KLSE (MYR): ITMAX (5309)
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Last Price
3.33
Today's Change
-0.05 (1.48%)
Day's Change
3.28 - 3.40
Trading Volume
1,434,200
Opening
2022-11-25
Closing
2022-11-25
Allotment Date
2022-12-12
Listing Date
2022-12-13
Issue Price
1.07
Units
1,028,000,000
Share Capital
261,253,866.440
Public Issue
190,553,600
Offer for Sale
129,446,400
Private Placement
-
TIIH - 730
MYL5309OO009
INITIAL PUBLIC OFFERING ("IPO") OF UP TO 320,000,000 ORDINARY SHARES IN ITMAX SYSTEM BERHAD ("ITMAX SYSTEM" OR "COMPANY") ("IPO SHARES") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED ISSUED ORDINARY SHARES IN ITMAX SYSTEM ("ITMAX SYSTEM SHARES" OR "SHARES") ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 129,446,400 EXISTING SHARES ("OFFER SHARES") AND A PUBLIC ISSUE OF 190,553,600 NEW SHARES ("ISSUE SHARES") INVOLVING: (I) INSTITUTIONAL OFFERING OF UP TO 289,160,000 IPO SHARES TO INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING ("INSTITUTIONAL PRICE"); AND (II) RETAIL OFFERING OF 30,840,000 ISSUE SHARES TO THE DIRECTORS OF ITMAX SYSTEM, ELIGIBLE EMPLOYEES OF ITMAX SYSTEM AND ITS SUBSIDIARY ("GROUP"), PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE GROUP AND THE MALAYSIAN PUBLIC AT THE RETAIL PRICE OF RM1.07 PER ISSUE SHARE ("RETAIL PRICE"), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND THE FINAL RETAIL PRICE (AS DEFINED IN THIS PROSPECTUS) IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE, SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS. THE FINAL RETAIL PRICE WILL BE EQUAL TO THE LOWER OF: (A) THE RETAIL PRICE; OR (B) THE INSTITUTIONAL PRICE.
ITMAX - English IPO - Bursa (Part 1).pdf
ITMAX - English IPO - Bursa (Part 2).pdf
ITMAX - English IPO - Bursa (Part 3).pdf
Here very quite but the share price keep breaking new high.... probably will explode to the next level when another forseeable good news!
2 months ago
Long time didn't come back here. Last time I said otw to HLIB TP 2.90. Already smashed. Now on to greater heights..
1 month ago
Itmax's subsidiary to operate smart parking in Kulai
https://www.thestar.com.my/business/business-news/2024/07/30/itmax039s-subsidiary-to-operate-smart-parking-in-kulai
3 weeks ago
This one still overlooked by many investors. Good that it quietly climb up under the radar to new heights..
1 week ago
Obviously itmax is on the way to operate smart parking facilities throughout most parts of Msia.
1 week ago
ITMAX bags another contract from DBKL
https://www.businesstoday.com.my/2024/08/16/itmax-secures-rm539-million-contract-from-dbkl-to-deploy-ai-powered-cc-cams/
1 week ago
ITMAX in the prime position to bag video surveillance contracts for all 16 councils ( already secured 4 )
5 days ago
ITMAX system
Additional 5k CCTVs installation for DBKL
ITMAX has secured a RM539.5m contract from DBKL to install an additional 5k
CCTVs in Kuala Lumpur. The contract spans for 10 years, comprising a one year
installation phase followed by 9 years subscription phase. We view this
development positively as this provides (i) longer visibility of its recurring income
stream and (ii) a testament of its technological leadership and QoS. We strongly
believe that ITMAX is in a prime position to get the remaining 10k CCTV contracts
over the coming years. We raise our FY26f earnings by 17% to impute in the job
win. After earnings adjustment and raising our PE assumption to 45x (from 40x),
our TP increases to RM4.71 based on FY26f EPS. Reiterate BUY.
NEWSBREAK
The deal. ITMAX has on 15 August 2024 secured a Variation Order (VO) dated 9
August 2024 awarded by Dewan Bandaraya Kuala Lumpur (DBKL) in respect of the
Contract of “Kerja-kerja Membekal Perkhidmatan Penggunaan Sistem CCTV dan VMS
Integrated Transport Information System (ITIS) Secara Sewaan Tahun 2021/2026
(2018/A051)” (Main Contract). The contract involves the installation of additional 5k
CCTVs in Kuala Lumpur (KL) for a period of 120 months which comprises of 12 months
installation period and 108 months subscription period for a contract value of
RM539.5m. The commencement date will be fixed according to the work program
agreed upon by ITMAX and DBKL.
HLIB’s VIEW
Stronger footing in DBKL. We view this development positively as this provides (i)
longer visibility of its recurring income stream and (ii) a testament of ITMAX’s
technological leadership and quality of service (QoS). This 5k additional CCTVs
installation also comes as a surprise as DBKL historically only adds 1k CCTVs per year.
Additionally, note that this is a longer contract period of 9 years from DBKL, compared
to the previous duration contracts of 6-7 years.
More to come. With this expansion, ITMAX’s video surveillance system will now
encompass 10k CCTVs, seamlessly connected through its fibre optic network
infrastructure across KL. In July 2024, Deputy Prime Minister Datuk Seri Ahmad Zahid
Hamidi quoted that DBKL requires at least 20k CCTVs cameras installed throughout
the city to monitor crime and traffic congestion. With this news, we are confident that
ITMAX is in a prime position to get the remaining 10k CCTV contracts when rolled out
over the coming years.
Expecting higher margin. Although these additional 5k cameras’ rental is lower at
RM1k per month (vs existing’s circa RM1.1k-1.2k per month), we opine they will yield
higher margins as the incremental cost for command centre and fibre optics will be
much lower by using the existing facilities.
All-time high order book. With this addition, it has a total unbilled order book of
RM1.5bn which will be recognised progressively up to May 2039. As end of 1Q24,
ITMAX’s tender book stood at circa RM300-400m.
Forecast. We raise our FY26f by 17% to impute in the job win.
Reiterate BUY with higher TP of RM4.71 (from RM4.00). After earnings adjustment and
raising our PE assumption to 45x (from 40x), our TP increases to RM4.71 based on
FY26f EPS. We believe that this home-grown smart city integrated system and solution
provider is a compelling case given its multi-year growth potential on the back of solid
order and tender books.
5 days ago
$3.43... Now..
We got $1.30 profit to $4.70 if entering now..
What a beautiful entry price!!
5 days ago
Another AI counters mostly unaware by investors...
But, I am aware because I am different mah
5 days ago
good fundamental , good earning visibility . what to worry . just lock in fridge. bonus issue might be coming soon
5 days ago
I will certainly hold till $4.70.
It is matter of time
Thanks you for advise..
Yes! Potential bonus by year end
5 days ago
Hihi..
Investors don't dare to sell more...
Because, they will buy back in higher price later
4 days ago
Despite tech stocks in bursa getting bashed, this one still standing strong. The IB analyst was right that itmax is in a recession proof business. Resilient!
3 days ago
Once tech go back on bull run later, this stock is gonna smash RM4 easily to HL new TP
3 days ago
buy with ease of mind if management is good such as itmax , AWC , sealink , dxn , etc
3 days ago
Buy call from research house
https://www.thestar.com.my/business/business-news/2024/08/20/recent-wins-point-to-growth-potential-for-itmax
3 days ago
Michael Kwok
Post removed.Why?
2 months ago