KUALA LUMPUR (Feb 5): ITMAX System Bhd (KL:ITMAX) said on Wednesday its subsidiary has secured another contract in Johor to operate the outdoor parking system in Pontian district. The contract value was not disclosed.

The appointment of its 65%-owned Southmax Sdn Bhd took effect from Feb 1, 2025 and spans 15 years, the company said in an exchange filing. The award from the Pontian Municipal Council would be its sixth contract in Johor.

“The achievement highlights our in-house expertise in delivering seamless, end-to-end parking solutions that integrate parking collection and enforcement,” ITMAX managing director William Tan said in a statement.

ITMAX will continue to expand its footprint across Johor, riding on rapid digital transformation in the state, he added.

Similar to earlier contracts, Southmax will operate on a revenue-sharing model and will receive 70% of the revenue generated from parking collections and parking compounds while the remaining 30% will accrue to Majlis Perbandaran Pontian, the local authority that administers the district.

Additionally, Southmax is responsible for the costs of the development, management and maintenance of the parking system as well as the parking space equipment and signage.

Shares of ITMAX were up 2.5% to RM3.64 ahead of the contract announcement during the midday trading break. At the last price, the company has a market capitalisation of RM3.75 billion.