Itmax System Bhd, a public space network systems provider, has secured a significant video surveillance contract with the Pasir Gudang City Council in Johor, Malaysia. The contract, worth RM79.6 million, spans a period of 15 years.
Under the agreement, Itmax will be responsible for providing video surveillance services to the city council. This includes the implementation of a smart command center and a closed circuit camera system equipped with artificial intelligence capabilities. These advanced features will enhance the overall security and surveillance capabilities of Pasir Gudang City Council.
The news of the contract has had a positive impact on Itmax’s trading stock. At the opening bell, the company’s stock rose by four sen or 2.22% to reach RM1.84 per share. This increase in stock value reflects the market’s confidence in Itmax and its ability to deliver on the contract.
Shares in Itmax continued to rise and were up five sen to RM1.85 per share at 9.12am. Trading volume was also high, with 2.38 million units being exchanged. Earlier in the day, the stock reached a peak of RM1.90 per share.
This contract is a significant achievement for Itmax as it not only demonstrates the company’s competency in providing video surveillance solutions but also highlights its ability to secure long-term contracts with reputable organizations such as the Pasir Gudang City Council.
The implementation of a comprehensive video surveillance system will greatly enhance the safety and security of Pasir Gudang City Council. With the integration of artificial intelligence features, the council will be able to proactively monitor and respond to potential security threats more efficiently.
Furthermore, Itmax’s provision of a smart command center will equip the council with the necessary tools and technology to effectively manage and control the video surveillance system. This centralized hub will enable real-time monitoring, data analysis, and swift decision-making, ultimately ensuring a safer environment for the residents of Pasir Gudang.
The video surveillance contract with the Pasir Gudang City Council aligns with Itmax’s commitment to providing innovative solutions that meet the evolving needs of urban environments. As a trusted provider of public space network systems, Itmax is well-positioned to leverage its expertise and continue contributing to the advancement of smart cities.
In conclusion, Itmax System Bhd’s recent contract win is a testament to the company’s capabilities in the video surveillance space. The RM79.6 million contract with the Pasir Gudang City Council in Johor will see Itmax implement a state-of-the-art video surveillance system with artificial intelligence features. This achievement has been well-received by investors, as reflected in the rise of Itmax’s trading stock. With this contract, Itmax is positioned to further solidify its reputation as a leading provider of public space network systems.
