ITMAX Shares Up On Strong 1Q Performance

KUALA LUMPUR, May 26 (Bernama) -- ITMAX System Bhd’s (ITMAX) shares rose at early trade today after the company reported stronger earnings in the first quarter ended March 31, 2026 (1Q 2026).

At 10.36 am, the company’s shares increased five sen to RM4.81, with a total of 787,900 shares traded.

In a filing with Bursa Malaysia, ITMAX's net profit surged to RM25.01 million in 1Q 2026 from RM20.15 million in 1Q 2025, while revenue during the quarter under review also rose by 29.83 per cent to RM65.86 million from RM50.73 million previously.

The increase in revenue was mainly attributed to the increase in digital infrastructure.

Meanwhile, Hong Leong Investment Bank Bhd expects ITMAX to deliver stronger performance in the coming quarters.

This is underpinned by the absence of one-off smart parking activation costs, progressive billings from the 5k Kuala Lumpur City Hall (DBKL) closed-circuit television (CCTV) rollout, and the commencement of Johor Bahru’s smart parking from May 1, 2026.

“Momentum should strengthen further in the second half of 2026 as Selangor and Johor Bahru smart parking ramps up, alongside maiden contribution from Iskandar Puteri City Council’s smart traffic light contract.

“Looking ahead, we expect further CCTV awards from DBKL and Greater Johor Bahru as smart-city initiatives gain pace, while Johor’s single-system policy should continue to support contract wins across other municipalities,” it said in a note today.

As such, the investment bank is maintaining its ‘buy’ call on ITMAX, with a target price of RM6.01 per share.

-- BERNAMA