ITMAX SYSTEM BERHAD
KLSE (MYR): ITMAX (5309)
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Last Price
3.54
Today's Change
-0.03 (0.84%)
Day's Change
3.53 - 3.57
Trading Volume
209,800
IPO Info
Offer Period
Opening
2022-11-25
Closing
2022-11-25
Time Table
Allotment Date
2022-12-12
Listing Date
2022-12-13
Price
Issue Price
1.07
Units
1,028,000,000
Share Capital
261,253,866.440
No of Shares
Public Issue
190,553,600
Offer for Sale
129,446,400
Private Placement
-
Issuing House
TIIH - 730
ISIN Code
MYL5309OO009
Prospectus:
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
Discussions
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ITMAX had clinched 4th Johor car park contract from SEGAMAT MUNICIPAL COUNCIL (MPS) for around 3100 car park lots too
and WIP to cover whole Johor car park
Muar
Pengerang
Pontian
Yong Peng
Kluang
Pasir Gudang
Kota Tinggi
Labis
Simpang Renggam
2024-09-12 17:38
ITMAX anticipates significant growth in demand for smart
city solutions, driven by the rapid urbanization process
occurring across Malaysia. Notably, the Malaysian
government has established the Malaysian Smart City
Framework, providing national-level guidelines aimed at
expediting the transformation into smart cities. Therefore,
ITMAX received multiple inquiries from potential
customers regarding the adoption of smart city solutions.
In our steadfast commitment to enhancing our services
for our clients, our research and development (“R&D”)
department has developed 31 artificial intelligence (“AI”)
features. These in-house AI features not only increase
the efficiency in city management but also contribute
to our financial performance. Moving forward, we will
continue to invest in expanding our services portfolio to
maximise the value we deliver to our clients.
Furthermore, we have made significant investments
in our technological infrastructure by upgrading our
AI servers to the DGX H100, one of the most powerful
servers offered by NVIDIA, a leading company in the
design and manufacturing of AI and computer graphics
processors. We are confident that this upgrade will
enhance our capability in the R&D processes, enabling
us to develop tailor-made solutions to address our
clients’ pain points effectively.
In line with our strategy to extend our geographical
footprint, we continue to make strides in our expansion
into Johor, as supported by the numerous contracts we
have secured in Johor over the past year. Besides Johor,
we are actively engaging with other states. In addition,
ITMAX targets to grow its presence in the enterprise
sector, capitalising on the increasing demand in this
market segment.
2024-09-13 09:17
LIST OF THIRTY (30) LARGEST SHAREHOLDERS
1. Maybank Nominees (Tempatan) Sdn Bhd
Maybank Private Wealth Management For Sena Holdings Sdn. Bhd.
(12022639) (444576)
430,600,000 41.84
2. Ganda Sensasi Sdn Bhd 109,000,000 10.59
3. Hsbc Nominees (Tempatan) Sdn Bhd
Sena Holdings Sdn. Bhd.
65,000,000 6.31
4. Citigroup Nominees (Tempatan) Sdn Bhd
Cbhk Pbgsg For Sena Holdings Sdn. Bhd
52,000,000 5.05
5. Citigroup Nominees (Tempatan) Sdn Bhd
Exempt An For Aia Bhd.
33,606,200 3.26
6. Cimb Group Nominees (Tempatan) Sdn Bhd
Cimb Commerce Trustee Berhad For Kenanga Shariah Growth Opportunities
Fund (50156 Tr01)
14,006,600 1.36
7. Hsbc Nominees (Asing) Sdn Bhd
Morgan Stanley & Co. International Plc (Firm A/C)
10,558,100 1.02
8. Hsbc Nominees (Tempatan) Sdn Bhd
Hsbc (M) Trustee Bhd For Manulife Investment Shariah Progress Fund
10,213,100 0.99
ANALYSIS OF
SHAREHOLDINGS
AS AT 29 MARCH 2024
Cont’d
ANNUAL REPORT 2023
143
ITMAX SYSTEM BERHAD (Registration No. 200101008580 (544336-M))
LIST OF THIRTY (30) LARGEST SHAREHOLDERS cont’d
No. Name No. of shares %
