Nexbis' Maldives project still on

Nexbis' Maldives project still on

Mobile security solution vendor Nexbis (ASX:NBS) said its contract with the Maldives Immigration Department has not been frozen, despite reports to the contrary.

The company has received formal notification from the Maldives Minister of State, Ilyas Hussain Ibrahim, that the border control project is going ahead.

Ibrahim apologised for the “intense media speculation that may have caused damage to Nexbis' good reputation,” and said the project is progressing to its original rollout schedule.

Nexbis shares fell 6% on Friday, after Maldives press claimed Ibrahim had said the project was suspended pending a corruption probe.

The nations' Anti-corruption Commission Commission was investigating the means through which the deal was awarded, the reports claimed.

The immigration department separately provided more details of the project. Nexbis will develop a full border-control system, with biometric facial and fingerprint identification.

The project also includes an International Civil Aviation Organization (ICAO) compliant passport data capture and store system, an interagency border control watchlist database and a global passport security database.

The department is also considering adding an iris biometric component to the system, but said the technology is currently not mature enough, and ICAO-standard passports do not yet store the information required to make such a system work.

Nexbis won the 20-year build, operate and transfer contract through an open auction process. Its involvement was first announced in October.

NBS shares closed Monday's trading 2.7% higher at $0.076.

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Tags NexBisbusiness dealsASX:NBS

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