KUALA LUMPUR (Sept 18): ITMAX System Bhd's (ITMAX) subsidiary has secured a contract entailing the provision of video surveillance services for the Johor Bahru City Council (MBJB) worth RM105.32 million for a 15-year period.

In a local bourse filing on Monday, the group, which debuted on the Main Market of Bursa Malaysia in December 2022, highlighted that the contract will commence from September 2023 to September 2038.

According to the group, the contract, which includes a smart command centre and a closed circuit camera system with artificial intelligence features on a service subscription basis, was awarded by MBJB to its 65%-owned subsidiary, Southmax Sdn Bhd.

“The contract is expected to contribute positively towards its earnings and net assets per share,” it said.

At noon break, shares in ITMAX ended five sen or 3.52% higher to RM1.47, valuing the smart city integrated system and solutions provider at RM1.51 billion.