9. Hsbc Nominees (Tempatan) Sdn Bhd
Hsbc (M) Trustee Bhd For Aham Select Opportunity Fund
10,179,100 0.99
10. Hsbc Nominees (Tempatan) Sdn Bhd
Hsbc (M) Trustee Bhd For Pertubuhan Keselamatan Sosial
(Aff Hwg6939-403)
7,627,000 0.74
11. Hsbc Nominees (Tempatan) Sdn Bhd
Hsbc (M) Trustee Bhd For Principal Dali Equity Growth Fund
7,306,900 0.71
12. Citigroup Nominees (Tempatan) Sdn Bhd
Great Eastern Life Assurance (Malaysia) Berhad (Lbf)
7,189,400 0.70
13. Citigroup Nominees (Tempatan) Sdn Bhd
Great Eastern Life Assurance (Malaysia) Berhad (Lsf)
7,067,100 0.69
14. Maybank Nominees (Tempatan) Sdn Bhd
National Trust Fund (Ifm Aham) (410195)
7,052,700 0.68
15. Citigroup Nominees (Tempatan) Sdn Bhd
Great Eastern Life Assurance (Malaysia) Berhad (Leef)
6,088,400 0.59
16. Cartaban Nominees (Asing) Sdn Bhd
The Bank Of New York Mellon For Greatlink Asean Growth Fund
5,789,000 0.56
17. Maybank Nominees (Tempatan) Sdn Bhd
Maybank Trustees Berhad For Manulife Investment - Hw Flexi Fund (270519)
5,619,900 0.55
18. Amsec Nominees (Tempatan) Sdn Bhd
Ambank (M) Berhad
5,518,900 0.54
19. Cimb Islamic Nominees (Tempatan) Sdn Bhd
Cimb Islamic Trustee Berhad - Kenanga Syariah Growth Fund
5,211,400 0.51
20. Citigroup Nominees (Tempatan) Sdn Bhd
Kumpulan Wang Persaraan (Diperbadankan) (Nomura)
5,000,000 0.48
21. Tokio Marine Life Insurance Malaysia Bhd
As Beneficial Owner (Pf)
4,985,000 0.48
22. Maybank Nominees (Tempatan) Sdn Bhd
National Trust Fund (Ifm Kenanga) (410196)
4,881,300 0.47
23. Cimb Group Nominees (Tempatan) Sdn Bhd
Exempt An For Petroliam Nasional Berhad (Acf-Kenanga-Eq)
4,859,700 0.47
24. Citigroup Nominees (Tempatan) Sdn Bhd
Great Eastern Life Assurance (Malaysia) Berhad (Dr)
4,818,500 0.47
25. Hsbc Nominees (Tempatan) Sdn Bhd
Hsbc (M) Trustee Bhd For Aham Aiiman Growth Fund
4,565,000 0.44
26. Cimb Group Nominees (Tempatan) Sdn Bhd
Exempt An For Petroliam Nasional Berhad (Acf-Affin-Eq)
4,550,700 0.44
27. Amanahraya Trustees Berhad
Pmb Shariah Growth Fund
4,500,000 0.44
ANALYSIS OF
SHAREHOLDINGS
AS AT 29 MARCH 2024
Cont’d
ANNUAL REPORT 2023
144
ITMAX SYSTEM BERHAD (Registration No. 200101008580 (544336-M))
LIST OF THIRTY (30) LARGEST SHAREHOLDERS cont’d
No. Name No. of shares %
28. Cimb Group Nominees (Tempatan) Sdn Bhd
Cimb Commerce Trustee Berhad For Kenanga Growth Opportunities Fund
(50154 Tr01)
4,398,900 0.43
29. Tokio Marine Life Insurance Malaysia Bhd
As Beneficial Owner (Tmef)
4,200,000 0.41
30. Hsbc Nominees (Tempatan) Sdn Bhd
Hsbc (M) Trustee Bhd For Pertubuhan Keselamatan Sosial
(Uob Amm6939-406)
2024-09-13 09:47
from here we can see how strong is the 30 largest shareholders , mostly growth fund .
look like the 6% DBT could be the angel investor that can bring ITMAX to another level .
2024-09-13 09:50
ITMAX just start bear fruit from early phase develop of smart city . there are a lot of upside .
2024-09-23 11:14
ITMax announced that Southmax Sdn Bhd a 65% owned subsidiary had accepted the letter of appointment awarded by Segamat City Council to be the operator of smart parking for 7,637 on street parking spaces which are currently gazetted for a contract period of 15 years.
Both parties are to enter into a contract in respect of the smart parking operation, including all terms agreed upon among the parties.
The implementation of smart parking system will begin on 1 October 2024 with a revenue sharing at the rate of 70% (SSB) and 30% (MPS) for all parking collections including hourly parking, daily parking, monthly parking, season passes and temporary parking rental and parking compounds.
2024-09-23 14:43
Likely to sapu all smart parking in johor.
Prime beneficiary of spore johor sez,no wonder unstoppable rise frm ipo pr of 1.07.
2024-09-25 09:55
Revenue forecast.
