Kuala Lumpur, September 3, 2025 — ITMAX System Bhd shares jumped 2.59% to RM4.35 by 3:42 pm today, buoyed by upbeat sentiment over its win of a Selangor smart-parking contract via its 70%-owned subsidiary Selmax Sdn Bhd. Trading volume reached 1.815 million shares.
The stock opened at RM4.24, supported by strong buying, and climbed to an intraday high of RM4.35. Market confidence was further reinforced when Hong Leong Investment Bank Bhd maintained its BUY recommendation on ITMAX and raised its target price to RM5.71, suggesting a 34.6% upside from current levels.
Selangor Contract: 15,000 Bays, 10-Year Term, Profitable Outlook
The Selangor Intelligent Parking (SIP) project covers approximately 15,000 parking bays under the Majlis Perbandaran Selayang, spanning a 10-year tenure with a possible five-year extension. Analysts estimate the contract will contribute roughly RM1.4 million in net profit per year, prompting upward revisions for fiscal years FY26F and FY27F.
Smart City Strategy Gains Traction
Market commentators say the company’s strategic expansion in smart city infrastructure is strengthening its investor appeal. ITMAX’s growing presence in Selangor, combined with its existing contracts in Johor, positions it well for future contract opportunities. Anticipation remains high for further smart parking rollouts across additional municipal councils in both states.The
