KUALA LUMPUR (Aug 16): ITMAX System Bhd (KL:ITMAX) said on Friday that it has secured an additional order worth RM539.46 million for the installation of more surveillance cameras and video signages in Kuala Lumpur.
The variation order from the Kuala Lumpur City Hall (DBKL) involves additional 5,000 closed circuit televisions (CCTVs) and video messaging signages (VMS), ITMAX said in an exchange filing on Friday. The contract would last 120 months, comprising 12 months’ installation and 108 months of service subscription.
“The commencement date will be fixed according to the work programme agreed by the company and DBKL,” ITMAX said.
The variation order is the latest on the main contract worth RM528 million, which runs from July 2018 to December 2026. The company has since secured multiple variation orders and the main contract has since been extended to June 2029.
In May, ITMAX had also secured a variation order from DBKL worth RM105.3 million for the contract extension to provide CCTV and VMS in Kuala Lumpur.
Shares of ITMAX were 16 sen or 4.78% higher at RM3.51 at noon break on Friday, giving the group a market capitalisation of RM3.61 billion.