Group bagged a 15-year RM105 million contract for video surveillance services recently from Johor Bahru City Council.
ITMAX’s new video surveillance contract from the Johor Bahru City Council will entail the provision of 500 closed-circuit televisions and 34 traffic controllers.
Its trading volume surged to 14.63 million, the second highest since its listing, by the midday break. Its highest volume of shares traded was on Sept 22 with 18.98 million shares, four days after the announcement of winning the contract. “The higher premium is justified, underpinned by its niche position as one of select few domestic providers of AI-enabled closed-circuit televisions , and strong three-year core net profit compound annual growth rate of 33%,” said Maybank IB in a report today.
This includes the provision of parking fee collection services utilising AI-enabled CCTV number plate recognition. On the same note, Hong Leong Investment Bank has reentered its “buy” call on ITMAX with a higher TP of RM2.08, reflecting the upward earnings revision.
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