KUALA LUMPUR (Dec 23): ITMAX System Bhd (KL:ITMAX) said on Tuesday it has secured a RM42 million contract to operate and maintain a smart traffic light system across Kuala Lumpur for three years.
The contract was awarded by the Kuala Lumpur City Hall (DBKL), which will determine the site possession date and the completion date of the contract in due course, said ITMAX in a filing with Bursa Malaysia.
The artificial intelligence (AI)-powered digital infrastructure solutions provider was previously appointed in 2023 to deploy the smart traffic controller system in Kuala Lumpur.
Managing director and chief executive officer William Tan Wei Lun said the latest award reflects DBKL’s confidence in ITMAX’s homegrown smart traffic technology developed by its in-house research and development team, with full ownership of the intellectual property.
The system integrates CCTV infrastructure with AI-driven analytics to enable real-time traffic monitoring, adaptive signal control and data-driven decision-making, improving traffic flow and road safety, he said.
“We remain committed to working closely with DBKL to support Kuala Lumpur’s journey towards a smarter, more connected and more efficient urban mobility ecosystem,” Tan added in a statement.
On Monday, ITMAX announced that it is acquiring a 70% equity stake in AI technology company Tapway Sdn Bhd for RM5.6 million, as part of its strategy to expand beyond government-led projects into commercial and private-sector applications.
Earlier this month, ITMAX won a RM36 million contract from the Ministry of Home Affairs to deploy an AI-powered CCTV system at national cross-border entry and exit points across Peninsular Malaysia.
The group posted a record net profit of RM25.6 million for the third quarter ended Sept 30, 2025, up 15.8% from RM22.1 million a year earlier, driven by higher revenue from its digital infrastructure solutions business. Quarterly revenue rose 12.3% to RM65.17 million from RM58.02 million.
For the first nine months of FY2025, net profit climbed 16.1% year-on-year to RM68.82 million, while revenue grew 11% to RM174.35 million.
At Tuesday’s close, ITMAX shares fell seven sen or 1.44% to RM4.80, valuing the group at RM4.96 billion.