PETALING JAYA: The latest contract awarded to smart parking solutions provider ITMax System Bhd
by the Segamat Municipal Council or MPS to operate 7,637 street parking spaces over 15 years is expected to boost the company’s earnings, while also providing momentum for more such contract awards in Johor.
Hong Leong Investment Bank (HLIB) Research said in a report that the MPS award could lift ITMAX’s bottom line by RM1.8mil a year after taking into consideration revenue of RM3.7mil a year, based on a 70:30 sharing ratio from a back-of-the-envelope calculation.
