STOA/IRIS MERGER is about very big dollars check this >>>
"IRIS and Sitoa, both of which are technology companies, identified the Waste-To-Energy and Renewable Energy businesses as a growing and timely priority and thus appropriate to be acquired by Sitoa because they could potentially achieve an attractive valuation on a U.S. Stock exchange, enhance shareholder value, attract growth capital and expand its business."
merger expected to close before June 30
before signing the letter of intent with STOA
Iris’s new waste-to-energy plant in Phuket a revenue churner
Global smart technology solutions provider Iris Corporation Berhad’s Thai subsidiary PJT Technology Co Ltd (PJT) has opened its municipal solid waste (MSW) incineration power plant (IPP) in Phuket, Thailand that will generate annual revenue of up to US$19.4 million per year based on current load.
Its managing director Datuk Tan Say Jim says electricity generated will be sold to the Provincial Electricity Authority (PEA) under the very small power producer programme and is expected to generated gross annual revenue of between RM55 million (US$17.71 million) and RM60 million based on current load.
There are two sources of income for the project – garbage tipping fee charged to the local authority and the trading of certified emission reductions (CER) under the Clean Development Mechanism (CDM) Programme. Tan declines to comment on the company’s investment costs, return on investment and supply chain.
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