Our back of the envelop calculation takes into assumption of 40%
utilisation rate for 10 hours (8am-6pm) which translates to 4 hours per day. With 6 days
parking operations for 7.6k parking bays at RM0.60 per hour, this translates to RM440k
revenue per month which equals to about RM5.3m per year. Based on the revenue
sharing of 70%-30%, this would garner RM3.7m per annum for ITMAX. With 50%
margin assumption this could lift its bottom line by ~RM1.8m per year. We understand
that this award is only the first phase and there are 2-3k more parking spaces to be
gazetted.
Expansion of its capability.
The revenue generated from the smart parking system
will provide additional recurring income for the group. We remain upbeat and this
development strengthens our belief that this will propel its earnings to the next level. To
note, MPS is the fourth smart parking job win in Johor for ITMAX after securing Majlis
Bandaraya Iskandar Puteri (MBIP) in June 2024 ,Majlis Perbandaran Kulai (MPKu) in
July 2024 and Majlis Daerah Tangkak (MDT) in early September 2024. We see
significant opportunities for the group to expand this service to the other 12 councils.
Assuming a total of 200k parking bays in the greater Johor area, with 6 days parking
operations at 4 hours per day (40% utilisation rate) and RM0.60 per hour, this would
garner average RM11.5m monthly or RM138.2m per year. With the same term of 70%-
30% revenue sharing and 50% margin, this could lift up the group bottom line by
RM48m per year
2024-09-25 11:48
One of the best johor themed stock
well connected to be able to sapu 4 johor councils parking
sky is limit....
2 months ago
ITMAX had clinched 5th Johor car park contract from MUAR MUNICIPAL COUNCIL from October 2024
and WIP to cover whole Johor car park
Pengerang
Pontian
Yong Peng
Kluang
Pasir Gudang
Kota Tinggi
Labis
Simpang Renggam
2 months ago
Fifth smart parking job win
ITMAX has accepted MPM’s LOA to be the smart parking operator for 8.6k street
parking spaces for a period of 15 years. We remain upbeat and this development
strengthens our belief that this will propel its earnings to the next level. This is
the fifth job win relating to smart parking solution after securing MBIP in June
2024, MPKu in July 2024, MDT and MPS in Sept 2024. With this, we are confident
that the group would be able to expand its reach to another 11 districts in Johor.
2 months ago
We opine that ITMAX deserves a premium valuation as it has unique direct exposure
to the AI theme, especially at the application level. We believe that this home-grownsmart city integrated system and solution provider is a compelling case given its multiyear growth potential on the back of solid order and tender books.
2 months ago
ITMAX continues to build a solid orderbook, leveraging AI technologies and unique database systems for competitive advantage. The company sees multi-year growth potential across Kuala Lumpur, Johor, and Penang, driven by smart city solutions, AI-enhanced services, and expansion into new regions. The stock is recommended as a BUY with a target price of RM4.10, reflecting a projected upside of 13.5%.
https://www.minichart.com.sg/2024/10/09/unlocking-itmax-systems-growth-potential-through-smart-city-innovations/
2 months ago
no doubt CCTV video surveillance , smart LED lighting is poised to grow significantly to become smart city .
2 months ago
from here we can see how strong is the 30 largest shareholders , mostly growth fund .
look like the 6% DBT could be the angel investor that can bring ITMAX to another level .
FUND is cornering this stock , going to the moon .
2 months ago
that why 6% transaction for the price 3.40 , is a wild card now. something great must be on the way .
2 months ago
this is a cornered stock,operator not in a hurry at all
one by one the smart parking in johor councils kena sapu
later spread to KL n penang too
final target shud be rm5,then split 1 into 5
this is how the well connected get richer
2 months ago
Still one of the very few tech stocks in bursa that is resilient when the others mostly dumped like toilet paper..
2 months ago
What is happening today? The stock performance is not updated today - something wrong with the investor i3 system?
2 months ago
Opportunity for ITMAX from Budget 2025
1) RM178 million is allocated for the installation of new streetlights and smart traffic lights on federal roads nationwide.
2) 180 high-definition CCTV cameras and 45 emergency buttons will be installed in Putrajaya and Labuan to enhance safety levels.
3) Projects to build and repair bridges, as well as install and maintain village streetlights, will continue with an allocation of over RM350 million.
4) The government will announce a special incentive to attract quality investments and offer high-value jobs in the Johor- Singapore Special Economic Zone by the end of this year.
5) The government has approved Forest City in Johor as a Duty-Free Island to support tourism and local economic activities.
2 months ago
Sell all and take profit, overvalued right now. May possibility drop to below 3.00
NTA:0.36
PE Ratio:51.3 RPS only 0.068
1 month ago
https://www.nst.com.my/news/nation/2024/11/1132338/forest-citys-ai-powered-customs-complex-curb-smuggling
ITMax is having a piece of pie from it
3 weeks ago
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