong Choo Hock, while Hamdan’s executive powers were suspended.

Iris shares slid 2.94% or half a sen to close at 16.5 sen yesterday, giving it a market capitalisation of RM407.86 million.

This article first appeared in The Edge Financial Daily, on Sept 7, 2017.

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