KUALA LUMPUR (Dec 17): ITMAX System Bhd (KL:ITMAX) has secured a RM36 million contract from the Ministry of Home Affairs to deploy an artificial intelligence (AI)-powered closed-circuit television (CCTV) system at national cross-border entry and exit points across Peninsular Malaysia.
In a filing with Bursa Malaysia on Wednesday, the group said it has accepted a letter of acceptance dated Dec 12 from the Home Ministry for the provision of installation and rental services for a closed-circuit camera system. The contract, valued at RM36 million, will be on a monthly subscription basis for 36 months, spanning from July 1, 2026, to June 30, 2029.
ITMAX said the project includes a five-month installation phase starting on Feb 1, 2026, followed by a 36-month rental phase upon completion of the installation works.
In a separate statement, ITMAX said the CCTV system will be installed at key entry and exit points nationwide to enhance border monitoring and security capabilities.
Managing director and chief executive officer William Tan Wei Lun said the contract marked a milestone for the group’s participation in federal government digital infrastructure initiatives.
“We are honoured to be entrusted by the Immigration Department of Malaysia with this important national infrastructure project. Leveraging our proven expertise in integrated digital infrastructure and AI-enabled solutions, we are committed to deploying a robust and secure AI-powered CCTV system that will enhance operational efficiency and strengthen border security," Tan added.
For the third quarter ended Sept 30, 2025 (3QFY2025), ITMAX posted a new record quarterly net profit of RM25.6 million, surpassing the previous quarter’s high of RM23.07 million, driven by a surge in revenue from its digital infrastructure solutions business.
Quarterly net profit rose 15.8% year-on-year to RM25.6 million from RM22.11 million in 3QFY2024, as revenue climbed 12.3% to RM65.17 million from RM58.02 million.
The earnings growth was underpinned by a 68.7% jump in revenue from video surveillance, analytics and subscription services, which offset a 33.2% decline in supply, installation and maintenance services revenue.
For the nine-month period ended Sept 30, 2025 (9MFY2025), ITMAX’s net profit increased 16.1% year-on-year to RM68.82 million, while revenue rose 11% to RM174.35 million.
The company’s shares closed up eight sen or 1.73% at RM4.70 on Wednesday, bringing its market capitalisation to RM4.86 billion. That represents a year-to-date gain of over 22%.
Read also:
ITMAX sets new record in quarterly profit as digital‑infrastructure revenue surges
ITMAX secures RM51m smart city contract from Batu Pahat Municipal Council
ITMAX wins RM14m contract for Railway Assets Corp's CCTV upgrade
ITMAX unit wins second Selangor Intelligent Parking job, shares hit record high