KUALA LUMPUR: ITMax System Bhd, an artificial intelligence-powered integrated digital infrastructure service provider, secured a RM120.0 million contract from Kuala Lumpur City Hall (DBKL) for the supply, installation and maintenance of smart street light systems across Kuala Lumpur.
The contract carries a tenure of six years, commencing from Aug 1 2026, to July 31, 2032.
Managing director and CEO William Tan Wei Lun said the group is honoured to be awarded this smart street lighting contract by DBKL, reflecting its continued confidence in ITMax System’s capabilities and its proven track record.
“This award also recognises our locally designed and developed Malaysian smart street lighting system, demonstrating that home-grown innovation can deliver world-class smart city solutions.
“Our intelligent street lighting platform incorporates features such as adaptive dimming, centralised monitoring and real-time fault detection to improve energy efficiency, operational reliability and public safety.
“We remain committed to developing AI-powered technologies that support Malaysia’s digital transformation and build smarter, safer and more sustainable cities,” he said.
Last month, ITMax Systems’ subsidiary, Southmax Sdn Bhd, bagged a RM79.9 million variation order (VO) from Iskandar Puteri City Council (MBIP).
Under the VO, ITMax System’s will undertake the deployment of additional smart traffic light controllers across the Iskandar Puteri area, further expanding the existing smart traffic system under MBIP.
The VO will run until 2038, with an option to extend until 2046.
Hong Leong Investment Bank Bhd (HLIB Research) in a recent report said the firm is upbeat on ITMax System’s outlook and expects the group to deliver stronger earnings in the upcoming quarters.
Apart from its CCTV and smart parking segments, the bank-backed research firm said digital twins are a new scalable business for ITMax System through wider coverage area and modular upselling of additional functions such as Samurai AI.
Its current digital twin contract covers 2 sq km of MBJB, just a fraction of MBJB’s 300 sq km land area and the wider SEZ’s 3,588 sq km.
ITMAX System is also finalising pricing with DBKL for the digital twin, which is expected to start with 3 sq km versus DBKL’s total land area of 243 sq km.
“All in, we maintain Buy with an unchanged discounted cash-flow-derived target price of RM6.00,” HLIB Research said.
