KUALA LUMPUR (Aug 18): ITMAX System Bhd (KL:ITMAX) has secured a RM186.84 million contract from the Social Security Organisation (Socso) to develop and operate an artificial intelligence (AI)-powered employment portal.
ITMAX managing director and chief executive officer William Tan Wei Lun said the five-year contract represents an extension of the group's existing AI and digital platform capabilities.
"The scope goes well beyond the development of a conventional portal, encompassing system and data integration, AI-based matching, cloud services and cybersecurity, as well as the ongoing operation and maintenance of the platform,” Tan said in a statement on Tuesday.
Socso is a statutory body under the Ministry of Human Resources that administers social security protection for employees and their dependents. The agency is also responsible for employment services and currently operates MYFutureJobs, Malaysia's national employment portal, which provides job matching and other employment services for jobseekers and employers.
Much of ITMAX's contract wins over the past years has come from smart-city infrastructure rollouts, particularly in Johor.
In July this year, the group secured a RM120 million six-year contract from Kuala Lumpur City Hall (DBKL) to supply and maintain a smart street-lighting system across the capital.
That came after a RM42 million contract awarded by DBKL in December 2025 to operate and maintain smart traffic-light systems, while ITMAX had earlier won a contract to install an additional 5,000 CCTV cameras and video message signboards across Kuala Lumpur.
For the first quarter ended March 31, 2026, the group saw its net profit rise 24.2% year-on-year to RM25.01 million as revenue climbed 29.8% to RM65.86 million, supported by stronger contributions from its digital infrastructure business and continued smart-city rollouts.
Shares of ITMAX closed six sen or 1.3% lower at RM4.45 on Tuesday, giving the group a market capitalisation of RM4.62 billion. The stock has fallen about 6.9% year to date.