KUALA LUMPUR (Feb 7): Kuala Lumpur City Hall (DBKL) has expanded the scope of ITMAX System Bhd’s contract to install and maintain the networked street lighting systems in Kuala Lumpur by RM47.2 million.
ITMAX said DBKL has awarded the company a variation order (VO) for the job to include the replacement of broken light-emitting diode (LED) street lights with an expired warranty in the city.
“In addition to its responsibilities under the existing networked lighting systems contract with DBKL, ITMAX, under this VO, is required to upgrade the LED street lights including replacing the defective and out-of-warranty LED street lights,” the public space networked systems provider said in a statement on Wednesday.
ITMAX said the VO is expected to contribute positively towards the earnings of the company until the expiry of the VO.
In April last year, DBKL awarded ITMAX with a three-year contract extension for the networked street lighting system job worth RM52.81 million.
The extension spans from Aug 1, 2023, to July 31, 2026. It is understood that the VO also falls under this contract period.
The company was initially awarded a five-year contract for the street light works in July 2016, which was subsequently given a two-year extension in Aug 2021.
Shares in ITMAX closed unchanged at RM1.99, valuing the company at RM2.05 billion.