KUALA LUMPUR (Jan 20): Iris Corp Bhd has appointed its chief operating officer for Iris Trusted Identification Choong Choo Hock as acting chief executive officer, following the remand of deputy managing director Datuk Hamdan Hassan by the Malaysian Anti-Corruption Commission (MACC).

In a filing with the exchange, Iris noted the MACC's allegation of bribery and abuse of power for the 15-year e-passport project for the government of the Republic of Guinea.

"At the Magistrates Court at Putrajaya today, Jan 20, 2017, the MACC has obtained a remand order for six days to facilitate their continued investigations.

"Pending the finalisation of the investigations, Iris wishes to announce that Datuk Hamdan's executive powers are suspended and his present duties and responsibilities as acting chief executive officer of Iris will be taken over by the current chief operating officer, Mr Choong Choo Hock," said the company.

Meanwhile, it said Hamdan's remand will not have any implications on the validity of its contract with the government of the Republic of Guinea nor will it have implications on the e-passport project.

It added that the remand will not materially impact the company's earnings and net assets for the financial years ending March 31, 2017 and 2018.

In response to various local media reports that the nation's confidential information could have been leaked, Iris reassured that there has been no violation of national security and reiterated its commitment to providing the best security levels for its clients.

"Rest assured that as a public listed company, Iris does not countenance any corrupt practice, misappropriation or abuse of power in the course of conducting its business activities.

"Iris has its board of directors and governance structure in place and [has] always taken steps to enhance its corporate governance and good business practices," said the company separately in a press statement.

It added that Hamdan has not been charged by MACC for any offence as of today, and said that the company will not be making any further comment on the matter considering that it is a subject of an ongoing investigation.

Iris closed unchanged at 13 sen, translating to a market capitalisation of RM292.39 million.