PETALING JAYA: ITMax System Bhd
is seen as a compelling investment opportunity, given its multi-year growth potential on the back of solid order and tender books.
Hong Leong Investment Bank (HLIB) Research, which has reiterated its “buy” call with an unchanged target price of RM2.90, said the home-grown smart city integrated system and solution provider’s recent contract win worth RM77mil solidified its belief that this will elevate its earnings potential.
ITMAX’s 65%-owned subsidiary, Southmax Sdn Bhd, has accepted the letter of award from the Majlis Perbandaran Kulai (MPKu) to provide video surveillance and traffic light system services, which includes a smart command centre, a closed circuit camera system with artificial intelligence features and traffic light system on a monthly subscription in the MPKu area for a period of 15 years.
“Record high total unbilled order book of RM958mil will be recognised progressively up to May 2039.
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